Economic optimism? Many Brits still feel left behind – Brand Index January 27, 2015 Although yesterday’s 2014 fourth quarter GDP figures confirmed the fastest growth since before the financial crisis, the economy risks slowing in early 2015 as consumer confidence continues to be restrained. The first quarter of 2015 has got off to a muted start with the YouGov/Cebr Consumer Confidence Index rising only slightly in January as households’ [...]
Third of pension savers in limbo about plans for retirement pot January 27, 2015 One in three Brits with a pension are still in limbo about how to use the cash, just two months before new rules giving them the freedom to do what they want come into force, a survey has shown. New rules in April will scrap the requirement of savers to purchase an annuity with their [...]
Strong US dollar hurts sales at consumer giant January 27, 2015 THE SURGING strength of the US dollar has taken its toll on Procter and Gamble (P&G) with revenue falling four per cent to $20.2bn (£13.3bn) in the three months ending 31 December, compared to the year before. The decline in revenue saw the company suffer a 31 per cent fall in net earnings to $2.3bn [...]
Sports Direct boss strengthens hold on Rangers with loan deal January 27, 2015 GLASGOW Rangers yesterday accepted a long-term credit facility of £10m from Sports Direct boss Mike Ashley. The football club admitted its financial condition has been made worse by poor match attendance. The facility is structured in two interest free tranches with £5m available immediately for working capital purposes and the repayment of previous debt, with [...]
Brooks sees off volatility to cap strong growth January 27, 2015 BROOKS Macdonald Group claims it has successfully weathered the market turbulence of 2014, after a 6.15 per cent growth in discretionary funds under management during the six months to 31 December met management expectations. The Aim-listed wealth management group recorded £6.95bn in discretionary funds under management at the end of the last quarter, with quarterly [...]
City Moves for 28 January 2015 | Who’s switching jobs January 27, 2015 Hamlins The law firm has announced the appointment of Charles Bezzant as partner. He will be heading up its real estate finance team, and joins from Reed Smith, where he qualified in 2000. Bezzant’s practice covers all finance aspects of property investment and development transactions. RBC Global Asset Management Royal Bank of Canada’s asset management [...]
Best of the Brokers for 28 January 2015 January 27, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASHMORE GROUP Berenberg analyst Pras Jeyanandhan has upgraded he investment manager from “hold” to “buy”, with a target price of 340p, arguing that risks are better priced in. The company’s shares have fallen from a peak of nearly 380p last summer. BSKYB Westhouse [...]
Greek debt fear makes banks drag FTSE down – London Report January 27, 2015 BANKS led the FTSE 100 index lower yesterday as they slipped on concerns the Greek crisis could spread while miners fell with weaker metals prices. It ended the blue-chip index’s eight-session run to a four-month high on Monday. Mid-cap oil producer Afren plunged 71 per cent after saying it was in talks with its largest [...]
Wall Street big guns fail to fire up the market – New York Report January 27, 2015 DISAPPOINTING results from a number of bellwether companies dragged Wall Street down yesterday. Company results pointed to weakening conditions, while an unexpected decline in durable goods orders also weighed on sentiment. The day’s losses were broad, with nine of the 10 primary S&P 500 sectors lower on the day, though tech was the biggest drag [...]
The City must stand up and be counted at this election: Its future is now at stake January 27, 2015 It must have seemed like a jolly jape, dreamt up behind the Parliamentary bike sheds. The coalition had a brilliant wheeze to stitch up the unions by introducing a spending cap at elections. No longer would Labour have access to limitless pots of cash from their union barons. Better still, the brothers would be forced [...]
