London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
CVC to buy 15pc Abertis stake from ACS for €1.7bn August 11, 2010 ACS has agreed to sell a €1.7bn (£1.4bn) stake in toll road operator Abertis to private equity fund CVC Capital Partners, freeing up the Spanish builder to cut debt and pursue energy investments. ACS, Spain’s largest builder by market value, and British private equity firm CVC said yesterday they will form joint ventures to manage [...]
CITY MOVES | WHO’S SWITCHING JOBS August 11, 2010 Coutts The private bank has appointed Jeff Stubberfield as a commercial banker in its media banking team, looking after clients in the music, TV and entertainment business. Stubberfield has over 15 years of experience in financial services and joins from Barclays, where he spent eight years, latterly as a relationship director managing a portfolio of [...]
BEST OF THE BROKERS August 11, 2010 ANGLO AMERICAN Morgan Stanley downgrades Anglo American to “equalweight” from “overweight” and lowers its price target to 3,208p. Believes all the positives have been priced into the shares, which are trading at at a 10 to 15 per cent premium to the sector. Believes that investors should switch into Xstrata which it rates as “overweight”. [...]
Learning lessons from BP’s mistakes August 11, 2010 AND relax. At long last the great BP oil spill disaster of 2010 appears to be over. Black stuff is no longer leaking into the Gulf of Mexico, killing everything in its path. Brown stuff is no longer being power-hosed at Tony Hayward, the hapless CEO whose poor media performances enraged Americans and helped halve [...]
Let the game begin August 11, 2010 THE City can seem a pretty quiet place at this time of year – for the action, you need to head to the countryside. “Glorious” August 12 being the start of the game season, keen shots will today be filling their hip flasks, pulling on wellies and heading up in their droves to the high [...]
UK stocks sag after gloomy news from Bank of England August 11, 2010 BRITAIN’S top share index fell sharply to a three-week low closing yesterday, with banks and commodity stocks leading a broad-based sell-off after US and UK central banks voiced concerns over the economic recovery. Technology firm Smiths Group, however, topped the list of a handful of gainers, up 3.9 per cent as traders cited break-up hopes [...]
US wipes out gains on economic fears August 11, 2010 US stocks erased the year’s increases in the broadest sell-off in a month-and-a-half yesterday, as fears of sustained global economic stagnation caused investors to flee to safer assets. All three major indexes posted their worst percentage drop since 16 July following the Federal Reserve’s bleaker assessment of the economy on Tuesday. The Dow Jones industrial [...]
Pressures are building for a stronger renminbi August 11, 2010 AT THE start of this year, China was considered the only hope for global growth. But, for investors who wanted to get a slice of the pie and piled into the stock market, it has been a frustrating time. The Shanghai Composite Index is one of the worst-performing global stocks markets, having lost nearly a [...]
LISTED PRODUCT NEWS August 11, 2010 ETFS BENEFIT FROM WHEAT SURGE The well-publicised jump in wheat prices in recent days has not escaped the notice of ETF investors. According to ETF Securities, its global agri-business fund rallied 7 per cent last week, topping its ETFX platform. Returns from its agriculture fund actually beat its gold fund, which returned 5 per cent [...]
THE TIPSTER August 11, 2010 PRUDENTIAL shares have been trading in a range between 600p and 500p for the past six months. However, after languishing around the 500p mark, the stock has risen more than 15 per cent in the past three weeks to highs of 603.5p in anticipation of a positive first-half trading report today. Shares fell away slightly [...]
