CiU heading for Catalonia win November 25, 2012 The ruling Convergence and Union alliance, or CiU, was expected to get the most votes in regional elections in ‘s Catalonia yesterday, according to an exit poll by TV3, Catalan public television. CiU, whose leader Artur Mas says he will call a referendum on Catalan independence from Spain, was seen winning 54-57 seats in the [...]
City Moves | Who’s switching jobs November 25, 2012 Pioneer Investments The investment firm has announced three new hires. Hiromi Wada (right) joins from Itau Japan Asset Management. Martin Park joins from HSBC Global Asset Management. He has also held roles at Citibank. Finally, Matthew Marks joins from Prudential Asset Management. Caxton FX Tim Cooke has been appointed non-executive director at the foreign exchange [...]
Best of the Brokers November 25, 2012 LONMIN UBS rates the miner “sell” and has cut its price target from 260p to 240p. The broker thinks Lonmin will hit output targets and see price growth, but the new management team have not yet done enough to ensure the firm recovers. HOMESERVE N+1 Singer has lowered its rating on the repairs and insurance [...]
GDP revision to reveal whether UK consumers are still penny pinching November 25, 2012 MARKET watchers will be keenly anticipating the second estimate of the UK’s third quarter GDP growth from the Bank of England tomorrow. While economists cheered the first estimate of one per cent, they are hoping any revision will only be a small one, and not a sign of further dips in consumer spending. Howard Archer, [...]
US debate over tax may cause market swings November 25, 2012 WITH the S&P 500 above 1,400 after five days of gains, traders will be hard pressed not to cash in on the advance at the first sign of trouble during negotiations over tax hikes and spending cuts that resume next week in Washington. President Barack Obama and US congressional leaders are expected to discuss ways [...]
Online shopping for an enterprising capitalist November 25, 2012 NOT many early-stage companies justify an equity research note. And few get described as “one of the most exciting growth stories in the market”. But the recently-listed Blur Group – led by Philip Letts – is deservedly attracting the right kind of attention. Only three technology firms have joined London’s Aim market this year. Blur’s [...]
Lay all your bets on a winner: Why optimism beats calculation November 25, 2012 I WAS so tired at breakfast that, when the waitress asked if I wanted coffee, I just tapped the table a few times. When she asked about sugar, I flattened my hand, palm downwards, and slowly waved it left and right. As a casino worker, she knew the blackjack signals for yes and no. And [...]
Who qualifies for investment relief November 25, 2012 THE Seed Enterprise Investment Scheme (SEIS) was launched without much fanfare in April this year. Designed to help early-stage companies raise equity finance, it offers tax relief to investors, with the aim of offsetting the reticence some feel about staking their money on a high-risk venture. Not all small companies qualify, however. Firms must have [...]
EU budget stalemate: The battle is about more than European waste November 25, 2012 THE EU summit in Brussels last week ended the way most people expected: no agreement. The deal on the table from Hermann van Rompuy – president of the European Council – was for a €973bn (£787.5bn) budget over seven years in 2011 prices. It was significantly less than the over €1 trillion budget originally proposed [...]
The City needs partners to strengthen its place in Europe’s single market November 25, 2012 UNCERTAINTY over the future of Europe, and to an extent Britain’s role within it, continues to dominate the agenda, even as the latest summit in Brussels wraps up. Clearly there are strong views on both sides of this debate in the Square Mile. But – regardless of whether you are a eurosceptic, europhile or something [...]
