What slowdown? JP Morgan says Asian companies like Tata and Nikkei will drive global M&A boom in the quest for long-term growth November 19, 2015 The good times look here to stay for the global M&A market, as 88 per cent of Asian companies say mergers and acquisitions are vital to their growth strategy, according to a market report from JP Morgan. Over the last 12 months, deal volumes in the Asia Pacific region have grown 61 per cent $1.05 [...]
Oil prices: Massive cost-cutting isn’t enough and the oilfield sector could shrink by a third as EY predicts prices will stay low beyond 2020 November 19, 2015 The oil sector could reduce by a third, as cost-cutting won’t be enough for many companies to survive low oil prices, according to a report out today from EY. “Consolidation is inevitable,” as companies need more than the 20-30 per cent cost-cutting already delivered for the long-term, according to EY, which predicts that oil prices [...]
Despite emerging market turbulence UK assets under management are set to reach a record £7.4 trillion in 2015 November 19, 2015 UK assets under management are set to reach a record £7.44 trillion by the end of 2015, well above the pre-recession peak. Funds managed in the UK are predicted to increase by nine per cent this year, the seventh successive year of growth, according to data from TheCityUK, which represents a slight slow-down from the [...]
Edge Investments launches £40m creative industries fund with the government’s British Business Bank to address arts “funding drought” November 18, 2015 Edge Investments, the creative industries fund that invested in the Clangers reboot, has launched a £40m creative enterprise fund. Edge Creative Enterprise Fund is designed to address “the funding drought” in the arts industries, and brings together private investors with funding from the government’s British Business Bank. It is the first fund of its kind, and [...]
French private equity firm Ardian raises €1.1bn for co-investment fund November 18, 2015 French private equity firm Ardian has completed a €1.1bn (£769m) fundraising for its fourth co-investment fund. The fund's strategy is to co-invest a minority stake in larger private equity transactions, with two pools, so investors can choose their exposure to the US and European markets. Ardian, which until 2013 was AXA Private Equity and is [...]
Bond Street is the world’s fourth-most expensive shopping street, after sites in New York, Hong Kong and Paris November 18, 2015 Bond Street is the world’s fourth-most expensive shopping street, with rents of $1,321 (£868) a year per square foot. The northern blocks of New York’s Fifth Avenue, home to the jewellery store made famous in the film Breakfast at Tiffany’s along with Apple’s glass cube and Saks Fifth Avenue, top the chart with yearly rent of [...]
UK businesses are cashing in on the 2016 Olympic Games in Rio de Janeiro with £100m in contracts November 18, 2015 UK companies are set to cash in on the next Olympic Games held in Rio de Janeiro next year. Some 25 British businesses have already benefitted from contracts worth more than £100m for the 2016 Olympics in Brazil, and will be “working closely” with Brazilian companies, according to UK trade and Investment. Government figures suggest the London [...]
Former Aviva Investors analyst Mothahir Miah banned and fined £139,000 by FCA for cherry picking hedge fund trades November 17, 2015 The Financial Conduct Authority (FCA) has hit a former investment analyst at Aviva Investors with a £139,000 fine and banned him from taking part in any regulated activity in the financial services industry. Mothahir Miah deliberately delayed booking and placing the trades of hedge-funds by several hours, in order to allocate those which had benefitted from [...]
RBS announce a major £4.6bn senior debt buy-back scheme to reduce funding costs November 17, 2015 RBS today announced a senior debt buy-back, including £1.9bn in sterling, $2.1bn in dollar and €1.3bn in euro senior notes, amounting to £4.6bn in total, or around 38 per cent of the company's total issued senior debt. A debt buy-back allows the holders of the debt, or notes, to exchange it for cash, allowing the company [...]
Fewer FTSE 250 executives took a pay rise this year but bonuses are still 120 per cent of salary according to Deloitte report November 13, 2015 FTSE 250 “are once again demonstrating restraint” in their salary awards, in response to investor pressure. This year 38 per cent of chief executives and 29 per cent of executive directors received no pay rise, up from last year when 30 per cent and 27 per cent respectively had no salary increase, according to a Deloittereport, [...]
