CMC confirms it will float on the London stock market earlier than expected in February 2016 and hopes to raise more than £240m, despite market swings January 13, 2016 Spread-betting company CMC Markets today confirmed it was proceeding with plans to float on the London stock market. The long-awaited announcement followed weeks of speculation in the City that financier and former Conservative treasurer Peter Cruddas was looking to take his company public with help from Goldman Sachs and Morgan Stanley, who have been advising CMC on the [...]
General Electric cuts 6,500 jobs in Europe from Alstom’s energy businesses and 660 jobs could be at risk in the UK January 13, 2016 General Electric has announced it is cutting 6,500 jobs in Europe from energy companies it bought from Alstom. Three per cent of GE's UK workforce could be cut, affecting up to 660 people, although City A.M. understands the company is hopeful it will be fewer than 600. GE is the second largest overseas industrial employer in the [...]
Buying a house? It will only takes you 53 minutes to decide whether to go for it January 13, 2016 It's one of the most important, and expensive, decisions you will make, but most of us only take 53 minutes to decide whether to buy a house according to a new survey. UK house-buyers are more pensive than a year ago, the same survey by eMoov.co.uk in 2014 revealed people only needed 38 minutes to [...]
Someone should tell Bruce Willis: Nasa has a new Planetary Defence Coordination Office in case of Armageddon January 13, 2016 You can cross Armageddon-style asteroids off your list of things to worry about in 2016: Nasa has launched a new Planetary Defence Coordination Office to oversee all of the space agency's efforts to protect the Earth. The office will track and classify all comets and asteroids that pass near the Earth, warn of potential impact, and plan and co-ordinate an [...]
Goldman Sachs is biding its time and waiting for markets to fall further in 2016 before it starts buying stocks again January 12, 2016 The stock markets can fall further, is the message from Goldman Sachs' managing director for portfolio strategy, Christian Mueller-Glissmann, but when they do it will be the time to buy. A note from Goldman Sachs said "We certainly expect to see a good buying opportunity at some point, but either fundamental conditions need to improve, or valuations will need to compress further [...]
McDonald’s could face a hefty fine if found guilty of abusing its market position after an EU antitrust complaint is filed by consumer groups January 12, 2016 Three Italian consumer groups have co-signed an antitrust complaint against McDonald's, alleging the fast food giant has abused its dominant market position in Europe. If found guilty, McDonald’s could face a maximum fine of as much as 10 per cent of its global revenue, as well as any additional measures the Commission deems necessary to secure fair [...]
Grindr snapped up by Beijing Kunlun Tech and Dalian Wanda buys a slice of Hollywood with Legendary Entertainment studios in Chinese shopping spree January 12, 2016 It takes the January sales to a new level. Today two Chinese giants went shopping: Beijing Kunlun Tech bought a controlling stake in Grindr, and Dalian Wanda bought Hollywood film studio Legendary Entertainment. Dalian Wanda Group announced today it had bought a stake in the studio, which produced the Batman trilogy, Inception, The Hangover and Jurassic World, for $3.5bn (£2.43bn). The [...]
Everybody panic: negative credit ratings for companies are at the highest level since the recession in 2009 and 2016 spells more defaults January 12, 2016 Investors didn't need another reason to be bearish going into 2016, but they have one: negative credit ratings for companies are at the highest level since the recession trough in 2009. At the end of 2015, 17 per cent of global corporate issuers had a negative outlook, compared to only six pr cent with a positive outlook, according to the latest data from Standard [...]
Sterling plummets to lowest level in more than five years after weak industrial data showed manufacturing and industrial production fell in November January 12, 2016 The pound is at its weakest level against the dollar since June 2010, after data from the Office for National Statistics showed industrial production in the UK missed expectations in November. Industrial production in November grew just 0.9 per cent compared to 2014, and manufacturing output fell 1.2 per cent from the year before, causing sterling [...]
Working an extra hour a day on your iPhone or tablet will wipe out all your holiday allowance and make you less productive January 12, 2016 All the those after-hours emails and late finishes are effectively cancelling out your holiday allowance. Eight in 10 managers surveyed by the Chartered Management Institute (CMI) said they worked an extra hour a day, amounting to 29 days a year, more than the average 28 days of holiday allowance. One in 10 managers said they worked [...]
