‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Renault appoints new COO May 30, 2011 Carmaker Renault has appointed Carlos Tavares as chief operating officer. Chief executive and chairman Carlos Ghosn said Tavares will oversee the Renault 2016 – Drive the Change programme, which is aimed at increasing the group’s growth in international markets and its share in new technology, particularly electric vehicles.
Samsonite sets price for its HK listing May 30, 2011 LUGGAGE maker Samsonite, backed by private equity firm CVC Capital Partners, moved closer to a $1.5bn (£911m) Hong Kong initial public offering, setting an indicative range for the deal yesterday as it bets on Asian demand for global consumer brands. Samsonite will join companies such as L’Occitane and luxury brands such as Prada and Coach [...]
Beware saturation as brands flock East May 30, 2011 BY betting on the future spending power of China’s consumer market, Samsonite is the latest in a string of retailers looking to make the most of the country’s booming luxury goods market. French skincare group L’Occitane priced a $700m initial public offering (IPO) in Hong Kong last year, and fellow aspirational brands Burberry and Prada are [...]
JP Morgan is City’s number one adviser May 30, 2011 JP MORGAN Cazenove has maintained its place at the top of the City’s broker advisory tables despite losing five clients since last quarter, according to the latest figures from financial data firm Hemscott. The company now has 239 clients – still a fair way off its peak of 251 in early 2010 but streets ahead [...]
AIM clients help Evolution climb ranking May 30, 2011 EVOLUTION Securities is fast becoming the go-to house for AIM-listed companies, adding several clients in the past quarter to push it up the ranks in both the broking and advisory categories. Evolution, led by Alex Snow (pictured), is now placed sixth in the overall broking and financial advisers tables, having jumped three and four places [...]
Insurers rate regulation as biggest risk May 30, 2011 WORRIES over the burden of new regulation on insurance companies have soared in the past year, pushing it to the top of a list of insurance industry risks published today. Insurers believe regulation is now a bigger threat than meeting tough new capital requirements or the risk of stagflation in the world economy, the Centre [...]
Travel firms to target organic growth in 2012 May 30, 2011 THE UK travel industry expects no further growth for this year but has so far shied away from mergers as a way to weather the rocky market. Over half of travel agencies, airlines and cruise companies expect to see no growth in passenger numbers this year, claims research by Barclays Corporate today, while a further [...]
CITY MOVES | WHO’S SWITCHING JOBS May 30, 2011 BDO The accounting and professional services firm has appointed Tom Taylor as a risk director. Before joining BDO, Taylor worked at Lloyds Banking Group for four years, where he worked as chief risk officer and operations director in the bank’s European insurance operation. Prior to that, Taylor spent seven years as a director at Ernst [...]
BEST OF THE BROKERS May 30, 2011 SPORTINGBET Evolution Securities rates the online bookmaker “buy” and has a target price of 70p. The broker thinks the £119m acquisition of Australian rival Centrebet makes strong strategic and financial sense, coupled with high quality European business and good current trading. Evolution adds that trading in May has been robust. AVIVA Killik & Co rates [...]
Muted gains for FTSE are expected with US payrolls May 30, 2011 WHILST UK and US stock markets were closed for an extended holiday weekend yesterday, other global markets struggled to find direction in thin volume, doing little more than drift sideways. Greek troubles continue to permeate investor caution. In out-of-hours trading, GFT is forecasting the UK index to edge higher, with prices suggesting an open of [...]
