JP Morgan hints it could join party as Bitcoin continues to flirt with $50k February 16, 2021 Crypto at a Glance Did Bitcoin hit $50k overnight? Sadly, it seems that such talk is premature and limited to just one or two exchanges. Although a few sources called it, they were very much in the minority and it looks like the wait continues. Will it happen this week? If the good news continues to [...]
Consultancy Zedra continues UK expansion with Inside Pensions buy February 16, 2021 Zedra has bought Inside Pensions, marking its sector UK acquisition in six months. The transaction will allow Zedra, which specialises in active wealth and fund services, to expand its presence into the pension services space. Inside Pensions helps trustees to run their schemes by advising on compliant board administration and best practice governance. The firm [...]
Maybe analyst recommendations DO add value February 16, 2021 This is something all investors know for a fact: following analyst buy or sell recommendations isn’t going to lead to outperformance in the long run. Or is it? A new study may cast some doubt on the conventional wisdom. In “Analyst Recommendations and Anomalies Across the Globe,” Vitor Azevedo and Sebastian Müller, CFA, examine 3.8 million analyst forecasts in [...]
BHP profits from operations leap to $9.8bn February 16, 2021 The world’s largest miner reported its best first-half profit in seven years on Tuesday. BHP Group was buoyed by China’s strong appetite for iron ore to support infrastructure. China’s reliance on commodity-intensive measures to sustain economic growth has sent prices of raw materials to multi-year highs. The Covid-19 vaccination push has also brightened outlook for [...]
Markets gain momentum: Wall Street hits new highs February 16, 2021 Wall Street’s main markets hit new record highs. US markets hit all-time highs tonight, with investors piling into economically sensitive stocks on hopes of more fiscal aid to lift the world’s biggest economy from a coronavirus-driven slump. The S&P 500 was up 0.1 per cent and the Dow Jones gained 0.31 per cent. That took [...]
Ocean Outdoor swings to loss as pandemic batters advertising sector February 16, 2021 Billboard operator Ocean Outdoor today said it expects to post a loss in 2020 after repeated coronavirus lockdowns devastated the advertising sector. The digital ad firm, which operates sites including Piccadilly Lights, forecast adjusted earnings to fall from £33m to a loss of £400,000. Revenue is expected to drop 38 per cent to £86m. It [...]
Japan overtakes UK as world’s second largest pension market February 16, 2021 The UK pensions market was overtaken in size by Japan in 2020, pushing the UK to third place. The United States retained its position as the largest pension market in the world, making up 62 per cent of worldwide pensions assets. Japan and the UK represented 6.9 per cent and 6.8 per cent respectively. The [...]
Competition watchdog raises concerns over £6.5bn Gumtree takeover February 16, 2021 The competition watchdog has raised concerns over the £6.5bn takeover of Gumtree by Norwegian rival Adevinta, warning it could push up prices and reduce choice for consumers. In July Adevinta struck a cash and stock deal with Ebay that would create the world’s largest online classified ads business. The merger would bring together advertising platforms [...]
Storage firm Safestore hails ‘excellent’ UK trading February 16, 2021 Safestore, the self-storage firm, said full-year earnings are likely to hit the top end of expectations following strong trading in the first quarter, driven by an “excellent” UK result. Group revenue was up 9.8 per cent and like-for-like sales were up 6.6 per cent, with a 8.3 per cent surge in UK sales. Occupancy increased [...]
Serco agrees on $295m acquisition of WBB February 16, 2021 International service company Serco has today announced an agreement to acquire Whitney, Bradley & Brown (WBB) for $295m. The purchase, which is expected to close in the second quarter of 2021, will strengthen Serco’s position providing programme management services to the Department of Defence. This has been a critical growth area for the company in [...]
