South African motor and gold strikes ending September 8, 2013 WORKERS in South Africa’s motor and gold industries will return to work this week after strikes that have crippled operations at some of the country’s biggest producers were resolved yesterday. Prolonged labour disputes in the two key exporting industries had threatened to compound the woes of Africa’s largest economy, still reeling from last year’s violent [...]
Corporation tax collected via HMRC probes falls to six year low September 8, 2013 EXTRA corporation tax collected through HMRC investigations fell to a six year low last year, fresh figures released today show. The fall in corporation tax collected by HMRC’s large business division, which handles FTSE 350 companies, is due to a lower rate of tax and less aggressive tax planning by corporates. The large business division, [...]
Daimler aims for self-driving car by 2020 September 8, 2013 GERMANY’S Daimler plans to start selling a self-driving car by 2020 as part of its campaign to regain the top spot among premium carmakers, its development chief said yesterday. Carmakers and suppliers across the world are working on ways to make driving safer and more comfortable through automation, and the race is on to bring [...]
Wonga preparing for future Indian marketplace expansion September 8, 2013 PAYDAY lender Wonga has paid £3.2m for a 75 per cent stake in Nahar Credits, an Indian lender commercial lender that will give Wonga a headstart in the Indian market. Nahar Credits previously focused on commercial loans to small businesses, but has a licence permitting it to offer loans to individuals in India. In its [...]
City Moves for 09 September 2013 | Who’s switching jobs September 8, 2013 Ernst & Young The professional services firm has hired Sheila Nicoll as a senior adviser in its asset management practice. She was most recently director of conduct policy at the Financial Services Authority. Prior to that, she was deputy chief executive of the Investment Management Association. Coutts The private bank has announced the appointment of [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
Best of the Brokers for 09 September 2013 September 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com JD WETHERSPOON Panmure Gordon has reiterated its “buy” rating and target price of 806p for Wetherspoons, which is due to report its full-year results on Friday. The broker expects the pub chain to report a “solid” two per cent growth in like-for-like sales [...]
London Report: UK retailers set to reveal if tills ringing again September 8, 2013 RETAILERS are set to reveal this week how big an impact the UK recovery is making as consumers return the shops. Reports from Dunelm, Home Retail, Morrisons, Next, Ocado and Sports Direct will show how confident buyers are in the improving economy. Ocado, which will update the market on Thursday, was rated a “buy” by [...]
Wall St The Week Ahead: Volatility likely as US debates strike on Syria September 8, 2013 US stocks could be in for a jolt of volatility this week as Congress debates whether to authorise a military strike against Syria and as the Federal Reserve’s pivotal decision on winding down stimulus nears. US equity markets have remained on a relatively even keel recently even as others such as US Treasuries and emerging [...]
The startup spicing up Britain’s wealth management industry September 8, 2013 Annabel Palmer meets Nick Hungerford, who switched the Valley for Vauxhall to found the online investment management firm Nutmeg THE British public has long been accustomed to depositing their earnings in a bank account, or investing through an established stockbroker. But Nick Hungerford wants to disrupt the centuries-old wealth management industry, in precisely the same [...]
