Australia gets ready to vote out Labor party September 1, 2013 AUSTRALIA’S Prime Minister Kevin Rudd, struggling to avert a landslide election defeat this Saturday, pledged tax breaks and education programmes yesterday to counter a slowing economy in a last-ditch plea to voters. Labor leader Rudd, launching his campaign in the battleground state of Queensland, sought to capitalise on unease among voters about promised conservative opposition [...]
Pirc attacks Mulberry for failing to put incentive scheme to vote September 1, 2013 PIRC, the influential shareholder group, has accused Mulberry of “serious governance failure” for not putting its pay report to a vote at its annual meeting this Wednesday. Although the luxury retailer is not required as an Aim-listed group to present a remuneration report, “it is considered to be best practice”, Pirc said. Mulberry declined to [...]
Shares for rights could lure talent to smaller firms September 1, 2013 AS NEW rules came into force yesterday allowing employees to waive certain workers’ rights in exchange for shares in their employer, lawyers have said the legislation could drive top talent towards the UK’s smaller companies. Under the new scheme, first proposed by chancellor George Osborne last year, employees can exchange certain rights – including statutory [...]
Euston property owner clinches £80m financing in spite of HS2 September 1, 2013 SYDNEY & London Properties has sealed an £80m refinancing deal for three office blocks fronting Euston Station, the planned terminus for HS2 and Britain’s sixth busiest railway station. Lloyds Bank has agreed to refinance One Euston Square and two office blocks known as the Podium and the Tower at One Eversholt Street for a further [...]
Chinese industry posts strongest growth seen since April last year September 1, 2013 OFFICIAL Chinese government statistics indicated early yesterday morning that the country’s manufacturing sector is expanding at its fastest rate in 16 months. For August’s manufacturing purchasing managers’ index, the government’s statistical agency recorded a score of 51, the best seen since April last year. Any number above 50 indicates that a sector is growing. New [...]
King of the supermarket: The long-serving boss of Sainsbury’s talks shop September 1, 2013 Justin King speaks to Elizabeth Fournier as he nears 10 years at the top of the UK’s third-biggest retailer IT’S not been an easy 2013 for Britain’s supermarkets. From January’s discovery of horsemeat in the UK food chain to the disastrous collapse of a Bangladeshi clothing factory in April, retail bosses have been forced to [...]
City Moves for 2 September 2013 | Who’s switching jobs September 1, 2013 Stonehage The wealth management and advisory services company has announced the appointment of Simon Clark as managing director of group services. Clark was most recently at ACPI, where he was chief operating officer. Prior to that, he was chief financial officer at Heartwood, and he has previously held various roles at RBS Financial Markets, Greenwich [...]
Best of the Brokers for 2 September 2013 September 1, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ASHTEAD Numis has a “hold” rating and a target of 640p ahead of the equipment rental firm’s first-quarter results on Wednesday. The broker is expecting “very strong” figures, with revenues up 17 per cent, but sees no reason to chase the shares as [...]
London Report: UK data to show economic health September 1, 2013 ECONOMIC figures for August, released this week, are likely to give a more accurate view of the growing strength of the UK economic recovery. Manufacturing PMI numbers will be released today, followed by construction data tomorrow and services news on Wednesday. The week also includes the Bank of England’s rate decision on Thursday and a [...]
Wall St The Week Ahead: US awaits wave of new statistics September 1, 2013 WALL Street is braced for a wave of economic reports this week, including the August jobs report, which might prove decisive in finding whether the economy is strong enough for the Federal Reserve to dial back its bond purchases in mid-September. However, The US market is closed today for Labor Day. Anxiety about the Fed [...]
