Investment bank fees plummet August 13, 2013 Fees paid out to investment banks globally in the retail sector are down seven per cent since last year, figures released yesterday show. Around $1.18bn (£764m) has been paid so far this year, down from $1.27bn last year. It is the slowest year-to-date period for fees in the sector since 2010, the figures published by [...]
Carney’s pledge is welcomed by Resolution boss August 13, 2013 MARK Carney’s decision to introduce long-term guidance on interest rates is a major boost for British business, the board of FTSE 100 insurer Resolution said yesterday. “Were rates to rise then we would stand to profit,” chief financial officer Tim Tookey told City A.M. “It’s very helpful for the UK economy for the Bank of [...]
Analyst Views: Do these results justify Resolution’s restructuring? August 13, 2013 MARCUS BARNARD ORIEL SECURITIES The company is starting to look more interesting as it reorganises its businesses to add value and grow. The shares have performed well but the company is still addressing issues of integration and reorganisation. We would look for more evidence of delivery and growth to drive a further re-rating. Hold. [...]
Fracking for gas attracts strong support within UK August 13, 2013 A NEW poll of public attitudes to fracking has indicated that more people in the UK support than oppose its use. The survey, conducted by ICM for the Guardian, showed that nearly half, 44 per cent, said that fracking should take place in the UK. The results indicate that a plurality of respondents in every age group [...]
Chair of DMGT mulls stock bid August 13, 2013 VISCOUNT Rothermere is understood to be inching towards a bid for the 10.8 per cent of Daily Mail General Trust’s (DMGT) voting shares he does not already own. Rothermere, the DMGT chairman, could make the bid through his trust, Rothermere Continuation Limited (RCL). The move, first reported by Sky News, would see RCL buy out [...]
New Look in hot demand thanks to July weather August 13, 2013 FASHION retailer New Look yesterday said July’s heatwave helped the group get off to a “strong start” in the second quarter of the year, with skirts, dresses and swimsuits flying off the shelves. The company said that despite volatile trading in the first quarter – when the UK experienced the coldest spring for 50 years [...]
US regulator issues subpoenas over metals warehouse probe August 13, 2013 THE STATES-SIDE probe into the metals warehousing industry intensified yesterday, after it emerged that the US commodities watchdog has subpoenaed a number of firms including Swiss commodities giant Glencore. The US Commodity Futures Trading Commission (CFTC) sent the subpoenas last week, sources familiar with the matter said, after a letter from the regulator last month [...]
Brand Index: Blackberry’s new model failed to stem its brand decline August 13, 2013 THERE was a spike for BlackBerry on Twitter on Monday with 41 per cent of the UK Twitter population exposed to messages about the brand. They were of course hearing the news that the mobile phone manufacturer is setting up a committee to explore potential business model options, including selling off the company. So what [...]
Consumer sector ready for M&A spree with a £16bn warchest August 13, 2013 BRITAIN’S top 30 consumer firms are sitting on a £16bn warchest, according to research out today by Deloitte, raising the curtain for renewed mergers and acquisition (M&A) activity as confidence returns to the sector. The seven largest listed firms have amassed £13bn alone after rebuilding their balance sheets following the recession and reining back on [...]
US retail sales data points to pick up in consumer spending August 13, 2013 A GAUGE of US consumer spending rose in July at its fastest pace in seven months, a sign of quicker economic growth that could strengthen the case for the US Federal Reserve winding down its economic stimulus programme. Other data yesterday showed US small business optimism improving in July, while import prices rose less than [...]
