Best of the Brokers October 16, 2012 ASOS Morgan Stanley has started covering the online retailer with an “overweight” rating and a target price of 3,000p, cheering the firm’s superior sales offering and entrepreneurial management team. BT The telecoms group is Nomura’s top pick in the sector, with a “buy” rating and a price target of 260p. BT is set to benefit [...]
City Moves | Who’s switching jobs September 30, 2012 Alpha Strategic The investment firm has appointed Alistair McKay as its new chief executive. He was most recently a senior adviser to Asset Management Finance, a US private investment firm. McKay is a chartered accountant and has also previously held senior roles at Credit Suisse and Morgan Stanley. Michael Page Kate Chapman has been appointed [...]
Vodafone will have to fork out £500m to make most of CWW September 27, 2012 VODAFONE will have to spend £500m on integrating Cable & Wireless Worldwide (CWW)’s infrastructure into its own network, the firm announced yesterday, as it counted the cost of the £1.3bn acquisition. However, Vodafone said the benefits of the purchase were better than many analysts had expected, leading to cash generation of £150m-200m by 2016. CWW [...]
Duck & Waffle doesn’t have the greatest kitchen in the world but the views are ace September 24, 2012 RESTAURANT DUCK & WAFFLE Heron Tower, 110 Bishopsgate, EC2N 4AY FOOD ** SERVICE **** ATMOSPHERE ***** Cost per person without wine: £44 MY HOUSE is what estate agents would euphemistically call “lower ground”, which translates almost exactly as “basement”. Outside the front door, running underneath the pavement, is a cupboard, which would, once upon a [...]
Who’s switching jobs September 20, 2012 Cording Group John Partridge has been appointed executive chairman of the real estate investment firm. He is the founder and former executive chairman of Cordea Savills. Partridge also previously served as chief executive of the property fund management businesses at Morgan Grenfell and Henderson. Altium The investment bank has appointed Aksana Pekun as managing director [...]
Talks fail to break deadlock in dispute over Euro rugby future September 18, 2012 EUROPEAN rugby’s future remains in the balance after talks in Dublin yesterday failed to avert the threat of a breakaway from English and French top-flight clubs. Stakeholders in European Rugby Cup [ERC], organisers of the Heineken Cup and Amlin Challenge Cup, agreed to reconvene in Rome next month to continue dialogue. It comes after Premiership [...]
Hermes shareholder activists jump ship to join RWC Partners September 18, 2012 HERMES Fund Managers, one of the largest asset managers in the UK, has sold its $800m (£492.5m) activist shareholder division Hermes Focus Asset Management to London-based boutique fund manager RWC Partners. The three team division, owned by Hermes’ parent company the BT Pension Scheme, will transfer to RWC next month. The funds use shareholder activism [...]
BT opens wallet to sign Beeb’s Jake Humphrey September 18, 2012 A FTER a breakthrough 2012 that saw him shine as one of the lead anchors of the BBC’s Olympic coverage, the Beeb’s Formula 1 frontman Jake Humphrey has been snapped up by BT to present its Premier League offering from next season. Humphrey’s signing is the latest big money move from BT, after it shelled [...]
BT hires new chief executive of struggling global services arm September 17, 2012 BT’S troubled global services division has appointed a fourth chief executive in as many years after current head Jeff Kelly, who returned the department to a degree of stability, chose to leave. Kelly will be replaced by BT veteran Luis Alvarez at the start of next month, the company said yesterday. Alvarez has been with [...]
Heineken Cup successor will dazzle, say BT September 13, 2012 THE HEINEKEN Cup will be superseded by a “dazzling new European tournament” in two years’ time, says BT Vision chairman Marc Watson. English and French clubs’ breakaway plans gathered pace this week when BT Vision struck a £152m deal with Premiership Rugby that they say gives them the rights to show European games involving English [...]