London takes the lead in Bitcoin innovation June 28, 2015 London is fast becoming a global hub for development of innovations using digital currency Bitcoin. City institutions including the Bank of England, Barclays, UBS and Goldman Sachs are all looking into the potential for using Bitcoin to speed up processes in traditional finance. TRANSPARENCY Bitcoin is a digital currency which is bought online and [...]
Match.com and Tinder hoping to woo investors with flotation June 25, 2015 MEDIA mogul Barry Diller is looking for love from investors, with plans to float popular dating website Match.com and the mobile dating app Tinder. Diller’s IAC/Interactive Corp said yesterday that it was looking to list its dating business, Match Group, which includes both Match and Tinder. Investors welcomed the move, with IAC shares jumping seven [...]
Barclays ditches Credit Suisse in broker shake-up June 24, 2015 HIGH STREET bank Barclays has ended its 25-year broking relationship with Credit Suisse after appointing JP Morgan Cazenove to the role. The UK lender, which also has Deutsche Bank retained as a co-broker, selected the bank after putting its corporate broking mandate up for tender. Deutsche Bank has been co-broker since 2011. Broking mandates earn [...]
JPMorgan joins the ranks signing up to military code June 24, 2015 City initiatives to help ex-veterans are growing, Michael Bow finds FINANCIAL firm JP Morgan (JPM) last night became the first US investment bank to add its name to the UK Armed Forces corporate covenant, underscoring a new push by City firms to help ex-military personnel find work at a time of shrinking defence budgets in [...]
City Moves for 25 June 2015 | Who’s switching jobs June 24, 2015 Nexus CIFS The trade credit insurer has announced the appointment of two commercial underwriters. Gavin Brown joins from Euler Hermes UK, where he has been working since 2006, most recently as an account manager. Philip Oldfield (pictured) has held roles at Aon and Amlin Credit. Artemis Ed Legget is joining the investment management firm to [...]
Best of the Brokers for 24 June 2015 June 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS RBC Capital Markets has downgraded the Primark owner from “outperform” to “sector perform” with a target price of 3,200p. The broker said that while Primark relatively rare international roll-out story, the company is lacking earnings momentum and its sees more [...]
Double rainbow on City commute June 22, 2015 It may have been overcast, but Monday morning was far from dull after commuters were greeted by rainbow brights from Canary Wharf to London Bridge. Barclays and TfL have teamed up to wrap a DLR train in rainbows for Pride in London, which takes place this week. The train, which runs from Canary Wharf to [...]
Britain’s world-leading financial services industry is more than just the City June 21, 2015 Financial services” does not equal “London”. This is my message overseas – but it is equally important to say it on these shores as well. Like all lord mayors, I speak to and for the whole of the UK’s financial and professional services community – of which London is only a part. Our work is [...]
Tesco first quarter results and AGM: Three things to expect from Friday’s figures June 21, 2015 Tesco will update the market on its first-quarter figures – the first since reporting its biggest ever loss – while executives will face shareholders at its AGM. Here's what to expect from the supermarket on Friday. 1. The numbers will continue tumbling The supermarket’s first quarter is unlikely to tell a different story from the [...]
Malmaison and Hotel Du Vin sold to Singaporeans June 17, 2015 Boutique hotel chains Hotel du Vin and Malmaison have been sold by their private equity owners to Singapore-based property group Frasers Hospitality for £363.4m. The hotel duo, which has 29 sites across the UK and is formally known as MHDV Holdings, has been sold by US group KSL Capital Partners, which bought the chain in [...]