The world’s biggest sovereign wealth fund is set to reshape the FTSE 100 June 16, 2014 Times are changing for one of the world’s biggest sovereign wealth fund. The Qatar Investment Authority (QIA), the $175bn behemoth which invests money on behalf of the Qatari state, is expected to dampen its more ambitious dealmaking. It will instead adopt an increasingly "conservative" approach, according to a research note published today by political strategists [...]
Banks appointed as BSkyB mulls plans to buy Sky Italia and Sky Deutschland June 16, 2014 BSkyB has appointed banks as it weighs plans to create a pan-European satellite TV operator by buying up Sky Italia and Sky Deutschland. Morgan Stanley and Barclays, who already act as advisers to BSkyB, have been retained for the proposed transaction, according to Reuters. The BSkyB proposal is said to be an £8bn deal that [...]
City Moves for 16 June 2014 | Who’s switching jobs June 16, 2014 Wilmington Pedro Ros has been appointed chief executive officer, as incumbent Charles Brady prepares to retire from the business-to-business information firm. Ros joins from Creston, where he is head of strategic insight. He was previously chief executive and chairman of WPP-owned TNS. UBS Global Asset Management Martina Kay has been appointed global head of human [...]
Caixabank could bid to buy Barclays’ Spanish business June 12, 2014 SPANISH lender Caixabank is considering snapping up Barclays’ assets in Spain, as the British bank winds down much of its presence in western Europe. The continental businesses are a drag on Barclays’ returns and it wants to sell or close them to focus on more profitable areas. But it had not expected to sell them so soon [...]
Analyst Views: Following its results, do you think Mulberry is positioned for growth? June 12, 2014 HELEN NORRIS | BARCLAYS We would expect improvements as the year progresses against easier comparatives and with product launches. The recent Tessie Bag introduction has been received very well with full price like-for-likes recovering and there are hopes for the Cara Delevingne’s collection in September. JOHN CUMMINS | WH IRELAND Following the results, we leave [...]
B&M Retail bags £1.1bn to buck market gloom June 12, 2014 B&M RETAIL yesterday shook off the gloom in the new issues market to debut the biggest stock market flotation in London since Royal Mail. The budget chain, chaired by former Tesco boss Sir Terry Leahy, raised £1.1bn by selling 40 per cent of the company to City investors. Shares rose in informal trading to close [...]
Small firms missing out on £46m swaps compensation from banks June 12, 2014 BRITAIN’S biggest banks have contacted every firm that might have been mis-sold interest rate swaps, the City watchdog said yesterday as the final 500 letters were sent out this month. So far, more than £1bn has been paid out in compensation. The year-long task took one month longer than planned. But now the process of [...]
Pfizer blames price for Astrazeneca deal collapse June 11, 2014 Drug giant Pfizer yesterday said the £69bn bid to take over UK rival Astrazeneca collapsed due to price disagreements, as shares in the UK company rallied in the hope of a revival of talks. Pfizer finance chief Frank D’Amelio told a US healthcare conference yesterday that the two sides did not come to a deal [...]
City Moves for 12 June 2014 | Who’s switching jobs June 11, 2014 JLL The real estate services firm has announced the appointment of Paul Hodge as a director of loan valuation. He joins from CBRE, where he was an associate director in its real estate finance team, responsible for the development of its loan valuation business. Deutsche Bank The investment bank has appointed Marc Benton as head [...]
Hollande snaps up Bank of America’s Boone June 10, 2014 CHIEF European economist at Bank of America Merrill Lynch, Laurence Boone, has been snapped up by French President Francois Hollande to be his new economic adviser after Emmanuel Macron stepped down. Boone was previously an economist at Barclays in Paris.