Best of the Brokers for 10 June 2014 June 9, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com 3I GROUP Barclays has kept its “overweight” rating for 3i Group, while increasing the target price to 485p. The broker thinks there is a chance of higher capital returns and a pipeline for asset management expansion at the firm. COCA COLA HBC Deutsche [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
London verges towards record share issuance June 9, 2014 LONDON’S booming stock market is on track for its biggest fundraising haul in a decade, after the first five months of this year outpaced the same period in 2007, figures show. A total of 40 companies have raised £5.7bn since the start of the year, according to Thomson Reuters, topping the £4.93bn raised in the [...]
GDP to jump as measurement changes made June 9, 2014 MAJOR changes to the way that the UK economy is measured are set to come into force this week, which will likely make the economy significantly larger than previously thought. The Office for National Statistics (ONS) will tomorrow bring in changes to the country’s national accounts which could boost GDP by around five per cent. [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]
TBC Bank prices London listing at lower price June 6, 2014 GEORGIA’S TBC Bank has set the price for an initial public offering (IPO) of global depositary receipts to be traded in London at $13 (£7.74), valuing the company at around $640m. In a statement yesterday the bank said the total size of the transaction was $238.7m excluding shares offered as part of an over-allotment option. [...]
Challenger bank Aldermore hires two new non-executives June 6, 2014 ALDERMORE, the challenger bank founded by Phillip Monks in 2009, said yesterday it has hired two new non-executive directors to its board, including a former PwC partner. The bank named John Hitchins – who spent 38 years at the big four accountancy firm before retiring this summer – and Cathy Turner, who has worked at [...]
Tourism council seeks ways to boost UK image June 5, 2014 MINISTER for sport, tourism and equalities Helen Grant yesterday announced the creation of a new Tourism Council, which will involve government and industry figures. The council has been established to co-ordinate the promotion of the image of the UK as a tourist hotspot to the world, and will focus on boosting enterprise, increasing apprenticeships, and [...]
Motor industry revving up to break records June 5, 2014 CAR SALES in the UK rose for the 27th consecutive month in May, breaking a record set in the 1980s for the longest ever period of growth. Motorists registered 194,032 new cars last month, up 7.7 per cent on the same period a year ago, to give the industry its strongest May performance in a [...]
City Moves for 04 June 2014 | Who’s switching jobs June 5, 2014 IFM Investors The fund management firm has announced the appointment of John Carey as an investment director for European infrastructure debt in its debt investments team. He has over 13 years’ infrastructure experience and was most recently at Moody’s, where he was a senior analyst for infrastructure finance. Prior to that, he was a director in [...]