UK Bitcoin exchange shuts up shop March 31, 2014 Bit121 a UK-based Bitcoin exchange has suspended trading and will be closing temporarily from today. The exchange has not confirmed when it will reopen. Bit121's site functionality was removed on the 26 March. However, the site did provide the following exceptions: 1. Users will be able to view their account balance and account statement2. Users [...]
Financial firms to lead £200bn spending spree in the UK March 31, 2014 FINANCIAL services firms are planning to splash out on staff and offices this summer, leading the way in an investment boom that will see the UK’s biggest businesses spend £200bn by the end of next year, according to two reports. Research released this morning by Deloitte estimates that UK firms with sales of more than [...]
Mobile banking transactions doubled in 2013 March 31, 2014 MORE than 2bn banking transactions will be carried out using mobile apps this year, the British Bankers’ Association said today, in a new landmark for the industry. The number of transactions on mobile phones and other devices more than doubled last year to 18.6m per week, and the pace is accelerating. Currently 5.7m transactions are [...]
Best of the Brokers for 31 March 2014 March 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ITE GROUP Peel Hunt has placed ITE Group under review following a serious currency hit for the conferencing group and added effects of lost Ukrainian sales. The broker said that for 2015 the ongoing geopolitical impact of the Russian conflict with Ukraine has [...]
The tech whizz who still has faith in the trusty telephone March 30, 2014 Annabel Palmer talks to Paul Lees, the ex-BT programme manager who co-founded the conference call firm for SMEs Powwownow WANDER down any street and it will instantly become clear just how far the telecoms industry has changed in the past decade. A growing minority of households has now gone mobile-only, in Britain and elsewhere. But [...]
Canary Wharf owner sees shares rocket 21pc on results March 28, 2014 Songbird Estates, the developer of Canary Wharf, has posted a pre-tax profit jump from £201.5m to £900.8m. Shares leapt 13 per cent at the open this morning, and are now up an impressive per cent at 235p per share. Underlying profits have dropped marginally to £22.4m, but the firm got a boost from surging London [...]
Analyst Views: What did you think of yesterday’s results? March 28, 2014 DANIEL GARROD | BARCLAYSThe tone of the release is positive, particularly on improvement in primary and secondary cash equity volumes. Yield on secondary equities is highlighted as having come down as would be expected, but nevertheless we believe the net result is positive. PHILIP MIDDLETON | BANK OF AMERICA MERRILL LYNCHThe company reports good performance [...]
Babcock slides on rights issue to buy Avincis March 28, 2014 BABCOCK International’s share price plummeted yesterday, after the engineering firm announced a £1.1bn rights issue to fund the acquisition of heavily indebted helicopter services company Avincis. The FTSE 100 company said it is buying Avincis for £920m from private equity firms Investindustrial and KKR, but will also assume Avincis’ debt of £705m. The deal will [...]
City Moves for 28 March 2014 | Who’s switching jobs March 28, 2014 Canaccord Genuity Wealth Management The wealth management firm has announced the appointment of David Esfandi as chief executive for the UK. He was most recently at Ashcourt Rowan, where he was a senior leader in its asset management division. AllianceBernstein The investment management firm has appointed Mike Fullalove as product development manager for Europe, the [...]
London Report: Financial and mining stocks weigh on FTSE March 28, 2014 BRITAIN’S top stock index fell yesterday, with miners leading the retreat on lingering concerns their earnings could be hurt by weaker metals prices following an economic slowdown in China and improving supplies. Banks also lost ground after the Federal Reserve blocked the US units of Royal Bank of Scotland and HSBC from paying higher dividends [...]