Three ex-ICAP staff in court to face fraud allegations over Libor April 14, 2014 A TRIO of former workers at interdealer broker ICAP are due in court today over claims they were involved in efforts to manipulate key interest rate benchmark Libor. Daniel Martin Wilkinson, Darrell Paul Read and Colin John Goodman face allegations of conspiracy to defraud. They are scheduled to appear at Westminster Magistrates’ Court at 10am. The Serious Fraud [...]
L&G loses board member April 14, 2014 Legal & General has announced Mike Fairey will retire from the board after three years’ service. The former second in command at Lloyds Bank has over 35 years experience in the City, having started his career at Barclays in 1967. He joined TSB Group before its merger with Lloyds and retired from the bank in [...]
Peugeot cuts models to try to restart profits April 14, 2014 PSA PEUGEOT Citroen, the loss-making French car company, is slashing the number of models it makes from 45 to 26 as part of its recovery plan. The car firm, which signed a €3bn (£2.5bn) rescue deal with Chinese group Dongfeng and the French government in February, said it will “take the example and reference of [...]
Best of the Brokers for 15 April 2014 April 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com AO WORLD Numis has launched its coverage of the appliances retailer by urging investors to “buy” with a target price of 350p. The broker believes the recently listed firm could take up to 40 per cent of a growing online market as more [...]
April heat can’t stop the City’s marathon stars April 14, 2014 THE SUN was cracking the flags yesterday as an estimated 36,000 people took part in the London Marathon. As ever, the City certainly didn’t disappoint, with hundreds of financial professionals pulling on the Lycra and taking part. Barclays alone had an estimated 150 runners racing, while private equity firm LDC had 14 people running for [...]
London Report: Cheer for UK as real pay up and inflation falling April 14, 2014 BRITAIN’S economy is set to put the recession firmly behind this week with news of the first real wage growth in four years and falling unemployment. Inflation and unemployment data are expected to show wage growth in March beating inflation. Capital Economics’ Paul Hollingsworth said: “The latest earnings data should show that the squeeze on [...]
Analyst Views: How are Hays and the other recruiters faring? April 10, 2014 PAUL JONES | PANMURE GORDONA good update from Hays, with impressive UK growth and further evidence of a pick-up in activity levels and profitability. We believe recruitment stocks could now deliver increasing levels of profitability as activity and productivity levels improve, and with increasing client confidence the outlook remains positive. DAVID O’BRIEN | SHORE CAPITALWe [...]
Foreign tourists spending more on British trips April 10, 2014 ALMOST seven million people visited the UK from overseas this winter, generating a fifth more for the British economy than they did a year earlier. In the three months to the end of February, 6.95m international visitors splashed out £4.55bn while they were in the country, up 21 per cent on the same period last [...]
City Moves for 11 April 2014 | Who’s switching jobs April 10, 2014 Saffery Champness The accountancy firm has made two senior appointments. Jamie Cassell (right) joins its business advisory group as a partner. He specialises in advising entrepreneurs and owner-backed businesses. Cassell was previously a partner at Blick Rothenberg and a director at BDO. Niraj Patel has been promoted to partner. He joined in 2000, and was [...]
Cameron forced onto the defensive as Miller quits April 9, 2014 DAVID Cameron was struggling to restore his authority last night, after his attempt to keep Maria Miller as culture secretary despite overwhelming public anger ended in failure. Cameron acknowledged that public concern over MPs’ abuse of expenses was “still very raw” and that more had to be done to rebuild trust. Ed Miliband accused Cameron [...]