Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
Manchester United manager Jose Mourinho tempted by China’s riches but wants long-term Old Trafford stay December 21, 2016 Manchester United boss Jose Mourinho admits he is tempted by the riches on offer in Chinese football but insists he wants to remain in the Old Trafford hotseat for the foreseeable future. Contrary to speculation, former Chelsea, Real Madrid and Inter Milan manager Mourinho is adamant the club have not offered him fresh terms, although [...]
Should investors bulk up on bulk commodities ready for a bumper 2017? December 20, 2016 Resources firms were among the biggest victims when animal spirits were at their worst. Could they be among the biggest gainers now that fund managers have a spring in their step? Too much overcapacity, sluggish growth, debt piles, reduced dividends… Yes we’ve heard it all before. But 2016 has been another transition year for the [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
Suited and booted in beautiful Vietnam: how to do Da Nang in style December 19, 2016 Vietnam is not the kind of place I expected to need a suit. Shorts, sunblock and mosquito spray, sure. But tailoring was not on my check-list. While Thailand, Malaysia and to an extent the Philippines all have an established super-luxe travel market, Vietnam – at least outside of Ho Chi Minh City and Hanoi – [...]
After subdued 2016, contrained by Brexit and Trump, these bankers are predicting a 2017 bounceback for UK M&A December 19, 2016 Despite mega-deals involving the London Stock Exchange, Arm Holdings, Sky and a big takeover approach from British American Tobacco (BAT), even the most optimistic M&A banker would concede it’s been a somewhat subdued year for UK deals. After a record 2015, a year in which Megabrew was finally agreed and Anglo-Dutch oil major Shell tied [...]
Habito founder Daniel Hegarty talks fintech mortgages, bigamy and working above a kebab shop December 19, 2016 Many people have a career change. Before venturing into fintech, Daniel Hegarty, founder of digital mortgage broker Habito, was a professional musician, composing for TV and film and touring internationally. In 2007, he joined a few people trying to work out how to do loans on the internet in real time, in a pre-launch company [...]
Chelsea boss Antonio Conte says Chinese spending power “a danger to every club in the world” as Oscar exit looms December 16, 2016 Chelsea manager Antonio Conte believes every club in the world is under threat of having star players prised away by cash-rich Chinese teams. Blues midfielder Oscar is on the verge of finalising a mooted £50m move to Shanghai SIPG, where he is reportedly set to earn an eye-watering £400,000-a-week. Conte expects to receive a significant proportion [...]
Heron Tower still standing as overseas lenders flock to financing deal December 15, 2016 The City of London’s tallest skyscraper has attracted new lenders to the UK commercial property market, as its financers reached their syndication target. ING and Landesbank Baden-Wurttemberg (LBBW) have now completed the syndication of their £400m loan against Heron Tower. The pair have syndicated over £200m, exceeding their 50 per cent target. It is understood [...]
Chinese mega cities increase dominance in Schroders Global Cities 30 index December 15, 2016 Fund manager Hugo Machin explains the trends behind the latest moves in the Schroders Global Cities index Chinese cities had a strong showing in the first Schroders Global Cities 30 index, launched in the summer. In the first update to the index, that dominance has only increased. Four of the top five spots are now [...]