StanChart mulls leaving UK as bank levy rises April 28, 2015 STANDARD Chartered is considering leaving Britain over mounting pressure from the bank levy, its finance director said yesterday. It comes after HSBC’s bosses said the hostile atmosphere in the UK could push it to move to another country. Hong Kong or Singapore are both considered likely destinations for the pair. Standard Chartered expects to pay [...]
Best of the Brokers for 28 April 2015 April 27, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SINCLAIR IS PHARMA Finncap reduces its rating to “Hold” with a target price of 43p. Sinclair is now free to sell its new product, Silhouette Instalift, in the US, although its approach to that market is part of the ongoing strategic review and [...]
No clocking off in Apple Watch battle: Why Swiss watchmaker H. Moser & Cie boss Edouard Meylan is bullish about the future April 26, 2015 Even without the usual queues of devoted fans outside its stores, Apple created enough hype around its long-awaited watch that when it went on sale earlier this month, the limited first run sold out within hours. The £12,000 Watch Edition – made with gold – was one of the first of its 38 style options to [...]
Pernod lifted by rebound in Chinese market April 23, 2015 STRONG demand from China helped lift like-for-like sales by seven per cent at French beverage firm Pernod Ricard’s third quarter results revealed yesterday. Despite a recent crackdown on the conspicuous consumption of alcohol in China, the company – which derives 15 per cent of its profits from the country – saw sales surge 38 per [...]
High season at Ten Trinity Square: Architect Suzette Vela Burkett on restoring a grand Tower Hill landmark April 23, 2015 One of the city’s finest buildings, Ten Trinity Square, is set to re-open at the end of 2016 as a Four Seasons Hotel, with luxury residences on top. It was opened by Prime Minister David Lloyd George in 1922 as the Port of London Authority and it took 11 years to build. It also hosted [...]
The future is now: Investors spotting futuristic themes have been able to get ahead April 23, 2015 THEMATIC INVESTING Most savvy investors have a portion of their portfolio given over to emerging markets. Investors have revelled in the future potential of these economies, with their rapid pace of urbanisation and their burgeoning young populations. Whether you know it or not, investing in the future of emerging markets is a form of [...]
John Bennett explains why Europe is back in vogue: Stock markets are on form and euro weakness could provide an extra boost April 23, 2015 The Eurozone has lurched from crisis to crisis over the past five years. Despite the best efforts of the European Central Bank (ECB), the region has remained largely unresponsive to resuscitation attempts, and is still on life support. Deflation, non-existent economic growth, and ongoing battles with Greece – the prognosis does not look good. But [...]
How to avoid a hangover: Investing in fine wine April 23, 2015 Tom Welsh examines the risks and opportunities of this alternative asset class. At an auction in Hong Kong late last year, the record for the most expensive super-lot of wine ever sold was broken. Going for the equivalent of about $1,700 per glass, 114 bottles of Romanee- Conti Burgundy were bought for approximately $1.6m by [...]
House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
Suitors take a New Look at fashion chain April 19, 2015 NEW Look’s private equity backers are mulling plans to offload the chain – and its burgeoning presence in China could attract Chinese buyers into a bidding war for the group. Chinese conglomerate Fosun, which took a stake in Thomas Cook last month, CDH and Citic Capital were all reported yesterday to have taken a look [...]