London Report: BT and Shire lift FTSE as markets remain bullish November 11, 2013 BRITAIN’S FTSE 100 rose yesterday, boosted by signs of a strengthening global economy and major deals for pharma group Shire and telecoms group BT. Shire rose to an all-time high after beating competitors to buy ViroPharma, in a $4.2bn deal implying a 64 per cent premium to the stock price of the US rare diseases [...]
What the other papers say this morning – 08 November 2013 November 7, 2013 FINANCIAL TIMES Currencies probe shifts to the US A global probe into alleged manipulation of the multibillion-dollar currencies market has widened its focus to include the US, with Barclays putting three New York-based traders on leave. They included foreign exchange spot traders Russell Katz and Jerry Urwin, two of these people said. Mr Katz and [...]
JQW planning £140m London public offering November 4, 2013 CHINESE e-commerce operator JQW has announced its intention to raise up to £15m in a flotation on London’s Alternative Investment Market (Aim) next month. JQW provides small and medium-sized Chinese business an online platform to advertise their products to other businesses. The company is hoping to use the funds raised to expand its business to [...]
The lawyer who has built his career breaking down barriers November 3, 2013 Stephen Kon, the new co-deputy chairman of King & Wood Mallesons, tells Elizabeth Fournier how years at the forefront of European law have left him ready to take on China LAST Friday, Stephen Kon joined a new law firm, one with a very, very long name. Overnight, the senior partner of London-based SJ Berwin (SJB) [...]
China sees stable manufacturing growth but underlying conditions are weak November 1, 2013 The Chinese manufacturing sector improved at the beginning at the beginning of the fourth quarter, so suggests the latest PMI surveys released on Friday. However breaking down into the figures, London-based consultancy, Capital Economics suggests that China is due for slower growth while small firms struggle. The government's policy of reducing the availability of credit [...]
What you need to know before the open – 01/11 November 1, 2013 US markets rounded off October markedly higher, despite yesterday's negative finish. Data from Europe does continue to worsen, thought, with anticipation of a potential European Central Bank rate cut next week pushing the euro down. Chinese manufacturing PMI, coming in overnight, has eased worries over a softness in recent Chinese economic activity. On the official [...]
Letters to the Editor – 01/11 – Regional growth, National security, Best of Twitter October 31, 2013 Regional growth [Re: Why the rest of the UK is failing to keep up with London’s explosive growth, Wednesday] Paul Ormerod is spot on – rigid pay structures outside of London have surely played a role in decreasing competitiveness in the rest of the country. National wage rates in the public sector don’t help. There’s [...]
Luxury goods sales are up but hit by weak yen October 28, 2013 SPENDING on luxury goods this year is expected to top last year’s sales, with growth in the Americas overtaking that of China, a worldwide study revealed yesterday. In a reversal of the trend in recent years, spending on luxuries in the Americas is expected to grow four per cent this year, as opposed to 2.5 [...]
What the other papers say this morning – 28 October 2013 October 28, 2013 FINANCIAL TIMES Big Six face challenge over bills Britain’s energy regulator is on course to clash with the “Big Six” power companies this week over the importance of wholesale gas and electricity prices in rising customer bills. Data from energy regulator Ofgem show wholesale prices have been almost flat over the past year, rising by [...]
Pernod warns of slower profit growth as spirits dip in China October 24, 2013 PERNOD Ricard yesterday warned profit growth would slow in its current financial year after weakness in Chinese demand for its Martell cognac and Ballantine’s whisky hit sales in the first quarter. The world’s second-largest spirits group by sales – after Diageo – said it expected demand in China to start improving only from the second half [...]