RENT November 17, 2011 HEAD OF RENTALS AT AYLESFORD INTERNATIONAL Q.I believe the agent letting my house is overvaluing it. I’ve compared my property to other similar houses on the market and they all are significantly cheaper. Should I change agent? A.It is important to keep a dialogue with your agent who will be able to tell you why [...]
BEST OF THE BROKERS November 16, 2011 CARLSBERG Goldman Sachs has downgraded the brewer to “neutral” following recent outperformance, and has a target price of 428 crowns. While the firm’s results last week were strong, the broker now sees better upside potential elsewhere in the drinks sector, given Carlsberg’s exposure to the competitive western European markets. Goldman expects Carlsberg’s Russian beer market [...]
Profits rise as Burberry stays upbeat November 15, 2011 BURBERRY’s chief executive Angela Ahrendts said demand across flagship stores in cities such as New York and Hong Kong was helping the group to defy the downturn, as the fashion house reported strong first half results. The 155-year-old British brand, known for its signature raincoats, made 60 per cent of retail revenue in 25 cities [...]
Bolton’s blues over slump in Chinese fund November 14, 2011 HE IS the star fund manager whose stock picks have been the envy of the City for the best part of 30 years. Now, however, a year after Anthony Bolton left Britain for Hong Kong, he has found life is far from easy in the East. Yesterday Bolton (pictured) apologised to investors for the “very [...]
AT A GLANCE: BOLTON’S TAKE ON MARKETS, THE WORLD AND WAR November 14, 2011 Market view Bolton struck a bullish tone in his half-yearly message to investors, despite a “most disappointing” six months. He said a strong market recovery was “likely” over the next few months after sentiment plunged at the beginning of October to the lowest levels he had seen in his career. “The most important reason that I [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 13, 2011 FINANCIAL TIMES PRIVATE EQUITY GROUPS BOOST STAKES IN HOT FUNDS Investors in the secondary leveraged buy-out fund market are using further leverage to finance such purchases, adding another layer of risk and stirring up memories of the debt-fuelled private equity boom ahead of the financial crisis. While private equity groups in Europe and the US [...]
Italian gold may be just the job to save the day: A mini solution to Italy’s debt crisis November 10, 2011 GETTING the gold out of Italy isn’t easy. Just ask Michael Caine. However, if as some commentators are now speculating, there is no other option, the only thing worse than trying to sneak it out in a coach along treacherous Alpine roads would be trying to sell it. The odds of getting anything close to [...]
HOME FROM HOME FOR HYDE PARK OLIGARCHS November 9, 2011 LUCA del Bono has been busy ever since he exited Quintessentially, the concierge service he started with Ben Elliot, to start his property fund Del Bono & Partners. The leisure-focused fund has bought £150m-worth of property over the last two years, recently acquiring the C London restaurant in Mayfair and 50 St James’s, where del [...]
Labour’s plan for business: Government should unite profit with social purpose November 9, 2011 WHEN private equity firm NPM Capital and the current management bought out a sleepy Dutch carpet manufacturer called Desso in 2007, they were seeking to do what all successful investors do: to find a gap in the market from which they could profit. And profit they have. Following the buy out, Desso’s market share rose [...]
Markets slip as Italy debt crisis deepens November 9, 2011 Dramatic political changes at two of the Eurozone’s crisis-ridden economies initially boosted world stocks but markets went into reverse as it became clear that Italy’s debt woes were escalating. Italian Prime Minister Silvio Berlusconi said late yesterday that he would step down after parliament passes budget reforms. Greece, meanwhile, was working create a consensus government [...]