The NHS isn’t unique – and we’ll never fix its many flaws until we realise this June 25, 2015 As an undergraduate student, I spent an Erasmus semester in a small town in Spain. During a flat viewing, the landlady who showed me around pointed at the microwave in the kitchen, and said: “This is a microwave. Do you know what a microwave is?” I got a bit confused by the question, which sounded [...]
Best of the Brokers for 24 June 2015 June 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS RBC Capital Markets has downgraded the Primark owner from “outperform” to “sector perform” with a target price of 3,200p. The broker said that while Primark relatively rare international roll-out story, the company is lacking earnings momentum and its sees more [...]
Analysts warn that Ladbrokes – Gala Coral mega merger odds on for competition issues June 23, 2015 Analysts are warning that Ladbrokes' multi-million pound merger with Gala Coral could have to jump serious competition hurdles. The combined company would command 4000 retail shops – about 45 per cent of the UK market – and give the group much better odds in the online gaming space too. The retail position in [...]
Popped corks as Greene King-Spirit pub partnership gets green light June 22, 2015 Pub operator Greene King yesterday toasted the competition watchdog’s approval of its £774m takeover of Spirit. The Competition and Markets Authority (CMA) said it was satisfied the proposed sale of 16 pubs by the combined group would fix concerns raised by the company’s acquisition of Spirit Pub Company, and would not be referring the [...]
Virgin Active to bulk up in size in Asia and Africa June 22, 2015 Virgin Active, one of the world’s largest gym chains, said yesterday it will step up growth in Asia and Africa, and embark on a complete overhaul of its online platform this year following, its acquisition by South African billionaire Christo Wiese. The fitness group was on course for a listing on the Johannesburg stock market [...]
Aer Lingus sets out terms of €1.4bn IAG offer June 19, 2015 A takeover of Aer Lingus by International Airlines Group (IAG) – the parent company of British Airways – came one step closer this morning, after the Irish airline published the full terms of IAG's offer for the group and called an extraordinary general meeting. The deal has been sparked by Ryanair, which has been told [...]
Billion Poundland: Profits up 18.6 per cent for budget retailer in first year since IPO June 18, 2015 Poundland’s profits soared 18.6 per cent in the 12 months to 29 March as it passed £1bn in sales for the first time. Read more: Poundland brings forward competition probe into 99p Stores deal The figures Underlying pre-tax profit hit £43.7m, an 18.6 per cent increase on 2014’s £36.8m. Total sales rose 11.9 per cent to [...]
The great adventure: How to navigate the world of equity crowdfunding as an investor June 18, 2015 Debt and equity crowdfunding have the potential to revolutionise small business funding. In 2012, The Breedon Report predicted a funding gap of £59bn for UK companies by 2016, if nothing was done. The government’s response was to make funds available via alternative finance providers and to enhance the benefits to equity investors via the Enterprise [...]
Best of the Brokers for 16 June 2015 June 15, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DAIRY CREST Shore Capital reiterated its “buy” recommendation on the dairy food company after the Competition and Markets Authority said it is minded to refer the firm’s proposed merger with Muller-Wiseman for an inquiry. The broker is confident the issues can be solved [...]
Forget the doom-mongers: Investing in infrastructure is as safe as it sounds June 15, 2015 Received wisdom says that infrastructure is a safe and boring haven for long-term investors looking for yield in a low interest rate environment. Recently, however, the asset class has come under attack for being more risky than the low-yielding government bonds for which it is touted as an alternative home for investors’ cash. Even the [...]