Proxy adviser Manifest has just collapsed into administration March 16, 2018 Shareholder advisory group Manifest has today crashed into administration. Moore Stephens has been appointed as administrator of the lead proxy advisor. According to March 2017 accounts – Manifest’s latest filing with Companies House – the firm had £1.3m of debts payable within the next 12 months. Representatives for the administrators were unable to comment on [...]
Bad debt Britain: Credit insurer claims hit highest level since the financial crisis March 16, 2018 Credit insurers are being hit with the highest level of bad debt claims for nine years, a clear indication UK businesses are facing the most challenging trading environment since the financial crisis. More than £4m is being paid out each week, the most since 2009, according to figures released today by the Association of British [...]
Big fish: The seven largest types of institutional investors March 7, 2018 Say whatever you want about the world, but there’s never been a better time to be an end investor. Many things investment professionals fear — fee compression, automation, artificial intelligence (AI), and blockchain — benefit clients through higher account balances and lower fees. Asset owners are the largest of those clients. Though they are frequently [...]
These are the stocks to long and hortin the aftermath of Italy’s general election, according to algos at Quant Insight March 4, 2018 Italy’s general election today could have profound consequences on European markets, and certain stocks will be winners or losers. Analytics firm Quant Insight, which counts a number of global asset managers and hedge funds on its books, uses powerful algorithms to track which stock could benefit from specified outcomes. Ladbrokes Coral, Capita, Royal Dutch Shell [...]
Trouble in store for House of Fraser as credit insurer pulls cover March 4, 2018 A credit insurer has pulled cover on House of Fraser, underscoring the difficulties faced by the department store following a disappointing set of Christmas figures. A spokesperson for House of Fraser said 20 of the business' 650 suppliers were affected by the credit insurer's decision. Those suppliers will now have to find new insurance, or [...]
Bitcoin price (BTC) just climbed above the “critical” $11,000 level March 2, 2018 Bitcoin has climbed back above the “critical” $11,000 level this morning. The cryptocurrency has been trading around the $10,000 mark for the past month with just a few breaks above $11,000. “This is a critical area as traders have failed to break above the $11k mark and we will be watching the price action closely,” [...]
Retail job losses could number 15,000 as industry strains under cost pressures March 1, 2018 At least 15,000 retail sector jobs have either been slashed this year or are now at risk as household names sink into administration, according to calculations by City A.M. Toys R Us and Maplin went into administration yesterday, putting more than 5,500 jobs in doubt. The double-whammy for the industry comes after fashion chain East [...]
AA share price crashes: Can new boss Simon Breakwell get road recovery giant the AA back on track after a series of setbacks? February 22, 2018 Shortly after the AA’s float back in 2014, boss Chris Jansen handed the reins over to Bob Mackenzie, a man he had referred to only weeks earlier as an “elder statesman”. Mackenzie was credited at the time with driving through the AA’s innovative management-buyout-cum-stock-market listing, a manoeuvre backed by big-name investors including Neil Woodford and [...]
Bank of America extends lease on London headquarters for another 10 years in commitment to UK post-Brexit February 21, 2018 Bank of America has extended the lease on its City headquarters by a decade in a sign the lender is committing to the UK with Brexit looming. A spokesperson confirmed to City A.M. today that the bank had extended its lease by 10 years to 2032, with Britain set to leave the EU in 2019, [...]
When the scheme is a scam: Top tips to protect your money against con artists February 7, 2018 As we see a rise in people investing online, fraudsters are changing the way they con people out of money. Worryingly, £87,000 is being lost to investment scams every single day, according to figures published by the UK’s financial watchdog last week. The Financial Conduct Authority (FCA) urged people to be vigilant when signing up [...]