Quindell names new boss to unravel mess August 17, 2015 EMBATTLED insurance outsourcer Quindell yesterday appointed tech development guru Indro Mukerjee as its new chief executive, two months after the departure of Robert Fielding. The appointment was made public amid investigations by the Serious Fraud Office and Financial Conduct Authority into previous business and accounting practices. The announcement ends 80 days of uncertainty for Quindell [...]
Bond buying, risks to growth and Grexit threat: Seven key takes from the European Central Bank’s July minutes August 13, 2015 The European Central Bank (ECB) has released the minutes from the meeting of its governing council which took place on Wednesday and Thursday this week. Here are seven key extracts: Read more: ECB "on track" to complete €1 trillion QE programme 1. Bond buying is becoming more difficult Portfolio managers had reported that purchases of eligible [...]
Quindell share price plummets by a third on its first day of trading since June August 6, 2015 The share price of troubled insurance claims processor Quindell fell almost 40 per cent to 79p this morning as trading in the company's shares resumed for the first time since it suspended them in June. The news came the day after the the Serious Fraud Office (SFO) launched an investigation into the company, following a [...]
Tube mayhem rocks London businesses August 6, 2015 Retailers and leisure companies in London are braced for a multi-million pound hit as Tube workers go on strike for the second time in a month. On the day of the last strike on 9 July, London shopping malls suffered a nine per cent drop in footfall compared with the same day last year, according [...]
August 2015 TfL Tube strike update: Action could cost London retailers and restaurants millions as footfall tipped to fall 10 per cent August 5, 2015 Shops, restaurants and bars in London are bracing themselves for a sharp drop in footfall and bookings as a result of the Tube strike, which starts at 6:30pm tonight and will run throughout Thursday. The British Council of Shopping Centres (BCSC) said that on the day of the last strike on 9 July, London shopping [...]
Quindell faces criminal investigation by Serious Fraud Office August 5, 2015 The Serious Fraud Office (SFO) has launched a criminal investigation into the Aim-listed tech company Quindell. Quindell said in a market update that it was informed of the probe this afternoon and the SFO is investigating its business and accounting practices. The investigation comes after the troubled company reported £238m annual losses and restated previous [...]
Quindell shares expected to resume trading tomorrow it reports £238m loss reported and restates previous year’s results amid FCA investigation August 5, 2015 Quindell shares are expected to resume trading tomorrow after more than a month of suspension from Aim, as it reported annual losses of £238m in the latest chapter in a tumultuous saga which has spurred a second investigation by a City regulator. An investigation by the Financial Reporting Council (FRC) has forced the company to restate [...]
Collective myopia has gripped markets: It’s time to rediscover long-term capital August 3, 2015 “The world would be a better place if businesses stopped thinking so much about short-term results and focused more on the long term,” wrote Adi Ignatius, editor of the Harvard Business Review, in January 2014. The same is sometimes said of asset managers and the investors they serve. A longer-term approach to investment can lead [...]
Britain’s global influence will fade if it turns itself into an Atlantic Singapore July 27, 2015 President Obama’s carefully chosen words last week are a reminder of what is at stake in the forthcoming referendum on Britain’s place in Europe. Known to be a cautious and contemplative leader, the President spoke directly to the British people with a very clear message: the UK’s membership of the European Union “gives us much [...]
Best of the Brokers for 20 July 2015 July 19, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DIXONS CARPHONE Numis reiterated its “add” rating on the retailer, noting that the group posted strong underlying profit growth during 2015, “a period of significant corporate change” as the broker described it. Numis added that the merger process continues to run smoothly and [...]