UK house prices: The bespoke mortgage challenge for entrepreneurs when buying a house – Investec Comment September 20, 2015 Buying a house can be tricky at the best of times, but if you own your own business, are self-employed, or work in private equity, the process can be more difficult still. Why? The first stumbling block is income. Some lenders' application processes may be fairly black and white: you either meet the criteria [...]
Glencore share price: Debt-struck resuorces giant calms investors with £1.6bn cash call September 16, 2015 Glencore’s share price closed 5.2 per cent higher yesterday, after a £1.6bn share placing reassured investors that the debt-struck resources giant could turn around its fortunes. The FTSE 100 commodities trader and miner rallied to 134.7p per share, having plummeted to an all-time low of 118.10p on Tuesday, due to market jitters about Glencore’s unwieldy [...]
City Moves for 17 September 2015 | Who’s switching jobs September 16, 2015 STANHOPE CAPITAL The investment office has appointed Bernard Kalfon as partner to develop its private and institutional client base outside the UK. He has over 20 years’ experience and has held roles at Société Générale Asset Management, Salomon Brothers-Citibank, and Bear Sterns. In 2009, he co-founded Nexar Capital Group. INVESTEC PRIVATE OFFICE Rafe Garvin has [...]
Best of the Brokers for 16 September 2015 September 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HOME RETAIL GROUP Haitong Investment Bank has reduced its “fair value” target by 18 per cent to 115p to reflect greater uncertainty over longer term success of Home Retail Group’s modernisation plans for Argos. The broker said that promotional spend in the run-up [...]
Glencore share price rises with $2.5bn placing, climbing back from record low September 16, 2015 Shares in Glencore opened up by as much as four per cent on Wednesday morning, pleasing investors with a new share placing. The debt-stricken company is seeking to reverse its fortunes with the emergency share placing, which raised the $2.5bn (£1.63bn) it had promised investors. The commodities trader and mining company saw its shares plummet [...]
The entrepreneurial landscape of power – Investec Comment September 13, 2015 The British power and electricity landscape is changing, and the business of power is changing too. Partly this is down to the growth of renewables. Renewable energy generation had a record quarter this year, accounting for 22.3 per cent of total electricity generation. We’ve seen the emergence of a new wave of independent suppliers – [...]
Miners come up gold for FTSE 100 as London rallies – London Report September 10, 2015 Asian market gains helped the FTSE to rally yesterday for a third straight session – also boosted by encouraging corporate news from mining companies and financial firms. The FTSE 100 index was up 1.4 per cent at 6,229.01 points at its close, still around 12.6 per cent off April’s record high, after uncertainty over China’s [...]
Bargain Booze parent Conviviality Retail’s share price soars as confirms its buy out of Matthew Clark from Punch Taverns and Hertford Cellars for £200m September 8, 2015 Bargain Booze parent company Conviviality Retail's share price leaped this morning after confirming it is buying out wholesaler Matthew Clark for £200m. The deal, a reverse takeover that will be subject to shareholder approval, is being struck via Conviviality's subsidiary Conviviality Brands, and will create a major player in the industry with a combined annual turnover [...]
How to do a private sale of your business – Investec Comment September 6, 2015 When it comes to selling a business, one size certainly does not fit all. This is particularly true in a private sale and for medium-sized companies, which tend to be tightly staffed. Where there is a wall of cash waiting to invest in growing companies, it is easy to be tempted into a “spray [...]
Trevor Bayliss urges Jonny Bairstow to shine after opting to rest jaded Jos Buttler September 6, 2015 England coach Trevor Bayliss has urged wicketkeeper Jonny Bairstow to seize his chance after deciding to rest Lancashire’s Jos Buttler for the rest of the one-day series with Australia. Buttler struggled with the bat during the Investec Ashes, making just 122 runs at an average of 15.25, while his score of four in the first [...]