Bargain Booze and Wine Rack owner Conviviality Retail suspends trading after takeover talks with Matthew Clarke confirmed July 9, 2015 Trading in Aim-listed group Conviviality Retail has been suspended this morning, after confirming it is in takeover talks with Matthew Clark Holdings. Shares have been suspended because if the sale goes through it would constitute a reverse takeover under Aim rules, meaning privately-owned wholesaler Matthew Clark could become a public company without going through [...]
July Budget 2015: George Osborne pledges lowest corporation tax in G20 but new bank tax hits UK small lenders July 8, 2015 Chancellor pledges lowest corporation tax in the G20 – but casts punitive net over the UK’s small lenders Chancellor George Osborne ushered in a new tax regime for British banks yesterday, dialling down the controversial bank levy while introducing a new corporation tax surcharge for the entire lending industry. In a summer Budget that the [...]
July Budget 2015: Challenger bank share prices plummet – Aldermore, Virgin Money, Shawbrook and OneSavings suffer worst day ever July 8, 2015 Publicly-traded British challenger banks suffered their worst day on record yesterday, as chancellor of the exchequer George Osborne said yesterday that a new corporation tax surcharge would take a significant chunk out of the industry’s profits. Reading-based retail bank Aldermore, which floated on the London Stock Exchange earlier this year, saw its share price [...]
City Moves for 09 July 2015 | Who’s switching jobs July 8, 2015 Markel International The insurer has appointed David Sawyer as senior underwriter and head of professional indemnity in its professional and financial risks division. He joins from Travelers Insurance Company, where he was responsible for running its professional indemnity portfolio. Axa Investment Managers Paul Squires has been promoted to global head of trading and securities financing [...]
Ashes 2015: Joe Root rides his luck to stoke England revival July 8, 2015 Centurion Joe Root admitted that he rode his luck before leading England’s recovery from a treacherous opening to the first Investec Test against Australia at Cardiff yesterday. Read more: Cook vows to go on attack to win Ashes Vice-captain Root once again proved England’s driving force after the hosts slumped to 43-3, joining forces [...]
Antony Jenkins fired from Barclays: Here’s what people are making of it July 8, 2015 It might not be the best day for Antony Jenkins, but Barclays investors seem pretty happy with the news that he's been ousted. Barclays share price leapt 2.7 per cent at the open, rising to 3.2 per cent in mid-morning trading, comfortably leading the FTSE 100. The board has praised Jenkins for his work [...]
Chris Tremlett on Ashes 2015: Squads are evenly matched in all areas but I see tourists going unbeaten and retaining the urn July 8, 2015 OPENERS An outstanding issue for Australia is who partners David Warner: Chris Rogers or Shaun Marsh. I expect Rogers to get the nod because he is well versed in opening the innings in English conditions, where the ball tends to swing, after spells with Middlesex and Derbyshire. It could be vital having someone used to [...]
City Moves for 8 July 2015 | Who’s switching jobs July 7, 2015 Investec The bank has appointed Chris Hare to its economics team, focusing on both UK and global economic issues. He joins from the Bank of England, where he was responsible for monitoring issues such as the impact of economic uncertainty on activity. Santander Asset Management Ileana Salas has been appointed global head of institutional [...]
Greek drama and mining pull FTSE to six-month low – London Report July 7, 2015 BRITAIN’S benchmark equity index dropped yesterday to its lowest level in around six months, hit by persistent concerns over Greece and a pullback in mining stocks as metal prices fell. The blue-chip FTSE 100 index closed down 1.6 per cent at 6,432.21 points, around its lowest since mid-January. Global stock markets lost ground after a [...]
Ashes 2015: England captain Alastair Cook vows to go on attack to secure win July 7, 2015 England skipper Alastair Cook has vowed to showcase an aggressive brand of captaincy in a bid to wrestle the urn from the grasp of bitter Ashes rivals Australia. Read more: Squads are evenly matched but I see tourists going unbeaten On the eve of today’s First Investec Test at Cardiff, both captains appeared to [...]