Investec readies new plane debt fund for take-off within weeks September 15, 2013 INVESTEC’S aircraft financing unit is planning to launch a $500m (£315m) fund that will invest in debts linked to aircraft within the next few weeks. The South African bank has signed up institutional investors to the new fund, which it believes is the first of its kind in the world. One of the bankers working [...]
Analyst of the year September 15, 2013 The role of the analyst has become increasingly important at such an uncertain time in the economy, when everyone is looking for guidance. This category’s nominees all stand out for their impressive foresight in their respective sectors and their revered reputations in the industry. Here is our pick of the analysts truly at the top [...]
Inside Track: Banker Ian Hannam is back in the fray – not before time September 12, 2013 IAN HANNAM’S announcement last week that he is financially backing Heathrow Hub, a scheme to boost the airport’s capacity, was also a reminder to the financial world at large that he is back in business. Hannam, who left his senior job at JP Morgan after being fined £450,000 by the City regulator for alleged market [...]
Imperial to replace long standing finance chief September 12, 2013 IMPERIAL Tobacco has appointed the former vice chairman of KPMG as its new financial chief. Oliver Tant will step into the role on 5 November working alongside his predecessor, Bob Dyrbus, until he steps down on 31 December. Chairman of Imperial Tobacco Iain Napier said on Tant’s appointment, “He joins us with a proven track [...]
Patagonia Gold’s losses narrow September 12, 2013 Argentina-focused miner Patagonia Gold yesterday posted pre-tax losses of $8.8m (£5.6m) for the first half of 2013, compared to $12.4m in the first half of 2012. The company had cash of $0.7m at the end of the period. “[The firm’s] cash position doesn’t fill one with confidence, although it did announce in July that its [...]
Best of the brokers for 13 September 2013 September 12, 2013 BETFAIR Betfair retains its ‘hold’ rating after an encouraging interim management statement, with a target price of £9.45. Active UK customers have increased by 26 per cent in August, and international markets have performed ahead of expectations even where investment has ceased. MELROSE INDUSTRIES Citi research downgrades Melrose to ‘neutral’, but raised its target price [...]
Secret Number can give Godolphin another shock Leger win September 12, 2013 BILL ESDAILE PREVIEWS TOMORROW’S LADBROKES ST LEGER No other Classic in the world can boast as rich a history as the Ladbrokes St Leger which was first staged way back in 1776. Just a year ago Camelot attempted to secure a historic Triple Crown only to be foiled by Godolphin’s 25/1 shot Encke. The bookies [...]
Fanshawe’s Seal Of Approval to stamp her authority September 11, 2013 THIS is the time of year when you start to see the odd funny result, especially when it comes to fillies. Today’s Group Two Park Hill Stakes (3.15pm) is likely to feature a hot favourite in Michael Bell’s The Lark, who was third in the Investec Oaks, but I’m eager to take her on. I’m [...]
African Minerals back in the red September 11, 2013 African Minerals, the Aim-listed iron ore miner founded by the colourful former boss of Regal Petroleum Frank Timis, yesterday posted half-year earnings of $99m (£63m) and a net loss of $29.4m. Full-year sales guidance was reduced from 13 to 15m tonnes to 11 to 13m tonnes, due to operational issues with trans-shippers. “The reduced guidance [...]
Analyst Views: How has AB Foods’ update impacted your outlook for the year? September 9, 2013 MARTIN DEBOO | INVESTEC“This year is set to beat expectations on a strong finish from Primark…But in the other major profit centre of sugars the outlook in 2014 and beyond is downbeat, with EU sugar prices falling fast and further pricing pressures elsewhere …We expect to be upgrading our 2013 numbers a tad but downgrading [...]