London obvious choice for float says boss of Kazakh miner March 27, 2019 LONDON was an “obvious” choice for Kazakh-based vanadium producer Ferro-Alloy Resources, its boss said yesterday as the company prepared for a listing in the City. The firm, which is targeting a market value of nearly £220m when it floats today, will gain access to investors with a good understanding of the exploration market, chief executive [...]
Debenhams shares skyrocket as Sports Direct mulls £61.4m bid March 27, 2019 The future of Debenhams is up in the air this afternoon as Mike Ashley battles with creditors to take control of the embattled department store chain. The Sports Direct boss and retail tycoon, who owns a near 30 per cent stake in Debenhams, revealed yesterday that he was mulling a £61.4m bid to take full [...]
Nine UK shares that tick all of Warren Buffett’s boxes March 26, 2019 By Kyle Caldwell from interactive investor. Looking for equity-based ISA inspiration? We run through the investment checklist of the Berkshire Hathaway chairman to identify UK shares that pass his stockpicking rules. American investor Warren Buffett is to the world of investment what Lionel Messi is to football: the greatest of his generation in the profession [...]
Mortgage finance firm Lendinvest taps three banks for £500m London float March 25, 2019 Online property finance marketplace Lendinvest has chosen three banks to lead its planned £500m float on the London Stock Exchange this year. It is understood Lendinvest, which provides funding for property investors, developers and landlords, has tapped Goldman Sachs and Barclays as joint global coordinators. Read more: Mortgage finance hub Lendinvest targets £500m London listing [...]
AI is coming for you: One in three City of London jobs at risk from automation March 25, 2019 More than one in three jobs in the City of London are under threat from automation, a study has found. The Office for National Statistics identified around 710,000 jobs in the Square Mile which they said were at risk from new automated technology. However, the figures make the City one of the top four safest [...]
Non-EU investment in London commercial property rose 75 per cent in 2018 March 25, 2019 Purchases of London commercial property by non-EU investors soared last year, rising 75 per cent on 2017. But investment from within the EU dropped sharply, according to figures from real estate research company Datscha. Read more: Retail property value set to plunge as online shopping rises Non-EU investors racked up £8bn in purchases in 2018. That [...]
No-deal Brexit could cause another chicken shortage, warns KFC boss March 22, 2019 KFC could suffer another chicken shortage if the UK crashes out of the EU without a deal, the fast food chain’s boss has warned. KFC UK and Ireland managing director Paula MacKenzie told the BBC the supply chain is the “lifeblood of the business” and warned a no-deal Brexit could lead to further shortages. Read [...]
City Moves for 22 March – who’s switching jobs at Rabobank, Legal & General and Exterion Media? March 22, 2019 Who’s on the move? Rabobank Rabobank, the global food, beverage and agribusiness bank, has appointed Thomas Levin as senior coverage banker in its global corporate clients team, based in London. Thomas brings more than 13 years of experience in corporate and investment banking. He joins from Mizuho Bank where he was responsible for originating M&A [...]
Data breaches drive losses from fraud up to £1.2bn March 21, 2019 The theft of personal information following data breaches drove an increase in money stolen through fraud to £1.2bn last year. A number of well known companies suffered high profile data breaches in 2018, including Facebook, Google, and British Airways. Read more: Fraud office launches investigation into London Capital & Finance Unauthorised fraud, where the account [...]
Online trading firm IG Group’s shares slide as it announces quarterly revenue drop March 21, 2019 Shares in online trading business IG Group tumbled today after it said its revenue fell in the three months to 28 February. IG Group has been hit hard by a regulatory crackdown on the offering of contracts for difference to retail clients. The company said its net trading revenue was £108m in the third quarter, [...]