What you need to know before the open May 12, 2014 European markets are set to open lower this morning, following Asian counterparts, as investors await with caution for events in Ukraine to unfold. Yesterday, anti-Kiev rebels declared victory in a referendum on self-rule in eastern Ukraine. Western leaders are threatening further sanctions around energy and the financial services, if Moscow moves to disrupt the planned [...]
Philip Green plans stock market return after buying Mysale stake May 11, 2014 RETAIL tycoon Sir Philip Green has bought a 25 per cent stake in an Australian shopping website that is plotting a float on the London Stock Exchange within months. Mysale is Australia and Asia’s largest provider of online flash sales, where shoppers can buy clothing and homeware brands at a discount for a short period [...]
London Report: Inflation report to give clues for future rates rise May 11, 2014 ALL EYES will be on Bank of England governor Mark Carney this week when he delivers the week’s big economic set piece event with the Bank’s quarterly inflation report on Wednesday. Investors will be hoping his forecasts for growth and inflation give a clearer signal about when interest rates will finally rise. Britain’s growth forecasts [...]
Job cuts in the City: A case study in political double standards May 8, 2014 IT’S amazing how fashions change. Just a few years ago, prior to the financial crisis, Big Pharma was demonised. It could do nothing right, and was blamed for many of the world’s ills. At the very same time, banks were lionised and lauded as the new saviours of the economy, with Alex Salmond, the leader [...]
Saga outlines plan to sell half of firm to public if demand is high May 8, 2014 OVER-50s holiday and insurance provider Saga could sell up to half of the business to retail and institutional investors if the company prices its forthcoming float on London’s stock market at the top end of its 185p to 245p price range. The business, which was originally listed in London in 1978 before being taken private [...]
Inside Track: The City’s broking shake-up continues with Oriel sale May 8, 2014 WHEN the founders of Oriel Securities debated a name for the research and stockbroking firm in 2002 they couldn’t initially come to an agreement. Simon Bragg, now chief executive, suggested it should be called Oriel because three of the six had been to the Oxford college of the same name. Now, 12 years later, the [...]
US corporate results round up May 6, 2014 Shares in Office Depot rise on plan to shut 400 stores in the States Office Depot has raised its forecast for full-year adjusted profit and said it would close at least 400 stores in the United States over two years, sending the office supply retailer's shares up about 15 per cent at the start of [...]
Clipper Logistics plans London float as it eyes European growth May 6, 2014 LOGISTICS firm Clipper yesterday unveiled its plans to float on the London Stock Exchange, as it looks to accelerate its European expansion drive and take advantage of the growing online retail market. The company provides tailor-made logistics solutions for pure-play online retailers such as Asos and traditional high street retailers adopting multichannel strategies such as [...]
The man with a plan for your retirement May 5, 2014 The former Barclays banker turned insurance group chief executive thinks he’s found a new direction for LV= WHEN Mike Rogers first heard about chancellor George Osborne’s plans to scrap compulsory annuities, the LV= chief executive was on a train back to London. “I’d been to Bristol for lunch with some of the top performers from [...]
What the other papers say this morning – 02 May 2014 May 1, 2014 FINANCIAL TIMES Ebay settles DoJ ‘no poach’ probe Ebay is the latest Silicon Valley company to settle with US authorities over allegations it struck illegal agreements with rivals to not hire their employees. The ecommerce company will pay California $3.75m, some of which will go to compensating employees affected by a so-called “no poach” agreement [...]