What you need to know before the open April 30, 2014 A slightly lower open is expected in Europe this morning, as earnings results continue to come in and investors look to economic data from both sides of the Atlantic. Growth data from the US could well show a weaker number after the freezing winter, and after that we’ve for the Federal Reserve’s rate decision. A [...]
What the other papers say this morning – 30 April 2014 April 29, 2014 FINANCIAL TIMES Borrowers driven to shadow banks A US regulatory crackdown on the $600bn leveraged loan market is driving borrowers to alternative lenders known as “shadow banks”, according to market participants. Bankers said the Federal Reserve and Office of the Comptroller of the Currency had stepped up their policing of the market, which provides financing [...]
Saga ready for £3bn flotation April 29, 2014 INSURER Saga is expected to unveil its plans to list on the London stock market as soon as this morning, with the firm due to join the market’s insurance sector rather than the leisure portion of the exchange. Concerns had been raised it would seek to be classified as a leisure business to get a [...]
Shoe Zone putting its best foot forward with a £50m stock float April 28, 2014 DISCOUNT footwear chain Shoe Zone has become the latest retailer queuing up to float on the London Stock Exchange this year. The family-run chain, which runs 554 stores in the UK and Ireland, is looking to raise up to £50m in an initial public offering (IPO) on London’s Alternative Investment Market next month that is [...]
One in four people don’t really care about the abolition of stamp duty on Aim shares April 28, 2014 From today investors who buy shares in junior stock market listed companies – the hundreds listed on London’s alternative investment market (Aim)– who will not have to pay the 0.5 per cent stamp duty or stamp duty reserve tax on the shares, making them cheaper to buy and own. The move was introduced by chancellor [...]
Asian markets tumble as Russia sanctions loom April 28, 2014 Asian markets are in retreat after a lacklustre performance on Wall Street and western nations prepare to impose further on sanctions on Russia in wake of heightened tensions in Ukraine. Representatives from all 28 EU member states will meet today to impose travel restrictions and asset freezes on a further 15 influential Russians, according to [...]
What the other papers say this morning – 28 April 2014 April 28, 2014 FINANCIAL TIMES Pfizer renews interest in AstraZeneca Pfizer, the US pharmaceuticals group, has renewed its interest in a takeover of UK rival AstraZeneca, in what would be one of the global drugs industry’s largest ever deals. The US group approached AstraZeneca, which has a market value of £51.5bn, within the last week and could make [...]
Gimme 5 April 27, 2014 …EY ENTREPRENEUR OF THE YEAR LONDON AND THE SOUTH FINALISTS Aldermore The private equity-backed UK bank provides retail and SME savings accounts, commercial and residential mortgages, and asset and invoice finance. Founded by Phillip Monks, it has operated in the UK since 2009. aldermore.co.uk Cote Restaurants Operator of 47 casual dining restaurants across the UK, [...]
Sydney, Australia: the global cultural capital of the future April 27, 2014 Forget the stereotype, Australians can do hipster as well WHAT’S the difference between Australia and a petri dish? If you leave a petri dish for long enough it will eventually develop a culture… Or so the joke used to go. But anyone who’s visited Sydney recently would struggle to justify that view. Australia’s economy has [...]
Higher demand for Euro stocks helps Henderson lure £3bn more April 24, 2014 IMPROVING stock market conditions in Europe helped fund manager Henderson Group attract an extra £3bn last quarter, as retail investors rushed to buy funds focused on continential Europe. FTSE 250 listed Henderson, led by 42-year-old Australian chief executive Andrew Formica, said assets under management rose to £79.2bn at the end of March from £75.2bn three [...]