London Report: Retail gloom and US gridlock weigh on FTSE October 8, 2013 THE UK’S top share index slipped to three-month lows yesterday as weak data and downbeat analyst comments hit retailers and the fiscal deadlock in the United States kept broader sentiment subdued. In contrast to buoyant recent British data, retail sales growth slowed for a second month in September, according to BRC numbers. Analyst notes on [...]
What the other papers say this morning – 08 October 2013 October 7, 2013 FINANCIAL TIMES Hedge fund DE Shaw limits investors One of the most profitable hedge funds has closed its doors to new clients, calling time on the industry’s ability to square vast inflows of money with the promise of market-beating returns. DE Shaw’s move means that of the largest six, only Man Group and Och-Ziff, are [...]
Burberry shares slide after chief warns on China October 7, 2013 SHARES in Burberry plunged yesterday after the brand’s chief executive stressed that the slowdown in China could be more than a passing phase for the luxury sector. The Chinese economy’s growth this year looks set to meet the government’s 7.5 per cent target. However, that would still represent the slowest pace of expansion in 23 [...]
Bottom Line: Retailers shouldn’t rely on Asia October 7, 2013 BURBERRY may have been quick to say that Angela Ahrendts’ comments had been taken out of context yesterday, but there’s no doubt that a Chinese slowdown – past, present or future – is weighing heavily on retailers and investors’ minds. Ever since the financial crisis tightened the purse strings of luxury brands’ traditional client base [...]
What the other papers say this morning – 7 October 2013 October 7, 2013 FINANCIAL TIMES Temasek bids for Repsol gas stake Temasek and Sinopec have both approached Repsol over buying its €4.7bn stake in Gas Natural as the Spanish oil company seeks to raise cash to increase its investment in oil exploration. Repsol, which is working with Deutsche Bank and Citigroup to find a buyer for the domestic [...]
The veteran who is back doing deals | City A.M. October 7, 2013 Mike Slade speaks to Kasmira Jefford as he nears 30 years at the helm of property company Helical Bar MY INTERVIEWEE is twenty minutes late when he arrives for our meeting at Helical Bar’s headquarters, tucked away in a quiet street off Mayfair’s Berkeley square. Mike Slade, a tall 67-year-old sweeps in, all apologies (“Darling, [...]
Consumer firms to spark next flotation frenzy October 6, 2013 BRITISH department store House of Fraser is on the cusp of appointing advisers to explore plans for a float of the chain, amid a resurgence in consumer–focused brands looking to list in London. The chain is thought to have held a beauty parade of investment banks, laying plans for a £300m float after the Christmas [...]
The veteran who is back doing deals October 6, 2013 Mike Slade speaks to Kasmira Jefford as he nears 30 years at the helm of property company Helical Bar MY INTERVIEWEE is twenty minutes late when he arrives for our meeting at Helical Bar’s headquarters, tucked away in a quiet street off Mayfair’s Berkeley square. Mike Slade, a tall 67-year-old sweeps in, all apologies (“Darling, [...]
City Matters: Stable and predictable regulation is key to safeguarding the future of finance October 6, 2013 PARTY conference season has typically been a testing period for the City of London – and in particular for the banking industry – over the last few years. Thankfully, however, this year saw the focus shift at least partially away from bankers, as the spotlight turned towards other sectors that are currently public (and political) [...]
City Moves for 4 October 2013 | Who’s switching jobs October 3, 2013 Colliers International The property company has announced the appointment of Richard Eales as head of finance in the UK and Ireland. Eales was most recently at Hamptons International, where he was head of commercial finance for 11 years. He is a qualified accountant. Renaissance Capital Benjamin Samuels has been appointed global head of equities at the [...]