The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
Russian retail giant Lenta set for London float February 3, 2014 RUSSIA’S second biggest hypermarket chain Lenta has become the latest retailer to take part in this year’s IPO revival after announcing plans to float on the London Stock Exchange as early as next month. Lenta, which has 77 hypermarkets and 10 supermarkets in 45 cities across Russia, is aiming to raise finance as it looks [...]
Administration rescued fewer stores in 2013 as retail struggles February 3, 2014 THE NUMBER of stores surviving when major retailers fall into administration dropped significantly this year, despite interest rates being held at historically low levels. According to restructuring and insolvency firm FRP Advisory, the proportion of shops staying open when big retail chains go into administration has dropped, from 50 per cent in 2012 to only [...]
City Moves for 4 February 2014 | Who’s switching jobs February 3, 2014 Baker & McKenzie The law firm has announced the appointment of Julian Thurston as a consultant in its global pharmaceutical and healthcare industry group. He was most recently at Morrison & Foerster, where he was a consultant and partner specialising in commercial life sciences transactions. Deutsche Asset & Wealth Management Barbara Rupf Bee has joined DeAWM as head of [...]
Every awful emerging market acronym in 1 chart February 3, 2014 Inspired by this chart from the TUC’s Duncan Weldon, we’ve stuck together just 10 of the many popular emerging market acronyms in a single diagram. Hopefully you can now make sense of what often seem to be quite arbitrary categorisations. We think you’ll agree that it all looks quite messy, and the takeaway seems to [...]
Every awful emerging market acronym in 1 chart February 3, 2014 Inspired by this chart from the TUC's Duncan Weldon, we've stuck together just 10 of the many popular emerging market acronyms in a single diagram. Hopefully you can now make sense of what often seem to be quite arbitrary categorisations. We think you'll agree that it all looks quite messy, and the takeaway seems to [...]
Here’s how Goldman is gambling on Russian fitness February 3, 2014 Gym investment is seeing Goldman Sachs raise the bar when it comes to deals it makes in Russia. The bank has upped its investment in an upmarket chain of fitness clubs, World Class, which was founded by a Russian former fencer, reports Reuters. It’s Special Situations Group (SSG) has been bagging modest deals in the [...]
Wall St The Week Ahead: Investors shy of firms with Bric exposure February 2, 2014 INVESTORS may crave a quiet market this coming week to digest the recent volatility in stocks and rehash yesterday’s Super Bowl, but the prospect doesn’t look likely. The catalysts that drove the Dow and the S&P 500 to their worst monthly performances since May 2012 have not gone away. The retreat from emerging markets – [...]
Bottom Line: Stick to spirits and ditch the beer hangover January 30, 2014 BARELY a year into Chinese President Xi Jinping’s push to crack down on bribery and corruption, and the effects are already being felt round the world. Earlier this month the country’s government hailed a 13.3 per cent increase in the number of people punished under the new regime last year, but Diageo’s Chinese woes imply [...]
London Report: Diageo’s woes help drag FTSE 100 lower again January 30, 2014 BRITISH blue-chip shares fell for the seventh time in eight days yesterday, led lower by Diageo after the company said weakness in emerging markets was hurting its sales. The FTSE 100 index was down 0.1 per cent, or 5.83 points, at 6,538.45 by the close, nearing its lowest since mid-December. It has suffered in recent [...]