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 [...]
Ericsson results miss expectations as North America fails to deliver January 30, 2014 Swedish communications giant Ericsson has performed below analysts expectations posting a fall in sales and fourth quarter operating profit. Sales in networks also declined by one per cent in the quarter from the same period a year earlier. Sales at Ericsson were 67bn krona (£6.2bn) against a forecast of 69.3bn krona. Ericsson's earnings before interest [...]
Amur Minerals set to benefit from new Russian tax breaks January 29, 2014 AMUR Minerals, the Russian nickel and copper explorer, yesterday said that newly implemented tax breaks would boost its revenues by $100m (£60.4m). The Russian government reduced the mineral resources extraction tax and the profits tax from the start of January, which Aim-listed Amur Minerals said has benefitted their Kun-Manie mine in the south of Russia. [...]
South Africa’s is the third big central bank to hike rates this week. Here’s why January 29, 2014 South African Reserve Bank chief Gill Marcus has given investors a bit of a shock. After Turkey and India saw rate hikes yesterday, South Africa's policymakers have made a similar call. They've hiked their repo rate by 0.5 percentage points to 5.5 per cent. Markets suspected a hike when Marcus announced big upward revisions to [...]