As Sainsbury’s makes a surprise upgrade to its profit forecast, could this be comeback season for supermarkets? September 30, 2015 Clive Black, director and head of research at Shore Capital, says Yes To say that the British supermarket scene has been through the “perfect storm” is to understate the size of the waves. Sales fell, margins collapsed, earnings imploded and dividends were cut. The surprise Sainsbury’s upgrade in market expectations is a welcome boost to [...]
City Moves for 29 September 2015 | Who’s switching jobs September 28, 2015 DEARMAN The technology company has hired Joanne Spick as its new chief financial officer (CFO). She was previously CFO and acting chief executive of the Dylan Group, the specialist steel products firm. She has worked for blue chip companies across the UK and Europe, including ICI, Menzies Aviation and GdF Suez. ARBUTHNOT LATHAM The private [...]
The future of the FTSE 100: What next? The quarterly reshuffle has changed the complexion of the leading index September 23, 2015 The Bloodbath continued yesterday as mining shares plummeted further and the FTSE dipped below 6,000 points. Glencore, whose shares fell by 10.63 per cent yesterday, only graduated to the elite index in 2011, but the commodities supercycle has come to a juddering halt, depressing the internationally exposed FTSE. This week also saw one [...]
RSA Insurance Group’s share price plunges as Zurich tells RSA: It’s not you, it’s us September 22, 2015 RSA Insurance Group’s share price plunged yesterday after rival firm Zurich revealed it was walking away from a £5.6bn takeover bid. RSA’s share price closed down 20.84 per cent as investors digested the shock news. Zurich’s share price was also down, albeit a less remarkable 2.79 per cent. Zurich said it was abandoning [...]
Small business owners feel benefits of growing economy September 21, 2015 Two thirds of small business owners are confident about the opportunities for business growth over the next five years. A survey by insurers Axa shows that 62 per cent of SME owners say they are thriving as a result of owning their own business. Glen Parkinson, SME business director at Axa PPP healthcare, said: “It’s [...]
Gotta be in it to wine it: 26 miles, 20 wine tastings, 1 Medoc Marathon September 21, 2015 A burly man is trying to force me to eat an oyster. Beside me, a group of fancy dress Caesars are jostling with a herd of pantomime Norwegian cows (they have udders on their heads, for some reason). They are all drinking glasses of Sauvignon Blanc. I’ve just run 24 miles, I still have another [...]
Fintech is booming – but where are the insurance tech startups? September 17, 2015 As a technology investor, I spend my days scouring Europe in search of the next big thing. London’s fintech scene has been a profitable hunting ground of late. With the UK fintech industry generating $20bn in revenue annually, it is not surprising that $5.4bn has been invested in British fintech companies since 2010. [...]
Fed rate hike: As global markets hold their breath, should the Federal Reserve raise interest rates today? September 16, 2015 Shaun Port, chief investment officer at Nutmeg, says Yes After sending less than subtle messages to financial markets for more than two years that the days of always easy money are coming to an end, it is now time for the Federal Reserve to take the first step and raise rates. A small increase – [...]
City Moves for 14 September 2015 | Who’s switching jobs September 13, 2015 IMPAX ASSET MANAGEMENT The specialist investment manager has appointed David Winborne as senior portfolio manager. He was previously a member of the in-house asset management team at Tesco Pension Investment. Winborne has also previously worked at Sarasin & Partners and Insight Investment Management. AVIVA INVESTORS John Osborn has been appointed real estate fund manager at [...]
Where to invest following stock market carnage: Europe and China top the experts’ buy lists September 9, 2015 Global stock markets took a battering this summer. At one point, nearly $2 trillion had been wiped off the value of shares across markets as diverse as Germany, China, the US and Argentina. The falls were trigged by worries over the state of China’s economy. Although Chinese companies make up only a small part [...]