The Bank of England’s October minutes and interest rate decision: What economists will be watching October 7, 2015 With the minutes from the Bank of England's October meeting expected to be somewhat uneventful, economists are preparing to drill into the detail for clues as to when it will start raising interest rates. Tomorrow's meeting is the one before so-called "Super Thursday", which will see the release of the Bank's interest rate decision, minutes and [...]
City Moves for 26 June 2015 | Who’s switching jobs June 25, 2015 Baker Tilly The professional services firm has appointed Kenny McLean as a director in its consulting practice. He joins from Certeco, where he was a director overseeing client change programmes. McLean has also held roles at KPMG, IBM, SAP and EDS. CBRE The commercial real estate services and investment firm has announced two appointments to [...]
City Moves for 25 August 2015 | Who’s switching jobs August 24, 2015 Countrywide The property services firm has announced the appointment of Johnny Morris as its first research director. He joins from Hamptons International, part of the Countrywide Group, where he has been head of research since 2013. Mirabaud Asset Management The asset management firm has appointed Ken Nicholson to manage European small cap and mid cap [...]
City Moves for 2 June 2015 | Who’s switching jobs June 1, 2015 DTZ The commercial real estate services provider has announced three appointments to its data centres team. Mark Trevor joins as senior director, Begoña Cerdan joins as a director, and Michael Hunter joins as an associate director in its London office. Lloyds Bank Andrew Charnley has been appointed regional head of the trade and working capital [...]
Moody’s sounds alarm over rising UK credit card debt leaving consumers unprepared for interest rate rises July 16, 2015 Credit ratings agency Moody's has sounded the alarm over the rising level of UK consumer debt saying it leaves borrowers increasingly vulnerable to economic shocks. The new report on the risk of rising consumer debt in the UK, found unsecured lending such as credit cards and personal loans jumped to nearly seven per cent year-on-year [...]
Central bankers scent interest rate hikes: Federal Reserve prepares for rise with UK expected to follow later July 15, 2015 An unprecedented era of easy money, seen on both sides of the Atlantic since 2008, could be over by the end of the year, with the Federal Reserve preparing to hike rates and some analysts expecting the UK to follow suit in subsequent months. “If the economy evolves as we expect, economic conditions likely [...]
Chinese firm in bid for Pirelli as it seeks the fast lane to tyre tech March 23, 2015 SHARES in Italian tyre manufacturer Pirelli ticked up yesterday after the China National Chemical Corporation (CNCC) made further progress towards acquiring the firm. CNCC struck an agreement with the company’s controlling shareholders on Sunday which took it closer to a €7bn (£5bn) takeover. Any takeover would likely result in Pirelli delisting from the Milan stock [...]
Best of the Brokers for 13 February 2015 February 12, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com UNICREDIT S&P Capital lowered its “buy” rating to “hold” for the banking and financial services firm. Net income of €170m in the fourth quarter of 2014 was below consensus of €229m. Revenue of €5.6bn (minus 3.4 per cent year-on-year) fell one per cent [...]
City Moves for 24 March 2015 | Who’s switching jobs March 23, 2015 Baker Tilly The accountancy and business advisory firm has appointed Steve Hopkins as a consultant in its restructuring and recovery practice. He was previously head of corporate insolvency at Barclays Bank, and has over 20 years’ experience in restructuring and insolvency. LCH.Clearnet Frank Soussan has been appointed global head of CDSClear at the clearing house. [...]
Italian banks bounce back after enormous bad loan writedowns November 11, 2014 UNICREDIT and Intesa Sanpaolo yesterday reported unexpectedly strong profits for the third quarter, in part as a result of major steps to clean up their balance sheets earlier this year. Intesa took impairments of €5.8bn (£4.5bn) in the first quarter of the year, and Unicredit wrote down €13.7bn for 2013. As a result, the banks [...]