Best of the Brokers for 24 July 2014 July 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com B&M RETAIL Jefferies has initiated with a “buy” rating, with the target price at 350p. The broker believes the retailer has an excellent track record, with clear scope to grow stores, particularly in the south of England, and thinks that B&M is likely [...]
The AA to raise £935m for debt repayment plan March 25, 2015 The AA announced plans to raise £935m yesterday in a bid to pay off debts and reduce interest payments at the motoring organisation. The 110-year-old company plans to raise £200m in equity through a placing and a further £735m in a bond issue. The restructuring will involve the refinancing of £655m class B notes and [...]
Lancaster recalls Lawes and Brown for Calcutta Cup bash March 11, 2015 ENGLAND head coach Stuart Lancaster believes his side will benefit from an injection of know-how when they bid to resurrect their Six Nations title hopes against Scotland at Twickenham on Saturday. Second row Courtney Lawes has been recalled to the starting XV in place of George Kruis after recovering from an ankle problem and is [...]
Mobile World Congress 2015: Samsung UK exec Andy Griffiths sees confidence up March 2, 2015 Britain’s consumers poured cash into TVs, smartphones and household appliances over Christmas and into 2015, says Samsung’s UK and Ireland president, who said the spending was a barometer of the wider UK economy. “We’re really seeing the health of the UK economy coming through,” explained Andy Griffiths, speaking to City A.M. at Mobile World Congress [...]
Poundland eyes extension over 99p Stores deal probe April 14, 2015 Poundland is expected to ask for an extension tomorrow over its decision on whether to walk away from its £55m tie-up with 99p Stores or proceed with a full-scale probe by the competition watchdog. The Competition and Markets Authority (CMA) said last week that it had concerns over 92 areas where it believes there could [...]
Kingfisher bid for rival Mr Bricolage has suffered a setback March 24, 2015 Europe's biggest home improvement retailer Kingfisher suffered a setback to its bid for rival Mr Bricolage. The B&Q owner, which makes about half of its annual profit in France, said the board of Mr Bricolage and franchisee group ANPF, a major shareholder of the company, have reservations about the takeover deal and are yet to receive clarification [...]
Car review: The Mini John Cooper Works is a new classic of the hot hatch genre June 8, 2015 The daddy of all hot hatchbacks is the Volkswagen Golf GTI. Introduced in 1976, Volkswagen shoehorned a 1.6-litre engine into its popular family hatch and boasted of its 110mph top speed. It’s a shame, then, that today the Volkswagen Golf GTI is such a lardy number. Sure, it’s fast – and you can buy [...]
Virgin Money IPO: Retail investors denied place in yet another float October 2, 2014 Virgin Money defended its choice to sell its shares exclusively to institutional investors – as revealed yesterday in City A. M. – arguing it made for a smoother flotation. Small investors have missed the chance to invest in the majority of IPOs over the past year – the last very large float with a [...]
Euro 2016 betting: England can get the win they need to top Group B June 19, 2016 At half-time against Wales Roy Hodgson must have been wondering if the man upstairs had something against him. England completely dominated their opening fixture against Russia yet succumbed to a 92nd minute equaliser by Vasili Berezutski. And then Gareth Bale’s free-kick just before the interval crept past Joe Hart to leave the Three Lions in serious [...]
BT and Williams Martini Racing close to inking tech partnership April 21, 2015 LUIS Alvarez, the boss of BT Global Service, was revving up for the telecoms giant’s new partnership with the Williams Martini Racing Formula One team yesterday. The pair worked together on a pilot scheme last season and now plan to collaborate in the spheres of communications expertise, technology and consulting services. The benefits of the [...]