What you need to know before the open May 29, 2014 European markets are expected up this morning, with the focus on the latest first quarter GDP number from the US. Bond prices continued to rise yesterday – in peripheral as well as UK and German ones – with the market still firmly decoupled from equities. Data-wise, things are quiet in Europe, with the significant numbers [...]
Espirito Santo hit by parents’ debt troubles July 10, 2014 TRADING on Banco Espirito Santo’s shares was suspended yesterday after its stock dived 17.89 per cent. The shares were previously suspended on 20 June, after another precipitous fall. After a series of sharp drops its price now stands at €0.514, down 53 per cent in just one month. The collapse in its stock represents a [...]
Britcoin vs Scotcoin: The UK cryptocurrency battle August 7, 2014 In the aftermath of George Osborne's announcement that the Treasury will investigate what role digital currencies can play in the UK financial system and the heated debate between Alex Salmond and Allister Darling on Scottish independence, could there be a better time to examine the fortunes of two competing UK cryptocurrencies? In the red corner, [...]
Farnborough International Airshow sales go on but F-35 is barred from flying July 16, 2014 The second day of the Farnborough International Airshow saw further multi-billion sales. But there was bad news as the Pentagon ruled out flying over the F-35 to the show. Airbus continued to pull in deals, as Dublin-based SMBC Aviation Capital ordered 115 A320 planes, worth about $11.8bn (£6.9bn), and BOC aviation, the Singapore based leasing [...]
Holland look poor value to progress June 10, 2014 I’M NOT in the camp that believes Spain are finished as a world force. There were signs in the Confederations Cup that they were faltering, but a team that hasn’t conceded a goal in a knock-out game since 2006 shouldn’t be dismissed lightly. They’ll have to overcome the old stat that no European side has [...]
Here’s what brokers and traders were saying to each other as they manipulated Libor rates in 2008/9 May 15, 2014 The Financial Conduct Authority’s (FCA) just announced that it’s fined interdealer Martin Brokers £630,000 for “significant” failings in relation to Libor. Between January 2007 and December 2010, Martins colluded with a trader at UBS to manipulate the Japanese yen Libor for his own benefit. Over the period, at least 600 requests were made to Martins [...]
Vending machine group Selecta orders bond deal June 23, 2014 Europe’s largest vending machine operator Selecta has swapped €770m (£615m) of debt to a lower lending rate in a bid to lessen the financial woes of the struggling business. The firm, which runs vending machines across the UK, has sold €550m of high yield bonds to a variety of unnamed institutions, it confirmed yesterday. A [...]
Managing up: Three ways to handle the boss July 19, 2015 Bootlicking will alienate your colleagues and affect output It is a common misconception that managing upwards is just about manipulating your superior for your personal gain. In reality, the relationship between a boss and their subordinates is one of symbiosis; senior managers rely as much on their front-line staff to know which executive decisions [...]
Harvester owner plots Orchids deal May 11, 2014 MIDLANDS brewery Mitchells & Butlers is leading a pack of buyers hoping to acquire UK pub firm Orchid Group. M&B, which owns the Harvester pub chain, is looking at acquiring the group’s food business, while other bidders are hoping to buy the whole group from seller Deutsche Bank. First round bidding is due to close [...]
City A.M. reader selfies good enough to eat April 7, 2014 EVERYONE loves a selfie and City A.M. readers are no different. These three are the lucky winners of our competition with Eat, each winning a week of free breakfasts. You can have a go too – turn to the back of the paper now and send us a selfie using #mademymorning for a chance to [...]