Bank of Cyprus weighing float May 29, 2014 THE FORMER boss of Royal Bank of Scotland’s investment banking arm, John Hourican, is reported to be considering a London float for the Bank of Cyprus Group, of which he is chief executive. The float, if it goes ahead, is unlikely to happen for at least 12 months, according to Sky News reports. In March [...]
London Report: FTSE closes near record high on takeover talk May 29, 2014 BRITAIN’S top share index advanced to trade near a 14-year high yesterday, with takeover speculation surrounding companies such as Smith & Nephew and Weir Group lifting investors’ appetite for riskier assets. The FTSE 100 index finished 0.3 percent higher at 6,871.29 points, outperforming slightly lower benchmark indexes in France, Germany, Italy and Spain. Trading volumes [...]
The numbers that prove Nationwide is beating three of the big four banks May 28, 2014 As the name suggests, Britain’s Big Four banks are usually considered the biggest lenders in the country. But the country’s biggest building society, Nationwide, today released numbers showing it is firmly the second-biggest mortgage lender in the county. On top of that, it's growing far faster than RBS, Barclays and HSBC, pulling further [...]
Don’t worry – despite the name shame, Salesforce Tower’s in pretty good company May 27, 2014 Hardly a day goes by when one of London’s newest skyscrapers isn’t making headlines and this week it’s the artist formerly known as Heron Tower. Last week it emerged that the building, on the City’s Bishopsgate, had signed a deal welcoming a new (and largest) tenant, American CRM giant, Salesforce. As part of the [...]
Chinese factory decline slows May 22, 2014 CHINA’S powerful industrial base slowed only slightly this month, according to HSBC’s index of the country’s manufacturers – which revealed the best performance since September. The purchasing managers’ index (PMI) reading for Chinese factories rose to 49.7 yesterday, very narrowly below the neutral 50 mark, indicating a slight contraction for the fifth month. Analysts had [...]
City Moves for 23 May 2014 | Who’s switching jobs May 22, 2014 Addleshaw Goddard The law firm has announced the election of John Joyce as a managing partner. He specialises in corporate restructuring. Joyce has been a partner since 1998, and was most recently head of business support and restructuring. Euler Hermes Bonding The surety bond provider has appointed Adam Hinc as a senior underwriter in its [...]
Janet Yellen won’t be pleased with this month’s US home sales May 22, 2014 Data from the National Association of Realtors shows existing home sales up from 4.59m to 4.65m in April, with the change in existing home sales up by 1.3 per cent. Analysts at Investec said in a preview that these figures "are likely to take on additional significance this week following Janet Yellen’s comments regarding housing [...]
Mothercare share price jumps as profits beat expectations May 22, 2014 Shares in baby goods retailer Mothercare have surged by 15 per cent after the company reported earnings above expectations. Mothercare's lenders, HSBC and Barclays, also agreed to enlarge the company's debt facility to £100m – an increase of £10m. Profit before tax jumped 61 per cent to £9.5m for the year ended 29 March. 35 [...]
City Moves for 22 May 2014 | Who’s switching jobs May 21, 2014 Marsh The insurance company has appointed David Bramall as head of placement in its national corporate practice. He joined in 2008 as a casualty broker from Willis, where he was also a casualty broker. Lloyds Bank The bank has announced the appointment of Nigel Brady as a director for sterling financials trading in its commercial [...]
How embracing globalisation and the flexible working phenomenon can boost SME business growth May 21, 2014 IN TODAY’S globalised world, businesses of all shapes and sizes need to maximise the potential of communicating and trading internationally. According to a recent HSBC forecast, trade conditions are improving for UK businesses, with 63 per cent of exporters expecting trade volumes to rise over the next six months. And with the rapid pace of [...]