How the FTSE 100 is being undermined by the strong pound April 24, 2014 The mood music for the British economy has been sounding all the right notes this year. But one section of the business community are not tapping their feet – stocks listed on the UK’s top share index the FTSE 100. According to a new note from investment bank Deutsche Bank, business analyst have revised down [...]
What you need to know before the open April 23, 2014 US markets saw another positive finish yesterday, with European counterparts expected higher today, looking to French and German manufacturing data. Economists will be looking to see if the turnaround seen in France in March continued, and Germany’s expected to see a slight improvement, too. China’s HSBC manufacturing purchasing managers’ index improved to 48.3 – encouraging, [...]
City Moves for 23 April 2014 | Who’s switching jobs April 22, 2014 HSBC Private Bank Oliver Gregson has been appointed head of private bank investment group, UK and Channel Islands, at HSBC Private Bank. He joins from Barclays Wealth, where he was head of discretionary portfolio management. Gregson has also held roles at UBS and Citi Private Bank. State Street Global Advisors The asset management firm has [...]
City Moves for 22 April 2014 | Who’s switching jobs April 21, 2014 DWF The law firm has appointed Stephen Miles as chief executive of its commercial services division. He joins from Pinsent Masons, where he was head of financial institutions and human capital, and a member of its leadership team. Miles is a transactional banking lawyer, and has acted for the national acquisition and leveraged finance teams [...]
Best of the Brokers for 22 April 2014 April 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO HSBC cuts its forecasts on the supermarket by 11 per cent for this year as UK like-for-like sales and margins appear to be sliding further, and has advised Tesco to consider withdrawing from parts of Europe. The broker keeps its “underweight” rating [...]
City Moves for 17 April 2014 | Who’s switching jobs April 16, 2014 KPMG David Brown has been appointed a non-life actuarial partner in KPMG’s insurance practice. With almost 20 years’ actuarial experience, he joins from Direct Line Group, and will advise clients in the retail general insurance sector. Brown is also a fellow of the Institute and Faculty of Actuaries. BNP Paribas Investment Partners Cynthia Sweeney Barnes [...]
Diageo makes £1.1bn play for United Spirits April 15, 2014 DRINKS giant Diageo has launched a $1.9bn (£1.13bn) bid to nearly double its stake in India’s largest spirits firm United Spirits. The bid, if successful, would give Diageo a controlling stake in United and better position the firm to take advantage of India’s increasingly wealthy consumers. FTSE 100 component Diageo currently holds a 28.8 per [...]
UK most sceptical of paying for education April 15, 2014 BRITISH parents are among the least likely to say that paying for a child’s education is a good investment, according to a report released this morning. HSBC research into priorities for education in 15 countries reveals that only 35 per cent of parents in the UK say that paying for schooling is the best investment [...]
Where to put your money to see real returns on cash April 15, 2014 Current accounts offer eye-catching rates, but remember the tax advantages of Isas WITH inflation dipping to 1.6 per cent on the consumer price index in March, and competition starting to hot up among retail banks, many current accounts are now offering the chance to earn decent real returns on cash. As many as 10 new [...]
City Moves for 15 April 2014 | Who’s switching jobs April 14, 2014 Mount Anvil The property developer has appointed Jon Hall as sales and marketing director. He joins from Berkeley Homes, where he has been a sales and marketing director since 2011. Hall has also held roles at St Modwen Properties. PwC Ian Oakley-Smith has been appointed head of PwC’s charity sector team in the UK. He [...]