Tech overtakes finance among top global companies July 4, 2016 Technology has stolen a march on finance, with the success of companies such as Alphabet and Microsoft helping the innovative sector surpass the traditional world of financial services among the world's top 100 companies over the past year. Technology firms in the list notched up a combined value of $3bn compared to financial firms' $2.7bn and the $2.6bn [...]
Auditors as you’ve never seen them before: EY’s UK financial services leader Omar Ali explains how the big four firm is shaking up the accountancy world November 30, 2015 Shoreditch: it’s home of hip art galleries, a vibrant nightlife and, following its acquisition of digital design consultancy Seren this summer, some of EY’s most cutting-edge offerings. “We spent a lot of time working out what we wanted to do in digital,” explains Omar Ali, when he meets with City A.M. in the Hackney offices. [...]
FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
Return of the dividend: Growth might be muted in the UK, but foreign firms are paying out December 2, 2015 The UK has a very good track record when it comes to companies paying dividends. Businesses understand the importance of looking after shareholders, who in turn understand the value of either reinvesting those dividends (which account for two-thirds of total returns over the very long term) or using them to supplement an income. So it’s [...]
Miners come up gold for FTSE 100 as London rallies – London Report September 10, 2015 Asian market gains helped the FTSE to rally yesterday for a third straight session – also boosted by encouraging corporate news from mining companies and financial firms. The FTSE 100 index was up 1.4 per cent at 6,229.01 points at its close, still around 12.6 per cent off April’s record high, after uncertainty over China’s [...]
Rio Tinto lowers 2017 iron ore guidance due to delay of its driverless train system AutoHaul April 19, 2016 Rio Tinto has cut its 2017 production guidance but posted year-on-year gains. The figures Global iron ore production for the first quarter of the year were reported at 84m tonnes, up 13 per cent from last year. However, the figure for first quarter iron ore production represents a four per cent fall compared to the last [...]
EU data boost FTSE amid hope for China upturn – London Report September 9, 2015 The UK’S top share index rallied yesterday, extending its gains from the previous session with a boost from better-than-expected Eurozone second quarter GDP data and hope for further market stimulus on Chinese markets. The FTSE 100 was up 1.2 per cent at 6,146.10 points at the close, lagging blue-chip German stocks. The European Union’s statistics [...]
Aerospace firm Cobham’s shares take off despite 92pc profit drop August 7, 2015 BRITISH aerospace and defence firm Cobham yesterday reported a 92 per cent reduction in pre-tax profit in the first half of the year, despite improved orders and revenue during the period. Profit before tax fell to £4m from £54m in the first six months of 2014. The group said the acquisition of US wireless communications [...]
FTSE buoyant as China reassures global investors – London Report August 26, 2015 AFTER China cut interest rates to calm markets, Britain’s top share index posted its biggest one-day rise since 2011 yesterday, following turbulence that has rocked equities globally. The FTSE 100 rebounded, rising 182.47 points, or 3.1 per cent, to 6,081.34 points by the close after dropping to its lowest level since 2012 in the previous [...]
Peel Hunt initiates coverage of UK challenger banks and specialist lenders, forecasting Aldermore, OneSavings Bank and Shawbrook will deliver average return on equity of 21 per cent February 29, 2016 Analysts at the stockbroker Peel Hunt initiated coverage of three of Britain's challenger banks today, naming Shawbrook their "top pick" among smaller lenders. In a note out this morning, analysts Anthony Da Costa and Stuart Duncan said that after a "period of significant share price weakness", there is "currently an opportunity to acquire high-quality/high return specialist lending businesses at [...]