New issues make a strong comeback in the London market December 18, 2013 As the year comes to an end there’s definitely cause for celebration in London’s new issues or Initial Public Offering (IPO) market. According to figures out today from EY, the advisory firm, there were 14 main market share listings this year, raising £5.2bn. That’s not exactly an avalanche of deals but the total represents a [...]
Unanimous approval on French “anti-Amazon” bill October 3, 2013 A unanimous decision has been taken by French lawmakers to approve a bill designed to safeguard small bookstores against powerful online competitors. The bill will restrict retailers like Amazon from combining offers of up to five per cent discounts with free deliveries. It was was proposed by the opposition party UMP, but had all-round support, [...]
All taxpayers should have a chance to benefit from the Lloyds privatisation September 17, 2013 THE SUCCESSFUL sale of 6 per cent of Lloyds to institutional shareholders was a crucial first step in returning the bank to full private ownership. That the government has been able to obtain a price above the initial purchase price – and well above the price in the national accounts – is particularly positive. Indeed, [...]
The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
JP Morgan in talks to settle probes for $11bn September 25, 2013 JP MORGAN Chase is in talks with US officials to settle federal and state mortgage probes for $11bn (£6.8bn), two people familiar with the matter said yesterday. The sum could include $7bn in cash and $4bn for consumers, said the sources, who asked not to be identified because the negotiations are private. The talks are [...]
Zoopla buys property sites September 4, 2013 ZOOPLA property group yesterday said it has snapped up four property websites from newspaper group Trinity Mirror in a £3.3m deal. The company said the sale, which includes a new homes-focused site SmartNewHomes.co.uk, will help it to take advantage of the rising housing market thanks to Help to Buy and improving mortgage availability. The other [...]
Culture and shopping in Shanghai and Hong Kong November 10, 2013 When Michelle Filmer went to China, she split her time between its two most vibrant cities. From luxury to history, she selects the top ten highlights of her visit 1. THE BUND The waterfront area in central Shanghai that runs along the west bank of the Huangpu river is known as The Bund. The west [...]
Retail sales flat as Boles backs high street flats August 4, 2013 HIGH street sales fell flat in July but showed signs of recovery in the final week as consumers took a break from watching sport and headed back to the shops, figures out today show. Like-for-like fashion sales were down 1.1 per cent in July compared to the same month last year, according to accountancy firm [...]
What the other papers say this morning – 1 October 2013 September 30, 2013 FINANCIAL TIMES Weidmann in sovereign debt warning Jens Weidmann, president of the Bundesbank, has risked angering Europe’s crisis-hit governments by warning of the dangers posed by high levels of sovereign debt on banks’ balance sheets. He wrote: “The time is ripe to address the regulatory treatment of sovereign exposures.” US asset managers face extra scrutiny [...]
Better weather means B&Q owner sees profit up in second quarter September 11, 2013 Retail group Kingfisher, who own companies including B&Q and Screwfix, have seen a statory pre-tax profit increase of 10.2 per cent in the 26 weeks up to 3 August (up £401m from £364m for the same period last year) (Release). CEO Ian Cheshire puts the increase down to better weather, commenting on the effect of [...]