Shareholder groups pile the pressure on Mike Ashley as new groups speak out against the retail tycoon August 26, 2016 Fresh voices are adding to calls for a shake up at Sports Direct, with investors demanding a review of corporate governance and some shareholders even urging the retailer's founder Mike Ashley to step down from the board. Ashley has faced a volley of criticism after admitting to the Business, Innovation and Skills (BIS) select committee [...]
Asset managers close the gate on £15bn-£20bn funds July 7, 2016 Post-referendum reverberated through the City yesterday as several more property funds were forced to shut the gate on their investors, while the value of the pound languished below $1.30. Six companies’ funds, with an estimated value of £15bn to £20bn, have been frozen this week as fears over the consequences of the UK’s vote to leave [...]
Oil slips below $50 per barrel as global economic storm clouds gather July 5, 2016 The oil price has dipped below $50 per barrel as investors fret over a potential slowdown in global economic growth. It's feared that a global slowdown could result in a slackening in demand and recent supply outages in Nigeria and other exporting nations have not been enough to offset fears. At pixel time Brent crude was [...]
How crowdfunding can give you an income boost in a low-rate wasteland August 4, 2016 With the Bank of England widely expected to cut interest rates this afternoon, savers are bracing themselves for a further drop in the already pitiful returns they are earning on deposit accounts. According to data from comparison site Moneyfacts, the average five-year fixed rate bond offered an interest rate of just 2 per cent in [...]
BT Sport price increase will place “huge pressure” on pubs July 14, 2016 Pub groups have hit out at BT Sport's 8.9 per cent subscription price rise, announced yesterday, that will be enacted from 1 September. BT's move follows a 10 per cent price rise from Sky last month. The average monthly price for BT Sport for an independent pub will increase by £35 a month to £430, excluding [...]
Are fears about the UK commercial property market overblown? September 14, 2016 As Columbia Threadneedle Investments prepares to join Aberdeen Asset Management and Canada Life in re-opening its £1.4bn property fund, doubts persist over the future of the UK’s commercial property market. The Brexit vote brought three years of double-digit returns from UK property investments to a juddering halt. By early July, panicked investors clamouring to withdraw their [...]
As the monetary policies of the US, the UK and the Eurozone diverge, what should investors make of this fork in the road? September 13, 2016 Since the end of last week, speculation has been mounting that the US Federal Reserve will raise interest rates again this year. The probability of a September rate raise looks slimmer after the Fed’s most dovish official, Lael Brainard, struck a cautionary tone in a speech yesterday. But there is a strong chance that the next [...]
Fixed income managers unanimous in their predictions that Britain will not leave the EU February 11, 2016 Fixed income managers do not expect the UK to leave the European Union, according to a new survey by Aviva Investors. When asked about the prospects of a Brexit later this year, the firm’s 20 fixed income managers unanimously predicted that the UK would remain in the EU for at least another two years. This [...]
City Moves for 1 July 2016 | Who’s switching jobs July 1, 2016 UniCredit UniCredit, Italy's biggest bank by assets, has appointed Jean Pierre Mustier as CEO. Jean Pierre began his career at Societe Generale where he held various positions from 1987 to 2009. In 2003, he was appointed head of Societe Generale’s corporate and investment banking division and member of the bank’s executive committee. From 2011 to [...]
With 10-year German bunds now yielding less than nothing, are bond markets a disaster waiting to happen? June 15, 2016 Tim Price, manager of the VT Price Value Portfolio, says Yes. Almost certainly, yes. With 10-year German bond yields having turned negative, there is now $11 trillion worth of sovereign debt around the world that yields less than nothing. And yet there has never been more debt in the system. The word “madness” springs to mind. [...]