Aveva’s share price plummets 36 per cent as it calls off talks with Schneider Electric saying £550m merger would create “significant” challenges December 15, 2015 Aveva's share price plummeted more than 36 per cent this morning after the engineering group called off talks with Schneider Electric, saying a merger would create "significant" challenges "that could not be overcome without considerable additional risk and cost". The two businesses had announced a merger this summer, in which Schneider would have paid £550m for a 53.5 [...]
Millennials are raking it in from their grandparents’ cashed-in pensions October 6, 2015 The Taxpayers’ Alliance may be pushing for an end to winter fuel subsidies and senior bus passes, but researchers at Investec have hit back with a study claiming that pensioners are already hard done by because they have to spend so much on their damn grandkids. The study couldn’t have been better timed, it [...]
At the close: FTSE 100 index closes down on Sports Direct, Old Mutual December 10, 2015 The FTSE 100 index slid in Thursday's trading despite gains by Glencore as both Sports Direct and Old Mutual tumbled. The index closed 0.63 per cent down at 6,088 points. Sports Direct slumped after Mike Ashley's retailer posted underwhelming first half results and the company was criticised for staff working conditions. Group revenue ticking up 0.1 per cent to £1.43bn, [...]
Debenhams’ and Spire’s share prices lead the fallers on the FTSE 250 after analysts’ warnings December 3, 2015 Debenhams and Spire Healthcare were the two biggest fallers on a buoyant FTSE 250 today following on from analysts' warnings. Retailer Debenhams was down 4.45 per cent to 79.2p per share in early-afternoon trading, after a note from Goldman Sachs cast doubt on its profit outlook. Read more: Debenhams set for shareholder leadership coup Analysts at Goldman Sachs said the outlook for profits for [...]
Cain Hoy and Sager secure loan for £400m luxury Islington scheme October 14, 2015 Cain Hoy, the US private equity firm that fleetingly considered buying Tottenham Hotspur last year, is pushing ahead with the £400m luxury development of a landmark Islington site after securing a £190m loan. Cain Hoy and its joint venture partner Sager Group are turning the Edwardian former Royal Mail sorting office on Upper Street into a residential, [...]
Bank of England’s monetary policy committee to keep interest rates at record lows this week January 10, 2016 The Bank of England’s committee of rate-setters will be keeping interest rates at record lows this week. A renewed drop in oil prices and slower pay growth are set to weigh on the Bank’s inflation outlook. Last month it voted to keep rates at 0.5 per cent – it aims to bring inflation to two per [...]
Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]
Senior workers are holding off retirement and cashing in pensions for their own children October 5, 2015 The Taxpayer’s Alliance may be pushing for an end to winter fuel allowances and senior bus passes, but researchers at Investec have hit back with their own study, claiming that the elderly are already suffering because they’re giving too much of their pension pots to their grandchildren. The study claims that parents and grandparents who gift [...]
City Moves for 18 November 2015 | Who’s switching jobs November 17, 2015 CAPITAL GROUP The investment management company has appointed Chris Miles as director, financial intermediaries. He joins from Fidelity Worldwide Investment, where he was associate director, wealth manager sales, responsible for the sales and relationship management of discretionary accounts. PwC The professional services firm has appointed Leo Ring and Hannah Carter to its pensions and investment [...]
Ladies who don’t lunch: Maike Currie talks to Christine Johnson about bonds, bubbles and being a rebel July 14, 2016 "I am definitely a bond person,” says Christine Johnson, head of fixed income at Old Mutual Global Investors. We’re having lunch at Spring restaurant in Somerset House and I am beginning to understand what Christine means when she says that as a fund manager you need to “live your job”. She likens her personality to [...]