S&P’s US downgrade sparks stock sell-off April 18, 2011 Alarm over deteriorating public finances in the US, Greece and other peripheral eurozone nations hit markets today, pushing the FTSE down to its lowest close in four weeks. Credit rating agency Standard & Poor’s cut its outlook on the US’ rating outlook to negative, from stable, citing a lack of decisive action to rein in [...]
UK companies set to unlock profit out of global growth April 13, 2011 TOM Ewing is the engaging and energetic manager of Fidelity’s UK Growth fund, which has over half a billion pounds under management. The 34 year old scours the country looking for undervalued companies that are able to tap into the increasing wealth of consumers in emerging markets. From the powerhouses of the FTSE, down to [...]
Just three weeks to go to get your entries in for the City’s best awards April 12, 2011 THERE are just three weeks left to get those entries in for City A.M.’s second awards ceremony where we will be celebrating the best of London’s financial business community and its most successful individuals and firms. Anybody present at last year’s inaugural ceremony will bear testimony to the fact that the City A.M. awards have [...]
Caution ahead of US results pulls FTSE 100 to a flat close April 11, 2011 BRITAIN’S top share index closed flat yesterday, with caution from traders wary of turbulence during the US earnings season offset by strength in the banking sector following the ICB report on the future shape of UK banking. The FTSE 100 closed down 2.31 points, or 0.04 per cent, at 6,053.44 after trading in positive territory [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 10, 2011 FINANCIAL TIMES BIG MEDIA NAMES BACK BOUTIQUE BANK RAINE Eric Schmidt, Sean Parker, Peter Chernin and other big names from the media and technology sectors have invested in a merchant bank started by two ex-Wall Street dealmakers and Ari Emanuel, head of William Morris Endeavor talent agency. CAPITAL RULES DEAL A BLOW TO LIFE ASSURERS [...]
BEST OF THE BROKERS April 10, 2011 PREMIER FOODS Investec rates the food maker “hold” with a target price of 35p. The broker believes Premier has made itself investable again following a balance sheet restructure, although the stock is seen as a long-term play due to short-term trading headwinds that will make it difficult for the firm to meet its cash generation [...]
WPP bets on eccentric magazine moguls’ plan April 5, 2011 VICE, the media group that includes the famous monthly magazine of the same name, has attracted funding from Sir Martin Sorrell’s WPP, the leading communications agency, as part of a multi-million dollar fundraising. Vice has long had an anarchic reputation in the publishing world, not least because of bombastic statements from co-founder Shane Smith. Speaking [...]
WPP bets on eccentric magazine moguls’ plan April 5, 2011 VICE, the media group that includes the famous monthly magazine of the same name, has attracted funding from Sir Martin Sorrell’s WPP, the leading communications agency, as part of a multi-million dollar fundraising. Vice has long had an anarchic reputation in the publishing world, not least because of bombastic statements from co-founder Shane Smith. Speaking [...]
Populist tax on oil firms has backfired March 30, 2011 IF George Osborne is to be believed, Britain is open for business once again. Some senior executives clearly agree: Sir Martin Sorrell, WPP’s boss, wants to move his firm’s legal base back to Britain if all of the proposals in the Budget are voted through. But if you are an oil and gas company, or [...]
WPP set for return to UK March 24, 2011 WPP could be set for a sensational return to the UK after boss Sir Martin Sorrell said he will recommend it to redomicile from Ireland following the budget. He said in an email: “We’ve looked at small print and releases. Subject to draft legislation and enactment we will recommend a return to the UK to [...]