BP share price rises despite earnings slide – but it can break even if oil prices hit $60 per barrel October 27, 2015 A mammoth dip oil prices, now at $47.14 per barrel, during the third quarter was not all bad news for BP as outdid analysts' expectations, and the company predicts it can break even by 2017 based on oil prices of $60 per barrel. The figures BP reported a 40 per cent drop in underlying replacement cost profits (a measure of profitability [...]
Investec issues apology to Benjamin Lawsky after analyst Ian Gordon’s Eric Garner gaffe December 10, 2014 South African bank Investec gave US regulator Benjamin Lawsky a grovelling apology last night, after one of its analysts compared Lawsky’s actions against Standard Chartered to the treatment of Eric Garner – an unarmed black man who died at the hands of police officers in America. At a time of inflamed tensions over police behaviour in the [...]
England seamer Mark Wood admits he may be forced under the knife to cure ankle injury August 18, 2015 England seamer Mark Wood has conceded that he may need an operation to cure a long-term ankle problem, placing his participation in series against Pakistan and South Africa later this year in doubt. Wood was hampered by the problem during a laboured display in the second Investec Ashes Test at Lord’s, forcing him to miss the [...]
City Moves for 05 October 2015 | Who’s switching jobs October 4, 2015 EY The professional services firm has appointed Omar Ali as its new UK financial services leader. He replaces Chris Price, who will lead EY’s global people advisory services. Ali was previously UK banking and capital markets leader. He joined EY in 2001, becoming a partner at the age of 29 in 2006. He began his [...]
Best of the Brokers for 12 August 2015 August 12, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DAIRY CREST The Competition and Markets Authority’s welcome announcement this week indicating that it plans to accept remedies offered by Muller, the suitor of Dairy Crest’s liquid milk operations, has prompted Shore Capital to reaffirm its “buy” rating and target price of 603p [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
Canary Wharf’s seal of approval August 14, 2015 LONDON’s finance sector now has a mascot infinitely better than the Investec Zebra. There’s a seal living in Canary Wharf! A seal! An actual seal! The fishmongers at Billingsgate Market, gawd bless ‘em, have known about the Wharf’s longest resident for about 10 years, as he commutes to the market every morning to get fed [...]
Root wants Test ranking top spot after Ashes glee August 23, 2015 AT THE KIA OVAL ENGLAND vice-captain Joe Root believes Ashes success can prove the springboard for assuming the status of the world’s best team despite defeat in the final Investec Ashes Test yesterday tainting his side’s series win. Australia salvaged some pride from the wreckage of a disappointing Test campaign by dismissing England for 286 [...]
Ashes 2015: Nobody is safe from chop, says Adam Lyth July 22, 2015 Under-pressure opener Adam Lyth believes the axing of Yorkshire team-mate Gary Ballance from England’s squad for the third Investec Test against Australia next week is proof that nobody’s position in the team is safe. Read more: Bairstow into firing line as Ballance axed Selectors responded to England’s 405-run drubbing by Australia in the second Test at [...]
Ronson merges petrol forecourt retailers and signs £1bn BP deal June 29, 2015 GERALD Ronson has merged his two petrol retailing businesses Snax 24 and Rontec to create one of the UK’s largest roadside retail businesses with £1.5bn of sales. The merger sees Snax 24’s 44 sites added to Rontec’s 166 forecourts to create a business with 210 petrol service stations, including two motorway sites. The enlarged Rontec [...]