Qatari bank with largest stake in UK broker Panmure Gordon to review portfolio after Brexit vote August 16, 2016 Qatari investment bank QInvest, the largest shareholder in UK-based stockbroker Panmure Gordon, will be “carefully reviewing and stress-testing” its portfolio after the Brexit vote. The company today reported revenue of $65.7m (£50.6m) for the first half of 2016 – up from $53.7m in the same period in 2015. The firm’s net profit, meanwhile, came in [...]
Four of the best: Investment opportunities from around the globe August 16, 2016 Markets have been turbulent this year and much talk has focused on potential risks. A smattering of uncertainties to consider include the ramifications of the Brexit vote and whether the UK will enter recession. Nor does anyone know how extraordinary monetary policy in Europe will pan out, or the ultimate impact there’ll be from the trillions [...]
Speedy Hire on the end of another rottweiler attack after chairman holds ground August 15, 2016 Activist investor Toscafund has this morning launched a fresh attack on Speedy Hire. Toscafund, which is the main shareholder in the company, has called for the ousting of chairman Jan Astrand. Read more: Toscafund urges Speedy Hire chairman to resign ahead of general meeting The activist, whose chief executive Martin Hughes has the nickname Rottweiler [...]
Speedy Hire set for another rottweiler attack from activist investor August 14, 2016 Speedy Hire is preparing for another attack from its largest shareholder, activist investor Toscafund, on Monday morning. Toscafund is planning to publish a new letter accusing the firm’s chairman, Jan Astrand – who refused the fund's demands last week to stand down – of failing to address its concerns. Read more: Toscafund urges Speedy Hire chairman to [...]
It’s official: The Royal Mint says there’s been a major gold rush since the Bank of England’s interest rate cut August 12, 2016 There's been a gold rush on since the Bank of England's interest rate cut, it turns out – after the Royal Mint confirmed a huge uptick in the number of people buying gold. Chris Howard, the Royal Mint's director of bullion said today that its bullion trading site had experienced a 250 per cent increase [...]
Helena Morrissey moves from chief executive to chair of Newton Investment Management August 12, 2016 Helena Morrissey, one of the city's most influential figures, will move from chief executive to chair of Newton Investment Management as part of a leadership shake-up at the asset managers. Morrissey has been chief executive of the firm for 15 years, and will stay on as a non-executive chair of Newton's board. She will be replaced [...]
The Cambrian Explosion: What does the CMA report mean for alt fi? August 11, 2016 After a two-year investigation into retail and SME banking, this week the Competition and Markets Authority (CMA) mandated the adoption of Open Banking by early 2018. Open Banking will be underpinned by secure authorised data gateways called application programming interfaces (APIs), the pipes of modern software technology. Just as our Android or Apple smartphones opened [...]
How small firms are increasingly turning away from traditional lenders for funding August 11, 2016 Small businesses are increasingly being drawn to direct lending platforms, a new report has suggested. The Centre for Economics and Business Research (CEBR) report, commissioned by peer-to-peer (P2P) lender Funding Circle, found that direct lending to businesses at the beginning of 2016 was up 50 per cent year on year. Read more: Financing students: How [...]
The Loch Ness Monster of investments? Trade body says there is no evidence of hidden fund fees August 9, 2016 The investment managers’ trade body has published a report questioning the existence of hidden fees lurking in funds. The Investment Association today condemned “hidden-fees hysteria”. The IA research, carried out by Fitz Partners and published today, found that equity fund returns are 0.71 per cent above index returns each year, looking at data from between [...]
Meggitt share price leaps on news of second major investor increasing stake August 8, 2016 Activist investor Elliott Management increased its position in Meggitt this morning driving up the share price of the struggling engineer nearly nine per cent. Elliott is the second major investor in Meggitt shares over the last few days. Norges Bank took a three per cent stake on Friday and Elliott, who had already built up a considerable interest [...]