NCC chief exec Rob Cotton has stepped down after profit warnings March 1, 2017 Cyber security group NCC has announced chief exec Rob Cotton has stepped down today with immediate effect. The departure follows two recent profit warnings, and the group is now on the hunt for a new boss and a new chairman. Paul Mitchell, the current chairman, steps down at the end of May. The company recently appointed [...]
Ignore the pessimists: Why I’m bullish on Snapchat’s IPO March 1, 2017 Today could see the official start of the biggest tech IPO in history. Snapchat will finally announce the price per share it will be seeking for its long-awaited public offering. If the social media giant gets the valuation it’s rumoured to be expecting, a whopping $25 billion, its IPO could end up dwarfing even Facebook’s [...]
The Financial Conduct Authority launches consultation over plans to reform IPO process March 1, 2017 The Financial Conduct Authority (FCA) has launched a consultation over plans to reform the initial public offering (IPO) process in the UK. The watchdog has voiced concerns that investors don't get enough information before new firms list on the stock market, posing risks. So it has drafted up proposals for investors to get independent research [...]
Higher oil prices alone won’t rescue failing petro-states like Venezuela March 1, 2017 At the annual International Petroleum Week at Grosvenor House on Park Lane last week, all eyes were on Mohammed bin Saleh al-Sada, the Qatari energy minister. The dignitary was honoured with a special award, “International Oil Diplomacy Man of the Year 2016”, as one of the masterminds behind the production cuts agreed to last November [...]
The Dow Jones hits 12th record high close as Trump promises a big infrastructure announcement February 28, 2017 The US Dow Jones index closed at a record high for the 12th day in a row on Monday after President Donald Trump promised a "big" infrastructure announcement was to come. That marks the longest winning streak for the share index since January 1987, with the Dow Jones Industrial Average finishing 15 points higher at [...]
The Bank of England has admitted to a Michael Fish moment – but economists have plenty to learn from weather forecasters February 27, 2017 So British economists are like the nation's most notorious weatherman when it comes to Brexit? That's what the Bank of England (BoE) has reasserted before the Commons Treasury Select Committee. The nation's number crunchers, said BoE chief economist Andy Haldane, mostly thought Britain's economy would crumble and growth would go into reverse following a Yes vote in last year's EU referendum. [...]
Daisy Group is reported to be considering stock market float February 26, 2017 Daisy Group, the telecoms company which went private two years ago, is reported to be considering a stock market comeback either this year or in early 2018. According to The Sunday Times, the company is plotting a £1.4bn market return, after private equity firms Toscafund and Penta Capital taking Daisy Group out of public hands [...]
Unilever investors are gunning for it to be broken up after the Kraft Heinz deal failed February 26, 2017 Some of Unilever's largest shareholders have spoken out after the failed takeover attempt by Kraft Heinz, calling for a break-up of the consumer products giant which could lead to its food brands, including Marmite and Ben & Jerry's, being separated off from its personal care division. Matthew Tillman, fund manager at Allianz, Unilever's 14th biggest [...]
RBS feels the pain as British Airways’ parent IAG soars on a stolid day for the FTSE 100 February 24, 2017 The FTSE 100 ended the week with less bang, more whimper on Friday as it dipped by 0.38 per cent. London’s main index dipped below 7,200 points briefly before recovering to close at 7,243.70 points. The weaker pound, which fell to lows of $1.2483 US dollars in spot trading in the late afternoon, did little [...]
FTSE reshuffle: Dixons Carphone, Easyjet, Capita and Intu all face relegation February 24, 2017 It's FTSE 100 reshuffle time again next week – and research suggests Dixons Carphone, EasyJet, Capita and Intu Properties could all be in the relegation zone. The Share Centre said potential replacements include the Scottish Mortgage Investment Trust, whose focus on international investments means it is making the most of a stronger pound, and asset [...]