2014 CityAM awards: It’s always good to toast the best of the City – Editor’s Letter November 13, 2014 In a matter of weeks, during the first few days of January, I will be calling people to invite them to next year’s CityAM awards. The event, the latest of which was held last night, has become a fixture in the City calendar and has grown in stature since its inception. Last night, [...]
CBI director-general John Cridland: “Gosh, we really need to invest in infrastructure” November 6, 2014 In his fourth-floor office overlooking St Paul’s and Canada, CBI director-general John Cridland seems at one with the world. The 49-year-old from Boston, Lincolnshire, is enjoying the relatively new offices and their proximity to the City and he is confident the economy is in good shape and that his members, who are [...]
Time to take Stock of the IPO market – Editor’s Letter November 5, 2014 Those hoping the resurrection of the Virgin Money flotation might lead London’s initial public offering (IPO) markets into an end-of-year revival should take a read of yesterday’s statement from Stock Spirits Group, the Polish vodka maker that floated in London just over a year ago. Shares in Stock Spirits yesterday tumbled more than 25 per [...]
Jose Mourinho is right: Football grounds should be cauldrons of noise November 3, 2014 CHELSEA football manager Jose Mourinho is right, as ever. Stamford Bridge, the club’s home stadium, has become too quiet, even though it’s full to the rafters every week with more than 41,000 fans. In the six years since the Special One, as he is known, last plied his trade in west London, the atmosphere at [...]
One door closes, while others open – Editor’s letter October 21, 2014 Investment bankers are a bit like accountants. They see opportunities from every eventuality. Accountants thrive in the good times and the bad, with the big firms’ restructuring departments jumping into action when the economy turns sour. Yesterday as BCA Marketplace, owner of the webuyanycar.com website, pulled its stock market flotation in London, I asked one [...]
Jimmy Choo to be priced at 140p a share October 16, 2014 ALL EYES will be on how shares in Jimmy Choo trade today as they make their debut on the embattled London stock market. Jimmy Choo is expected to launch its flotation share price at 140p, putting its value at £546m instead of the hoped for £700m. Meanwhile, Virgin Money, the challenger retail bank, is still [...]
Aldermore IPO cancelled: Sadly, we got it right – Editor’s Letter October 15, 2014 After days of fending off suggestions that its £800m flotation was in trouble, the challenger small business bank Aldermore finally succumbed to the inevitable yesterday. The decision to call off the Initial Public Offering (IPO) is a pity for Aldermore and for the market as a whole. London’s IPO market performed tremendously well during the [...]
Aldermore IPO decision shows how little appetite there is from anything but exceptional unlisted companies October 15, 2014 The decision by advisers to Aldermore, the lender to small businesses, to pull its flotation is the most high profile collapse in the new issues market this year, reflecting widespread concerns that there is little appetite left in London market for anything but exceptional unlisted companies who wish to raise new funds. The group, [...]
Aldermore IPO on the brink October 14, 2014 The flotation of Aldermore, the challenger bank focused on small business lending, was on the brink of collapse last night. Aldermore, which is trying to raise funds in the market at the same time as the retail challenger bank Virgin Money, has faced a tough time during its marketing period. Demand has been [...]
David Cameron misses his pal Sir Charles Dunstone’s lavish birthday bash October 13, 2014 PRIME Minister David Cameron was the surprise omission from billionaire phone shop founder Sir Charles Dunstone’s lavish 50th birthday celebrations in Venice over the weekend, fuelling speculation their relationship has soured. Guests included Sir Stuart Rose, Karren Brady and Lord Coe. Many other celebrity business figures were expected at the bash and sources said they [...]
