From Quindell and Gotham City to Uber and the LDTA – five of the biggest business battles to watch out for in 2015 December 22, 2014 Rival camps have banded together, the lines are drawn, battle armour is on and adrenaline is running high. All that's left for spectators to do is grab some popcorn and watch from the ringside. From rival estate agents, to a business targeted by a Batman styled US fund and an influx of tiny new banks [...]
S&P 500 jumps the most in nearly two years December 18, 2014 The S&P 500 jumped the most in nearly two years posting gains of nearly two per cent, after the federal reserve's pledge for "patience" with future rate hikes sparked a global market rally. It surged 2.4 per cent to 2,061.23 which is it's best daily performance since January last year. The Dow Jones Industrial Average [...]
Seven charts that sum up 2014 December 18, 2014 (Source: Getty) Voter behaviour went awry Politics isn't dead yet House prices crash averted Growth rates returned to pre-crisis peaks Wage growth finally beats inflation What for forward guidance? Black Friday hit the UK
Fitch cuts Venezuela’s credit rating to ‘CCC’ on oil price plunge December 18, 2014 Credit rating agency Fitch has slashed Venezuela's credit to 'CCC' on plunging global oil prices, which means "default is a real possibility." It said the country's economy has little room to manoeuvre in the face of crumbling global oil prices, which has eaten away at its main source of income. Venezuela's oil dependent economy requires an [...]
Aer Lingus rejects takeover bid by British Airways owner IAG December 18, 2014 Aer Lingus has rejected a takeover bid by International Consolidated Airlines Group (IAG), the latter said in a statement to the London Stock Exchange today. It confirmed an earlier report it had made a takeover bid for the company. IAG, the company behind British Airways and Spanish flag carrier Iberia, also said there was no certainty of [...]
Federal Reserve policy statement: Interest rate hike is getting closer December 17, 2014 The Federal Reserve's policy statement shows it's inching closer to an interest rate hike. Here are some of the key takes. "Considerable time" is gone The Fed has dropped its "considerable time" approach to interest rates rises instead favouring "patience" in normalising policy. "Considerable time" was widely believed to mean six months so many commentators [...]
Man Group swoops for US-based Silvermine Capital in a $70m deal December 17, 2014 Man Group, a London-listed hedge fund manager, will buy Connecticut-based Silvermine Capital Management for $70m (£45m). Man, the world's largest listed hedge fund, will pay $23.5m in cash up front, followed by two cash payments of up to $16.5m after one year, and another potential $30m after five years. Silvermine, a leveraged loan fund with [...]
Chancellor George Osborne confirms government will sell more Lloyds shares December 17, 2014 The chancellor has announced the government will sell more shares in Lloyds Banking Group within the next six months. The sale, to be managed by investment bank Morgan Stanley, will help the government raise up to £2bn, UK Financial Investments (UKFI), the body which manages the government's investments, confirmed. Presently it owns around 17.8bn ordinary [...]
Catlin share price soars 10 per cent on £2.5bn takeover approach from XL Group December 17, 2014 Shares in insurer Catlin whizzed up 10 per cent today after the group said it is in talks with XL Group over a possible takeover which would value it at $3.9bn (£2.5bn). XL Group would pay 410 pence per share in cash and 0.130 share for each Catlin shares, the Lloyds of London insurer said [...]
Westminster council spurns property developers in battle for office space December 16, 2014 Westminster council has dealt a blow to the city's property developers eager for a slice of the expensive central London borough. It's begun a consultation on planning policies which will require developers who want to covert offices into homes to replace the lost work space. The move aims to stop a recent trend which has [...]
