By Harry Wise Updated: 08:10 GMT, 27 December 2023 Among the companies with reports and trading updates today are AstraZeneca and Poundland. Fashion house Stella McCartney narrows losses to £10m Stella McCartney’s fashion house slashed its losses last year as it pushed ahead with a turnaround. The label, run by the daughter of Beatles legend … Read more
By Daily Mail City & Finance Reporter Updated: 07:33 GMT, 22 December 2023 Cruise giant Carnival is eyeing another year of record sales and profit in 2024. The company, whose lines include P&O Cruises and Cunard, which operates the Queen Mary 2, Queen Elizabeth and Queen Victoria, has cashed in on demand for post-pandemic travel. … Read more
Britain must ditch an EU law that has left investment trusts in ‘existential danger’ By Calum Muirhead Updated: 11:20 GMT, 24 December 2023 Speaking out: Baroness Ros Altmann told The Mail on Sunday that the rules had been ‘misapplied’ Britain must ditch an EU law that has left investment trusts in ‘existential danger’ and ‘starved’ of … Read more
City grandee Ken Costa City grandee Ken Costa is one of the few prominent investment bankers to have been a Marxist. As a student in his native South Africa, he was active in the struggle against apartheid and met Nelson Mandela a number of times. Costa says he is ‘probably the only banker’ to have … Read more
If you were to describe the technology sector in 2023, a classic 1960s movie set in 19th-century Mexico would probably represent an accurate analogy. ‘The Magnificent Seven’ is how Michael Hartnett, Bank of America’s chief investment strategist, described the crème-de-la-crème of US tech companies. Collectively, Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla have not … Read more
By City & Finance Reporter Updated: 22:04 GMT, 22 December 2023 It’s been a gripping year, with a banking crisis, the departure of two heavyweight FTSE 100 chief executives and the sight of private equity sharks sinking their teeth into our best loved firms. But there were also signs of stability, with cooling inflation sparking … Read more
Brent Crude oil futures were 0.9% higher at $80.32 on Friday morning trading Houthi rebels claim to have attacked ships they believe are heading to Israel Many prominent shipowners have diverted journeys away from the Red Sea By Harry Wise Updated: 14:43 GMT, 22 December 2023 Oil prices tipped above $80 per barrel on Friday … Read more
By Live Commentary Updated: 08:43 GMT, 22 December 2023 The UK economy shrank by 0.1 per cent in the third quarter, revised down from previous estimates of flat growth for the period, fresh data from the Office for National Statistics shows. The FTSE 100 is down 0.1 per cent in early trading. Read the Friday … Read more
Ask the average founder or chief executive what gets them out of bed, and most mumble a mistruth about making a difference, while quietly pocketing a seven-figure salary. Not Charlie Mullins. ‘Money motivates me,’ declares the spiky-haired entrepreneur who sold Pimlico Plumbers to US home services giant Neighborly in 2021 for £140million. ‘It bought this,’ … Read more
NewGAMe intends to increase its GAM stake from 17.5% to ‘no less than’ 27.1% London-listed Liontrust Asset Management failed to buy GAM earlier this year By Harry Wise Updated: 15:47 GMT, 21 December 2023 An investment vehicle backed by billionaire Xavier Niel will become the largest shareholder in GAM after receiving approval from Irish authorities. … Read more
