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The recently posted offer document by £30billion mining giant Anglo-American for the purchase of Sirius Minerals reads like any other. The buyer underlines the generosity of its bid noting the big 34.1 per cent premium to the price on the day of the announced deal, and an even bigger uplift of 61.7 per cent if the … Read more
The folly of serial sell-offs: Doing the splits can leave the mother ship vulnerable, says ALEX BRUMMER By Alex Brummer for the Daily Mail Published: 21:51 GMT, 16 January 2020 | Updated: 21:51 GMT, 16 January 2020 At first blush, there looks to be very little in common at FTSE 100 quoted firms ABF, Pearson … Read more
The drumbeat for a cut in interest rates is building, with money markets betting on a reduction as soon as January 30 when the Monetary Policy Committee meets. Some 62 per cent of traders have placed deals which point to a quarter of a percentage point cut in the bank rate to 0.5 per cent. This … Read more
The former chief executive of Persimmon, Jeff Fairburn, and his successor David Jenkinson, will never be able to fully escape the stain of their fat cat bonuses. After a City row over Fairburn’s original payout of more than £100million, it was reduced to £82million (over two years) and Jenkinson received £43.2million. The final insult was … Read more
ALEX BRUMMER: For London’s insurance market the Australian conflagration is a real and present danger By Alex Brummer City Editor For The Daily Mail Published: 23:00 BST, 2 January 2020 | Updated: 08:30 BST, 3 January 2020 Mark Carney has been banging on about climate change since the autumn of 2015. Among sceptics, his speech … Read more
There is a terrific scene at the movie The Big Short, based on Michael Lewis’s brilliant book on the financial crisis, where the director Adam McKay imagines a different ending. Instead of the Wall Street bankers who caused the crash escaping to their luxury Florida villas and yachts, the FBI arrives on the trading floors … Read more
Among the big undeclared losers from overseas takeovers are Britain’s taxpayers. The nation’s research universities, supported by public funds, are the source of dozens of commercial spin-offs, the result of work done in labs and research institutes. When the companies fall into overseas hands, the UK corporate tax base is eroded and the patents and … Read more
Election nights are the kind of occasion when political aficionados plonk themselves in front of the TV and go online to Just Eat for some take-out food. The big question at present is who is going to take out the £5billion British food ordering and delivery platform. At the time of the proposed merger with … Read more
ALEX BRUMMER: Neil Woodford should be ordered to suspend fees – if he declines, his ‘approved’ status should be removed, banishing him from the City By Alex Brummer for the Daily Mail Published: 21:51 BST, 22 July 2019 | Updated: 17:28 BST, 23 July 2019 Seven weeks have passed since investors in the Woodford flagship … Read more
Most savers with direct or indirect holdings in funds run by Neil Woodford are nursing nasty losses. It is worse than that. Investors in two of the firms that promoted the Woodford cult – investor platform Hargreaves Lansdown (HL) and advisers St James’s Place – have had a nasty shock. Not everyone is a loser. … Read more