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Tuesday newspaper round-up: May in New York, Ladbrokes, building blocked

Tue, 20th Sep 2016 06:57

(ShareCast News) - Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their UK business. Mrs May will meet "mostly" chief executives from the finance sector along with figures from the technology and entertainment sectors at the mid-town residence of the British consul-general in New York on Monday. - Financial TimesUp to 700 gambling industry jobs could be lost in London as a result of the impending £3.3 billion merger of Ladbrokes and Gala Coral Group. In an internal email, Carl Leaver, Gala Coral's chief executive, told employees that, in an attempt to remove duplication, there could be "around 600, maybe up to 700, fewer positions" at the merged company, equivalent to about half the combined total. - The TimesSmall and medium-sized house builders are struggling to find land on which to build, exacerbating the shortage of new homes, according to a new poll. A survey by the Federation of Master Builders found that 67pc SME house builders in England face a "lack of available and viable land" as their biggest problem for the second consecutive year. - TelegraphPre-EU referendum jitters have caused a slump in the number of shops opening their doors, according to a biannual report monitoring vacancy rates on the UK high street. Shop closures outstripped openings by 1,997 from January to the end of June, according to the retail data firm Local Data Company. - GuardianJapan's central bank will open a new front this week in the battle against deflation by overhauling its quantitative easing programme as policymakers worldwide look for new ideas to kickstart growth. The Bank of Japan will unveil the conclusions of a "comprehensive assessment" of its monetary policies on Wednesday, when it is expected both to increase and reprofile QE alongside an interest rate cut deeper into negative territory. - The TimesRock-bottom returns are increasingly pushing investors to abandon the drive for socially responsible investments, according to a study from Hermes Investment Management. A survey of more than 100 institutional investors found that 60pc believe that environmental, social and corporate governance (ESG) risks justify rejecting an otherwise attractive investment - down from 67pc a year ago. - TelegraphFraud in the UK payments industry has soared by 53% in a year as criminals resort to increasingly sophisticated tactics to trick people out of their personal details and steal their money. Official industry data shows that a total of 1,007,094 cases of financial fraud - involving online and phone banking, debit and credit cards, and cheques - occurred between 1 January and 30 June this year. That compares with the 660,308 cases reported during the same six-month period in 2015. - GuardianThe White House will release guidelines for self-driving automobiles on Tuesday, as well as model legislation recommended to states that want to follow in the footsteps of California, Florida and Nevada, which have legalized automated vehicles. The US Department of Transportation (DoT) will publish a new document containing "vehicle performance guidance for manufacturers, developers, and other organizations", including a 15-point safety assessment auto-makers are being asked to sign and submit to the DoT. - GuardianHong Kong's bankers fear that one of their most important institutions, the Listing Committee, is under threat and with it the city's role as a global centre for capital raising. The perceived danger comes from a proposed shake-up to how initial public offerings are approved that has been put forward by the Securities and Futures Commission and the Hong Kong Exchange, and aim to streamline the listing process and make it more transparent. - Financial TimesRussia's state-owned nuclear developer has warned EDF that delays or cost overruns at its Hinkley Point power project risk damaging the credibility of the wider industry. Kirill Komarov, deputy chief executive of Rosatom, the Kremlin-controlled company that is building more reactors than any other group, said that problems at other EDF projects, such as Flamanville in France, were having a detrimental impact on the reputation of the industry. - The Times
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31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

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26 Oct 2016 15:57

Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of

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21 Oct 2016 14:38

Daisy pulls sterling junk bond as investors get tough

By Robert Smith LONDON, Oct 21 (IFR) - Daisy called off an attempt to issue a sterling high-yield deal on Friday, in the latest sign of waning UK investor appetite for riskier debt in challenging sectors. The UK company threw in the towel on the debut bond after four days of marketing

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18 Oct 2016 17:12

UPDATE 4-William Hill, Amaya drop short-lived gambling merger talks

* Talks abandoned less than two weeks after announcement * Sector consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Amaya shares drop 8.3 percent (Adds share move, Amaya spokesman

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18 Oct 2016 13:24

RPT-UPDATE 3-William Hill, Amaya drop short-lived gambling merger talks

(Repeats for wider distribution, no changes to text) * Talks abandoned less than two weeks after announcement * Sector is consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Ama

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18 Oct 2016 08:28

Ladbrokes revenue grows for fourth successive quarter

(ShareCast News) - FTSE 250 betting and gambling company Ladbrokes reported growth for a fourth successive quarter for revenue as it remains confident of delivering full year results in line with expectations. In a trading update for the third quarter ended 30 September, net revenue increased 12.1%,

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18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

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17 Oct 2016 07:13

Ladbrokes and Coral announce planned sale of 359 shops

(ShareCast News) - Bookmaker Ladbrokes announced on Monday that subsidiaries of both itself and merger partner Gala Coral Group have agreed to sell a total of 359 licensed betting offices to Done Brothers Cash Betting - trading as Betfred - and StanJames Abingdon - trading as Stan James. The FTSE 25

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17 Oct 2016 06:58

Monday newspaper round-up: New Brexit plans, dividends, supermarkets

(ShareCast News) - Britain would continue to pay billions of pounds into the EU budget after Brexit to maintain cherished single-market access for the City of London and other sectors under plans being discussed by Theresa May's cabinet. The prime minister's demand that Britain controls its borders

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17 Oct 2016 06:20

Ladbrokes, Gala Coral to sell 359 shops ahead of merger

LONDON, Oct 17 (Reuters) - British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds ($69 million) to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed. The pair were told in Ju

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10 Oct 2016 07:49

BUZZ-William Hill: best day in 3 months after confirming merger talks

** William Hill rises 5.4 pct, its best day since mid-July, after confirming merger talks with Canada's Amaya ** Co says deal would create a global leader in sports betting, poker and casino ** Top riser on Stoxx 600 and most traded by average volumes - 1.5x 30-day average in the firs

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7 Oct 2016 07:39

BUZZ-UK gambling companies lower after media reports of TV ad ban

** Shares in British gambling companies fall after The Times newspaper reports that the companies are due to be banned from advertising on television during the day ** William Hill down 2.9 pct, Labrokes down 2.5 pct vs. Britain's midcap index which is up 0.2 pct ** Cenkos analyst Sim

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31 Aug 2016 07:51

Gala Coral revenue up but losses widen

(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs. In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings be

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26 Aug 2016 08:46

Ladbrokes given a boost by Berenberg upgrade

(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech. The broker said since it initiated on Ladbrokes a number of positives have materialised with

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