25th October 2013
2) There’s a lot of Neil Woodford speculation about his post departure plans. Investment Week asks if he will manage a closed end private equity fund.
3) The LT2 Group of US investors including hedge funds now have control of Cooperative Bank. They have reassured customers that the bank’s unique ethical stance will be maintained as the Guardian reports. It wasn’t this stance, but an ill-thought out merger that did for the bank. The Coop itself has 30 per cent now and not, of course, a controlling share.
4) China’s economy and many confidence measures are up but shares are down Reuters reports. As we know, the economy doesn’t always predict share prices nor vice versa. Perhaps a more significant mega-trend is China’s potential retirement crisis as Business Week reports on moves to increase the retirement age.
5) John Major calls for a windfall tax on UK energy companies which may not endear him to Conservative Party leader and PM David Cameron. But will the shares of these companies prove immune to all this political pressure?