Friday 23 November 2012

Abchat Weekly Wrap Up: UK Exports Emerge in Russia

The UK government recently learned that Russia has agreed to lift its 16-year ban on British beef and lamb, giving UK farmers access to a rapidly growing consumer and business market. The ban originated in 1996 following the outbreak of BSE in the UK and subsequent worldwide ban on British beef. The World saw it fit to lift the ban on British bovines in 2006, however the Russians only decided to follow suit yesterday following the Moscow visit of Nigel Gibbens, the UK’s chief veterinary officer. This six year wait could not have come at a better time, with the UK’s food exports booming, recently hitting levels of £10bn per year. It is encouraging to see British farmers being exposed to as many markets abroad as possible – and last year food and drink exports rose by 9% to £18.2bn so long may this positive rise in UK agricultural exports continue.

British food is starting to be recognised around the world for high quality and rigorous production standards, and the change in Russia’s stance highlights this. Hopefully this will help to level out the UK’s somewhat negative balance of trade and Russians can joy a real Aberdeen Angus Steak

Abchurch’s Creative Director went to Google’s London Headquarters for a seminar on Google’s expanding social media product suite

The Life Sciences Team hosted an exclusive Roundtable lunch with Dorsey & Whitney for some of the industry’s top thought leaders. There were insightful discussions including the dichotomy between the scientist and CEO, whether AIM is the right market for pre-revenue companies and the growing importance of China as a scientific hub

Our Resources Team hosted a Market Lunch which also brought up some useful discussions on the value of PCIMs

Abchaps attended a number of impressive seminars this week, including:

Bank of New York Mellon Investment Panel discussing topics such as mezzanine finance and agriculture

Gorkana Breakfast Briefing with Estates Gazette Editor Damian Wild on whether online media is killing traditional journalism

Angel News’ VCT & EIS Investment Forum where we were particularly impressed with the Social Impact VCT presentation

Abchaps also went go-karting with the Shore Capital team and enjoyed Farrer & Co Entrepreneurs Reception

Some of the team also attended a Finance Talking course on Financial Results & Annual Reports

Credit ratings agency Moody, downgrades France’s debt from AAA to AA1 amidst it’s economic challenges and the threats that poses to economic growth

UBS rogue trader Kweku Adopboli, who totalled up £1.3bn of rogue trade losses, was jailed for seven years

Swiss Bank now faces a £50 million fine by the FSA for management control failings

Argentina’s economy raises cause for concern after the US ruling orders the country to pay $1.3bn to hedge fund creditors. The US victory sparks fears that Argentina could face being plunged into another sovereign default

A deal is finally sealed between David Montgomery’s Local World and the Daily Mail & General Trust. The £52.5m deal see’s the purchase of Northcliff Media - the 80-plus regional titles, as well as a 40% stake in the new Local World venture

Stockwatch: After encouraging talks regarding the US deficit and the looming fiscal cliff, Wall Street’s S&P stocks saw closed on Monday with their biggest one-day gain in over two months

Moreover, the retail sector announces a 26.8% rise this year – well ahead of the 10.6% seen by the broader equity market, which is particularly timely as today marks the shopping frenzy of Black Friday

Numis announced this week a new mining team, with John Prior heading up the corporate finance side and Matthew Hasson appointed as director in specialist sales

BDO has strengthened its financial services team with the appointment of a partner, senior manager and a director

Angelos Anastasiou has joined Seymour Pierce as an analyst covering Utilities

Former head of BBC News Tony Hall has been appointed Director General at the BBC following the departure of George Entwistle

Stephenson Harwood has appointed Marta Garcia as a competition partner in its corporate practice

'Hair Cut' - When investors agree to take less than they are owed in a settlement of a debt. For example, if lenders agree to take a 50% haircut, they are agreeing to lose 50% of the money they lent

London's leading artist-led "The Other Art Fair" opened yesterday and is on until Sunday. Buy directly from over 100 of the UK and other global unsigned artists
Hyde Park's Winter Wonderland 2012 opens this evening for the festive season - it is on until 6th January
The Scandinavian Christmas market is on for this weekend only in Rotherhithe - no doubt you'll catch our Finnish Commercial Manager there!

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