City File: Stewart Newton
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.WHEN an up-and-coming fund manager buys a big stake in a merchant bank that also depends heavily on fund management, outsiders will detect either an incipient bid or a professional compliment. Yet shares in merchant bank Singer & Friedlander remained unimpressed on last Thursday's announcement that Newton Investment Management had accumulated a 16.6 per cent stake, in the names of a number of institutional clients.
Stewart Newton denies any malice aforethought - he simply thinks the shares are good value and that Singers is one of the few banks without any black holes in its loan portfolio. At 52p, near their high for 1992/93, the yield remains a generous 6.4 per cent and the p/e an undemanding 11.4.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments