City maverick David Buik slams Sir Mervyn King’s BoE speech February 13, 2013 CITY stalwart David Buik of Cantor, who is known for his poetic City commentary – often quoting the likes of Whitman, Shakespeare, Poe and Housman – was left unimpressed with the Bank of England governor yesterday. “I would hardly describe myself as the sharpest pin in the box” opened Buik. “However having looked at the [...]
Mining and banking shares boost FTSE February 11, 2013 The leading share index was modestly up in early deals, as mining and banking shares boosted the FTSE 100. Russian steelmaker Evraz rose 1.77 per cent. Miner Eurasian Natural Resources was up almost 1.7 per cent in early deals. Last week the Kazakh-focused miner soared more than nine per cent as it reported a jump [...]
Business backs Cameron’s call on Europe vote January 23, 2013 BUSINESS leaders yesterday broadly welcomed David Cameron’s plans to renegotiate a new deal with the European Union. In a letter to The Times, 48 industry and City leaders said the Prime Minister’s promises of a negotiation followed by an “in-out” referendum within five years was “good for business and good for jobs in Britain”. The [...]
Confident Dubai raises $1.25bn as it returns to the bond market January 23, 2013 THE GOVERNMENT of Dubai cemented its comeback to the bond markets late on Tuesday, comfortably selling $1.25bn (£787m) in notes as the Middle Eastern state takes advantage of its improved image among investors. It launched both a $750m 10-year Islamic bond – known as a sukuk – as well as offering a more conventional $500m 30-year bond. [...]
Why the investment credential is moving fast to stay relevant January 23, 2013 THE Chartered Financial Analyst (CFA) programme aims to produce individuals with a good understanding of the key techniques, major asset classes, and ethical and professional standards most needed in today’s investment industry. The course is made up of three progressive levels of study. Level I focuses primarily on testing investment tools, Level II on asset [...]
What the other papers say this morning January 22, 2013 FINANCIAL TIMES New hedge fund cuts fees One of the UK’s fastest-growing hedge funds is slashing fees, hoping it will spark a rethink of the industry’s high charges. The Core Macro fund from Cambridge-based Cantab Capital will employ similar trading strategies as funds from Man Group, Winton Capital and BlueCrest, three of the world’s biggest [...]
Resolution taps ex-Stan Chart boss to be chair January 21, 2013 FORMER Standard Chartered chief executive Sir Malcolm Williamson is set to become chairman of insurance buy-out vehicle Resolution, it was announced yesterday. Williamson, 73, will succeed Mike Biggs, who is stepping down as part of a plan to streamline the complicated executive structure at the FTSE 100 group, which was founded by industry pioneer Clive Cowdery in [...]
Auditors: like for like sales distort outlook January 14, 2013 AUDITORS today warned against the retail sector’s “over-reliance” on like-for-like trading figures, saying they are not always consistent nor directly linked to profitability. Like-for-like sales are a key measure used by retailers that strips out of the effects of expansion, shop closures and other distorting events to help investors better understand how the underlying business [...]
Profit-taking cannot halt FTSE as it hits highest close since May 2008 January 10, 2013 BRITAIN’S top share index closed above the 6,100 resistance level for the first time since 22 May 2008, yesterday, recovering from a late wobble after a choppy trading session. The FTSE 100 index was up 2.86 points, or 0.1 per cent, at 6,101,51, having seen some late profit-taking erased in the closing auction, but the [...]
StanChart to hit record profits despite US woe January 9, 2013 STANDARD Chartered has overcome its regulatory troubles comprehensively and is on track to record a tenth consecutive year of record profits, analysts predicted yesterday. The bank was hit by surprise accusations of breaking US sanctions on Iran last August, paying US authorities more than $600m (£374.5m) to settle the claims. But analysts expect a better [...]