EARNINGS SEASON | CALENDAR August 1, 2010 Monday 2 August Xchanging – UK Thomas Cook – UK Hammerson – UK Tullett Prebon – UK HSBC – UK Intertek – UK Mouchel – UK Qinetiq – UK Berkshire Hathaway – US Warner Music Group – US Linde – Germany BNP Paribas – France Air Liquide – France Tuesday 3 August ITV – UK [...]
What now? Prepare for the next crisis July 28, 2010 PREDICTING the future can be a notoriously tricky business. If people declare with certainty that things will happen, they often don’t. While things that no one saw coming have a horrible habit of actually happening. The Asian financial crisis in 1997 came as everyone was talking about an “Asian economic miracle”, while the most recent [...]
Cenkos founder resigns July 20, 2010 ONE OF the City’s best known stockbroking veterans hung up his braces yesterday after 40 years in the industry. Andy Stewart said he had resigned as non-executive deputy chairman of Cenkos, the broker he founded in 2005, with immediate effect. He did not give a reason for the move, but had already stepped down from [...]
Temasek set to sell first sterling bonds July 19, 2010 Singapore state investor Temasek Holdings will soon sell sterling-denominated bonds for the first time in a move aimed at diversifying its funding sources. Temasek has hired UBS, Deutsche Bank, HSBC and RBS to sell the bonds, according to a note sent to fund managers yesterday by one of the investment banks. Temasek plans a benchmark [...]
FAIRFAX CO-FOUNDER CRAWFORD ON THE HUNT FOR A NEW INVESTOR July 19, 2010 IS A changing of the guard in the offing down at boutique investment bank Fairfax? I hear that Rolly Crawford, who co-founded the firm back in 2006, is on the lookout for a new major investor to take Fairfax forward in its ambitions. A number of interested parties have already been sounded out about the [...]
Obama’s reforms at a glance July 15, 2010 SYSTEMIC RISK A council of regulators chaired by the secretary of the Treasury would be created to monitor big-picture risks in the financial system. The Financial Stability Oversight Council could identify firms that threaten stability and subject them to tighter oversight by the Federal Reserve. The Fed and the council could break up firms that [...]
THOUSANDS TURN OUT FOR GREAT CITY RACE July 15, 2010 THAT time of year seems to have crept up on us again, when thousands of City runners take to the streets for the most popular race of the year – the Standard Chartered Great City Race. After a chilly, blustery day, the sun finally came out to shine on the gathered throng, who signed up [...]
THOUSANDS TURN OUT FOR GREAT CITY RACE July 15, 2010 THAT time of year seems to have crept up on us again, when thousands of City runners take to the streets for the most popular race of the year – the Standard Chartered Great City Race. After a chilly, blustery day, the sun finally came out to shine on the gathered throng, who signed up [...]
A SUITABLY SPIRITED SENDOFF TO SIR STUART July 14, 2010 WE’LL begin by heading over to the Royal Festival Hall for Marks and Sparks’ annual general meeting, where the usual fun and games were to be had. Hundreds of ageing M&S veterans queued up for the speeches, stage antics and free food and drink, armed with piercing questions for Sir Stuart Rose and his successor, [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2010 HSBC Private Bank The bank has appointed three associate directors to its high net worth team. Simon Gamse has over 28 years of experience, including working for Merrill Lynch, Goldman Sachs and Barclays Wealth. Jonathan Reed joins from Seven Investment Management, while Paul Avant (pictured) returns to London to take up his new position, having [...]