Germany and France slam hedgie rules September 29, 2010 FRENCH economy minister Christine Lagarde looks set to dash hopes of an imminent deal on EU hedge fund rules when she meets finance ministers in Brussels this week, diplomats with direct knowledge of the matter said yesterday. France’s refusal to back a “passport” scheme that would allow foreign funds to do business across all of [...]
Omega board faces coup January 3, 2010 OMEGA Insurance is under increasing pressure to replace the directors of its board after Invesco Perpetual, its largest shareholder, secured the backing of other investors to request a special general meeting. Neil Woodford, Invesco’s star fund manager, wants to oust Walter Fiederowicz and replace him with former Benfield man John Coldman as chairman of the [...]
The Square Mile’s retail revolution September 27, 2010 IN the thrust and frenzy of City life, it’s crucial to have somewhere you can take yourself for a bit of quiet repose, if only while you wolf down a sandwich at lunchtime. Problem is, such spaces are rather thin on the ground in the Square Mile – but in a month’s time, one of [...]
Earthquake, rig explosion and windstorm curb Chaucer profits August 26, 2010 THE Chilean earthquake, Deepwater Horizon oil rig disaster and European windstorm Xynthia conspired to cut interim profits at Chaucer Holdings by 59 per cent to £7m. Shares in the Lloyd’s of London insurer fell 2.2 per cent to 45p yesterday as it said “an unprecedented level of catastrophes” and a slump in investment performance meant [...]
Earthquake, rig explosion and windstorm curb Chaucer profits August 26, 2010 THE Chilean earthquake, Deepwater Horizon oil rig disaster and European windstorm Xynthia conspired to cut interim profits at Chaucer Holdings by 59 per cent to £7m. Shares in the Lloyd’s of London insurer fell 2.2 per cent to 45p yesterday as it said “an unprecedented level of catastrophes” and a slump in investment performance meant [...]
PERSONAL FINANCE NEWS September 16, 2010 HALF OF WOMEN WITHOUT A PENSION Almost half of all British women of working age do not have any pension provision, a study conducted by Baring Asset Management showed earlier this week. The total number of women who have yet to retire without a pension is increasing year-on-year. Equally shocking, a fifth of all working [...]
Unilateral rule making will harm City September 20, 2010 PERCHED at a regulatory crossroads, the government is on the verge of decisions that will shape the UK economy’s competitiveness for generations to come. That much was clear from the opening day of the City Week financial services forum yesterday, where financial services doyens united in a call to policymakers to think long and hard [...]
Final Lloyd’s of London firm set to leave the FTSE 100 June 9, 2009 FTSE INTERNATIONAL is expected to confirm tonight that Amlin will be demoted from the FTSE 100, the last Lloyd’s of London insurers to leave the index. Based on last night’s share prices, pub company Whitbread and power station operator Drax Group are likely to join the insurer on the FTSE 250. Predicted to move back [...]
THE CAPITALIST October 11, 2010 ONCE more, the hedge fund community unites for a good cause – this time not by shelling out enormous sums of money while being wined and dined at a charity gala dinner, a la Arki Busson, but by writing a book designed as a warning to policymakers all over the globe. Tonight will see swanky [...]
DO-GOODING HEDGE FUND AUTHORS STRIP MEAT OFF MERVYN’S BONES October 14, 2010 FOLLOWING on from The Capitalist’s coverage of the launch of The Gathering Storm – a compilation of essays by hedgies, with all proceeds going to charities chosen by the writers – the book’s august authors gathered yesterday for cucumber sandwiches and wine at the Centre for the Study of Financial Innovation. As the discussion galloped [...]