THE LONDON REPORT June 23, 2009 The FTSE 100 closed down 0.1 per cent yesterday, falling just 4.03 points to 4,230.02 in a choppy session, with thin volumes exacerbating movements, after losing 2.6 per cent on Monday. The index has gained more than 22 per cent since hitting a six-year low in March, but is still down 4.6 per cent on [...]
IDENTITY CRISIS AT FUND VETERAN JOHN DUFFIELD’S NEW VENTURE July 9, 2009 JOHN Duffield really hasn’t been too lucky of late, has he? The veteran New Star Asset Management founder established a new venture called Hyde Park Asset Management back in April, as first revealed by yours truly, but soon had to ditch the moniker after hedge fund marketing firm Hyde Park Investment enlisted its legal heavies [...]
Best beach reads July 22, 2009 MY SOUL TO TAKE by Yrsa SigurdardottirHodder, £11.99This Icelandic thriller is cooler than most from the get go. Where else could you find a ballsy Reykjavik lawyer with little time for nonsense called upon to investigate a haunting at a plush but doomed new age hotel on the wild Icelandic coast? A gruesome murder kicks [...]
Best beach reads July 22, 2009 MY SOUL TO TAKE by Yrsa SigurdardottirHodder, £11.99This Icelandic thriller is cooler than most from the get go. Where else could you find a ballsy Reykjavik lawyer with little time for nonsense called upon to investigate a haunting at a plush but doomed new age hotel on the wild Icelandic coast? A gruesome murder kicks [...]
CITY MOVES Who’s switching jobs May 17, 2009 Bank of New York MellonThe banking group has appointed Timothy F. Kearney as its new head of global client management and chairman of Europe. Kearney will also retain his existing role as co-chief executive of BNY Mellon asset servicing, though he will relocate from New York to London to take up his new position. He [...]
CITY TRADER OFFERS GAMBLERS A FLUTTER ON A LOTTERY OF HIS LIFE June 10, 2009 REMEMBER the man who, last year, decided to mend his broken heart after a divorce by selling his entire life on eBay, house, car, job and all? Well, one enterprising City boy has decided to go one better – he’s started a competition for entrants to “win a new life”, and stands to make millions [...]
RBS rings the changes with new directors August 28, 2008 Royal Bank of Scotland announced the appointment of three non-executive directors yesterday, in a move that will intensify rumours that CEO Sir Fred Goodwin and chairman Sir Tom McKillop will soon depart the troubled bank. Stephen Hester, Arthur Ryan and John McFarlane will join the board from the beginning of October. Of the three, Hester, [...]
HBOS looks to raise private funds for help August 4, 2008 HBOS has asked investment bank UBS to raise a private investors’ fund to help it offload £400m of investments, as it looks to prop up its balance sheet and cut back on investments in troubled times for the banking sector, it emerged yesterday. The UK’s largest mortgage lender has called on UBS to create a [...]
Banks set for worst results in City history August 4, 2008 Markets brace for a raft of bad news from HSBC, Royal Bank of Scotland and others HSBC will today kick off another disappointing week of banking results as the credit crunch continues to wreak havoc in the City. HSBC is forecast to reveal $2bn-$3bn (£1bn-£1.5bn) of credit market provisions in its global markets business. Europe’s [...]
Private data sold on eBay, admit banks August 27, 2008 Account holders’ personal details have been found on a computer sold on eBay, banks said yesterday, adding to growing fears over data security. Details of more than a million customers of Royal Bank of Scotland (RBS), American Express and NatWest were found on the computer sold for £35 on the auction and shopping website. RBS [...]