Bottom Line: Airline’s allocated seats prove well-suited to corporate flyers July 24, 2013 AS WELL as yet another profit upgrade, EasyJet yesterday unveiled its new cabin crew uniforms. Long gone are the vivid polo shirts; some of the sober grey suits in the range could almost, almost pass muster in the Square Mile. The City has in recent days sent shares in EasyJet up and down more often [...]
China’s false stability could soon be exposed as its growth model creaks July 24, 2013 CHINA is widely considered to be the twenty-first century’s emerging economic leader. Global financial interests are betting that its state-directed economic model will overtake the liberal capitalism of the debt-ridden West. But is this the case? Leaders in Beijing have a slightly different view of their economy. China is devouring land, labour and capital in [...]
Before the open – 24/07 July 24, 2013 We're expecting a muted start to European markets after China saw some grim manufacturing data overnight. HSBC's manufacturing PMI saw 11-month lows, at just 47.7, implying that the contraction in the sector is accelerating. $FTSE flat on open despite weaker Chinese Manufacturing Data. UK – ARM 2Q rev sales in line. $BLND IMS, $KGF lfl [...]
What the other papers say this morning – 24 July 2013 July 23, 2013 FINANCIAL TIMES Ex-HSBC banker in frame for RBS job Mark McCombe, a veteran banker with 20 years experience at HSBC, has emerged as the leading external candidate to be the next chief executive of RBS according to people close to the process. Mr McCombe, a Briton who has spent the past year running the Asian [...]
Telefonica pays £7bn for E-Plus phone network July 23, 2013 TELEFONICA, the company behind O2, yesterday agreed to buy a German mobile phone network for €8.1bn (£6.96bn) in a deal that could herald a new wave of industry consolidation. The Spanish communications giant will take control of E-Plus from Dutch group KPN for €5bn in cash and a further €3.1bn in shares. Although the deal still [...]
What the other papers say this morning – 22 July 2013 July 21, 2013 FINANCIAL TIMES Deutsche Bank set to shrink Deutsche Bank plans to shrink its vast balance sheet by as much as a fifth in order to comply with incoming stricter rules for financial soundness. In a big strategic step by Germany’s largest lender by assets, Deutsche is expected to tell investors that it aims to achieve [...]
City Moves for 22 July 2013 | Who’s switching jobs July 21, 2013 Carey Group The financial services company has appointed Joe Truelove as a director in its fund administration business. He was most recently at Kleinwort Benson, where he was head of business development for the fund administration sector. HSBC The bank has recruited Luiz Simione as global head of forfaiting and risk distribution for global trade [...]
Emerging financial centres to watch for a future career July 19, 2013 AS THE world’s leading financial centre, London is one of the best places in the world to work in finance. The Global Financial Centres Index (GFCI) 2013 gives London a rating of 807 – far ahead of rivals New York (787) and Hong Kong (761).But more cities are making their mark, and Richie Holliday of Morgan [...]
Inside track: When banks become unwelcome investors in property July 18, 2013 TWO INVESTMENT banks, Goldman Sachs and Deutsche Bank, will for the next few months be keeping a beadier eye than usual on the German property market. The pair have just emerged as holding a combined stake of around 13 per cent in Gagfah, the second-largest owner of German homes, as a consequence of not being [...]
Help is at hand for the Square Mile romantics July 18, 2013 BUSY City workers often employ the services of a concierge to help organise their daily lives. However, one City boy from HSBC has taken hired help to a new level – employing two women to help him propose to his girlfriend. David Bossart enlisted the services of professional proposals service duo Daisy and Tiffany to help [...]