Technology shares push Wall St lower July 12, 2012 US stocks edged lower yesterday, led by technology shares, while diminished chances of monetary stimulus from major central banks prompted investors to shy away from risky assets. The Dow briefly moved into positive territory in sync with Procter & Gamble’s advance, with the blue-chip average bouncing off technical support at 12,500, analysts said. The S&P [...]
Regulatory hurdles for the UK financial sector to consider June 27, 2012 THE Olympics Delivery Authority (ODA) predicts 20m trips by spectators during London 2012, including some 3m on the busiest day. The resulting inevitable transport chaos is prompting businesses and employees to look closely at how best to keep operating efficiently, in particular working from home. Many financial services sector staff work in Docklands and the [...]
Peterson: I’m not a cheat and won’t hand back Khan belts May 16, 2012 AMERICAN boxer Lamont Peterson has rejected Amir Khan’s calls for him to return his WBA and IBF light-welterweight titles to the Englishman. Khan made the demand after their scheduled rematch, which had been due to take place on Saturday, was called off following Peterson’s failed drug test. Peterson insists he is not a cheat and [...]
The paradox at the heart of the Bank of England is now clear for all to see July 3, 2012 THERE is a contradiction at the heart of the Bank of England, which may be laid bare today. It is this: the Bank is above the markets and yet intimately involved in them. The twin spheres – Sir Mervyn King’s lofty world of monetary policy and econometrics and his deputy Paul Tucker’s world of market-makers, [...]
BANKS GO UNDER THE MICROSCOPE July 2, 2012 DAVID Cameron yesterday announced two wide-ranging inquiries into the banking system, pledging to probe the “culture and standards of the industry and bring those responsible for fixing the Libor interest rate to justice”. “The British people want to see bankers who acted improperly punished,” Cameron told the House of Commons. The news came soon after [...]
CITY MOVES | WHO’S SWITCHING JOBS June 14, 2012 iCon Infrastructure Iain Macleod has been appointed as a partner at the investment firm, effective July 2012. He joins iCon’s private institutional European infrastructure team from Deutsche Bank, where he served as head of transportation and infrastructure for Europe, Middle East and Africa, and head of mergers and acquisitions for Asia. International Standard Asset Management [...]
Shells scrambles to pay off $1bn Iran oil debt March 26, 2012 Royal Dutch Shell is struggling to pay off $1bn that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said. Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, [...]
Royal Dutch Shell has $1bn debt to Iran March 25, 2012 ROYAL Dutch Shell is struggling to pay off $1bn (£630m) that it owes Iran for crude oil because European Union and US financial sanctions now make it almost impossible to process payments. The oil major owes a large sum to the National Iranian Oil Company for deliveries of crude, with one putting the figure at [...]
S&P lowers Argentina outlook April 23, 2012 ● Ratings agency Standard & Poor’s lowered its outlook for Argentina’s sovereign debt rating last night in response to the country’s renationalisation plans. S&P said the South American nation’s “abrupt” seizure of oil group YPF underscores “the weakening system of checks and balances” in its government. The agency now has a negative outlook on Argentina’s highly [...]
Video tech not ready for start of next season April 16, 2012 GOAL-LINE technology is unlikely to be in place by the start of next season even if it is given worldwide approval in July. Juan Mata’s phantom goal for Chelsea in Sunday’s FA Cup semi-final has increased calls for video replays, with Tottenham’s Emmanuel Adebayor saying avoidable refereeing mistakes were “killing” the game. The Football Association [...]