Go-Ahead on track despite profit slump September 3, 2009 TRANSPORT group Go-Ahead said yesterday that it does not expect the economy to recover until 2011, but that its business is healthy enough to keep it on track until then. The firm, which operates bus companies and runs three London rail franchises, saw full year pre-tax profit fall 60 per cent from last year, to [...]
CITY MOVES WHO’S SWITCHING JOBS July 30, 2009 Cazenove CapitalAsset manager Cazenove Capital has appointed Marcus Gregson as non-executive director. Prior to his retirement, Gregson was the founding chief executive of HSBC Private Bank. He also held the position of managing director of private banking at Royal Trust Bank. He is currently non-executive director of a number of companies, including Sand Aire and [...]
CITY MOVES WHO’S SWITCHING JOBS September 13, 2009 Berwin Leighton PaisnerThe law firm has hired Russell Clifford as an asset finance partner and David Irving, pictured, as a director in the trusts and private tax team. Clifford, who was previously at Allen and Overy, specialises in structured asset finance, particularly rolling stock financing transations. Irving, who formerly ran a private equity and real [...]
CITY MOVES WHO’S SWITCHING JOBS September 13, 2009 Berwin Leighton PaisnerThe law firm has hired Russell Clifford as an asset finance partner and David Irving, pictured, as a director in the trusts and private tax team. Clifford, who was previously at Allen and Overy, specialises in structured asset finance, particularly rolling stock financing transations. Irving, who formerly ran a private equity and real [...]
US shares slide on bank sector fears August 11, 2009 US stocks fell yesterday after a prominent banking analyst warned the sector’s fundamentals have yet to improve, and an unexpectedly large drop in wholesale inventories raised worries about an economic recovery. Financial stocks, which had gained about 25 per cent in the last month, tumbled after Rochdale Securities analyst Richard Bove painted a gloomy outlook [...]
UNCERTAINTY MAKES FOR EDGY TRADERS September 23, 2009 GEORGE TCHETVERTAKOVHEAD OF MARKET RESEARCH, ALPARI UK Over the past few weeks, market participants have been quick to price in monetary policy tightening in response to resurgent stock markets, buoyant macroeconomic indicators and strong sentiment across the developed world. Policy divergence or even policy “desynchronisation” whereby policy tightening is carried out at different rates, could [...]
CITY MOVES Who’s switching jobs August 10, 2009 TravelodgeThe hotel chain has appointed Charlie Herbert as its new e-commerce director. Herbert has been working at the group on a consultancy basis since March. In his new role, he will sit on the executive team and report directly to UK managing director Guy Parsons. He has previously worked with a number of top consumer [...]
CITY MOVES Who’s switching jobs August 10, 2009 TravelodgeThe hotel chain has appointed Charlie Herbert as its new e-commerce director. Herbert has been working at the group on a consultancy basis since March. In his new role, he will sit on the executive team and report directly to UK managing director Guy Parsons. He has previously worked with a number of top consumer [...]
Visa’s earnings leap 73 per cent July 29, 2009 VISA reported better-than-expected quarterly earnings yesterday, as the world’s largest credit card network sold its stake in Brazil’s VisaNet, trimmed expenses and consumers used their cards more. Net income rose 73 per cent to $729m (£446m) for the third quarter. But in a bid to conserve cash the company adjusted its estimate of capital expenditure [...]
Moody’s: Credit quality diving August 12, 2009 THE QUALITY of credit in Western Europe continued to deteriorate sharply in the second quarter, with a record-breaking 122 financial institutions downgraded, according to Moody’s. The ratings giant said the deterioration continued to hit most major economies in the region. In total, 177 bonds were downgraded, amid fears that companies may struggle to maintain repayments [...]