Meddling with forex markets is risky October 11, 2010 ONE of the biggest problems in the City today is that so few people have worked in financial markets long enough to remember how things used to be just 25 years ago. This damaging lack of a collective memory helps to explain why so many investors remain so relaxed about the prospect of currency wars [...]
Europe’s finest have never been so dominant November 8, 2010 THIS might just be the greatest year ever for European golf. The Ryder Cup team retained their crown magnificently while the players have gone from strength to strength, as the weekend showed. Francesco Molinari, part of that triumphant dozen at Celtic Manor, continued his ascent with a thrilling victory at the HSBC Champions in Shanghai. [...]
FUND MANAGEMENT NEWS October 5, 2010 RECORD 2010 EXPECTED FOR SOME FUNDS A number of fund groups are on track for record-setting years, according to flow data provider EPFR Global. Emerging markets, US and global bond funds as well as global emerging market equity funds are likely to experience record inflows in 2010. Against a backdrop of soaring equity markets and [...]
Green tipped for coalition September 6, 2010 HSBC chairman Stephen Green could stun the City by resigning to become the coalition government’s trade minister, it was reported last night. Green has been named as the frontrunner to take up the post after months of searching by Prime Minister David Cameron. He would succeed Lord Davies, who was lured away from Standard Chartered [...]
Q & A : TAXING THE BANKS November 14, 2010 Q. HOW MUCH MONEY DOES THE GOVERNMENT EXPECT TO RAISE FROM THE BANKING LEVY? A. George Osborne wants to raise £2.5bn a year from a levy on banks’ balance sheets. Aides say he thinks this is the “maximum sustainable amount of revenue” he can extract from the banks. Q. WHAT DOES THE CHANCELLOR MEAN BY “MAXIMUM SUSTAINABLE REVENUE”? A. An aide familiar with the chancellor’s thinking [...]
Standard gets 98.5 per cent rights backing November 7, 2010 STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules. Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
BEST OF THE BROKERS October 19, 2010 LADBROKES Royal Bank of Scotland rates the betting group a “sell” with a target price of 90p. The broker says Ladbrokes is facing limited growth in betting shops as well as tighter European restrictions on internet gambling. RBS forecasts a 10 per cent growth in revenue over the next two years, but expects competition from [...]
I’ve achieved a childhood dream, beams Westwood November 1, 2010 WORLD No1 Lee Westwood admits he is revelling in his new status as the planet’s best player. The Englishman knocked Tiger Woods off top spot on Sunday, despite being sidelined by injury, and is looking forward to defending his ranking at this week’s WGC-HSBC Champions in Shanghai. “It’s a great honour and a big responsibility. [...]