Anti-banker populism is backfiring November 16, 2010 THIS is turning out to be a decent year for the global investment banking industry, despite weaker trading results and even though some firms are doing better than others. True, Wall Street’s total profitability – as defined by the broker-dealer operations of New York Stock Exchange members – will collapse 69 per cent this year [...]
Insurance head quits HSBC role February 23, 2010 HSBC head of insurance, Clive Bannister, plans to step down at the end of March and will be replaced by Asia boss David Fried, in fresh evidence the bank’s focus is increasingly shifting to the east. Bannister, who took the helm of the insurance business in November 2006, was previously chief executive of HSBC’s private [...]
Cracks start to appear in the coalition over business plans September 20, 2010 THE two sides of the coalition look set to clash over a string of key business issues, according to a British Chamber of Commerce (BCC) survey of MPs. One potential battleground is the forthcoming appointment of outgoing HSBC chairman Stephen Green as full-time trade minister. Around 62 per cent of Tories are in favour of [...]
HEDGIES FORK OUT FOR CHARITY AS LORD ARCHER HOSTS THE AUCTION December 13, 2010 HEDGE fund philanthropists had one of their biggest galas of the year this past weekend, thanks to a fundraiser by Hedge Fund Care, a fund chaired by Robert Mirsky that makes grants to charities fighting child abuse and neglect. 400 or so of the industry’s finest donned their finest blacktie and arrived for a three-course [...]
HEDGIES FORK OUT FOR CHARITY AS LORD ARCHER HOSTS THE AUCTION December 13, 2010 HEDGE fund philanthropists had one of their biggest galas of the year this past weekend, thanks to a fundraiser by Hedge Fund Care, a fund chaired by Robert Mirsky that makes grants to charities fighting child abuse and neglect. 400 or so of the industry’s finest donned their finest blacktie and arrived for a three-course [...]
PM’s trade targets missing the point November 9, 2010 TRADE missions look good on TV but in reality are little more than an expensive distraction. They allow politicians, including David Cameron, to travel to China, a bevy of CEOs in tow, and to take the credit for contracts and deals. Nearly all of these would have happened without the PM’s help; unfortunately, he appears [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 24, 2010 FINANCIAL TIMES TOYOTA STILL ON ALERT AFTER CRISIS Toyota remains on a “crisis” footing a year after the first of a wave of recalls of more than 12m vehicles, an executive at the Japanese carmaker has said. Shinichi Sasaki, the board member responsible for quality, told the Financial Times: “I don’t think the crisis is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 24, 2010 FINANCIAL TIMES TOYOTA STILL ON ALERT AFTER CRISIS Toyota remains on a “crisis” footing a year after the first of a wave of recalls of more than 12m vehicles, an executive at the Japanese carmaker has said. Shinichi Sasaki, the board member responsible for quality, told the Financial Times: “I don’t think the crisis is [...]
Fears over consumer climate send retailers and FTSE down November 3, 2010 BRITAIN’S top share index closed lower yesterday, with retailers weak as Next posted falling sales, while banks gained ground after Lloyds Banking Group poached Santander UK’s head as its new CEO. Investors were reluctant to take big positions ahead of a Federal Reserve decision on further monetary policy easing later yesterday. Markets are pricing in [...]
Lloyds sees its recovery start to slow November 2, 2010 LLOYDS Banking Group shares yesterday lost more momentum after a muted third-quarter interim statement which indicated that the group’s progress towards its objectives has slowed compared to the first half of the year. In an update notably thin on numerical detail, Lloyds said it delivered “good underlying income growth…[and] lower costs through continued strong integration [...]