Hoarding gold bars can cost you a pretty penny October 20, 2010 THERE is a story that John Maynard Keynes once messed up when speculating on wheat futures. Instead of buying at a low price and selling higher, without ever having to take delivery of the wheat, he was caught out: the market went the wrong way. The Cambridge academic rushed to sort out storage for dozens [...]
China’s first interest rate rise since 2007 drags FTSE down October 19, 2010 China’s first interest rate rise since 2007 hit mining shares and dragged the FTSE 100 lower yesterday, offsetting gains from banks after solid results from Bank of America and Goldman Sachs. At the close, the FTSE 100 index was down 38.63 points, or 0.7 per cent at 5,703.89, having earlier dipped below the 5,700 level [...]
Banks threatening to quit UK over new plans September 26, 2010 FOR SOME time now, the City of London has warned of a “tipping point” – a point in time where the benefits of being based in the UK no longer outweigh the tax and regulatory burden. Many commentators have dismissed this warning as an empty threat from an industry looking for a return to the [...]
Expat Expert: the power of local knowledge July 22, 2010 THANKS to globalisation and modernisation, individuals now have unparalleled levels of choice when it comes to relocation overseas. And London remains an extremely popular destination for individuals looking to experience life in another country – not only is it a hub for transport into mainland Europe and across the Atlantic, it has also retained its [...]
Expat Expert: the power of local knowledge July 22, 2010 THANKS to globalisation and modernisation, individuals now have unparalleled levels of choice when it comes to relocation overseas. And London remains an extremely popular destination for individuals looking to experience life in another country – not only is it a hub for transport into mainland Europe and across the Atlantic, it has also retained its [...]
Greece starts bank sell-off August 26, 2010 GREECE’S government took a step toward offloading its stakes in ATEbank and Hellenic Postbank yesterday when it named Deutsche Bank, HSBC and Lazard as advisers. A statement said the three investment banks would “explore and assess the Greek state’s strategic options, evaluate its holdings in the banking sector and assess the consequences of such options”. [...]
Lloyds reports £1.6bn profit August 4, 2010 LLOYDS Banking Group has reported a return to profit for the first half of the year – fuelled by a fall in the amount set aside to cover bad loans. Pre-tax profit for the six months to the end of June came in at £1.6bn, compared with a £4bn loss in the same period a [...]
HSBC chief attacks bankers’ bonuses January 25, 2010 HSBC chairman Stephen Green has launched an attack on bankers’ bonuses branding the sums they have been receiving “inflated”. He said bankers would have to accept lower payouts in the future following the furore surrounding their remuneration packages. Green, who is also chairman of the British Bankers’ Association, said: “You’ve had bonuses paid off gross [...]
FTSE ends lower in thin trade October 4, 2010 BRITAIN’S top share index closed lower in thin volumes yesterday, ahead of key macroeconomic data later in the week, with BP hit after issuing a €2bn (£1.72bn) bond to help pay for the Gulf of Mexico oil spill. The FTSE 100 ended down 0.7 per cent at 5,555.97 points, after closing up 44.28 points, or [...]
Vodafone and National Grid chairs to leave September 5, 2010 SEVERAL blue chip managers are awaiting calls from headhunters as two of the FTSE 100’s best-known chairmen prepare to step down. Vodafone has appointed City recruiter Anna Mann to seek out a replacement for Sir John Bond, who is expected to depart toward the end of next year. Bond, who has chaired the mobile phone [...]