Summer of discontent looms over bonuses May 20, 2009 A SUMMER of discontent over the pay of top executives looked more likely last night, as pressure groups urged shareholders to reject plans to pay vast bonuses for under-performance. Bailed-out bank Lloyds Banking Group and telecoms giant Cable & Wireless are next in the firing line over pay, as both have impending shareholder meetings that [...]
&65279;’GOD’S WORK’ GOLDMAN SETS ITS SIGHTS ON THE SALVATION ARMY November 22, 2009 JUST when we thought Goldman Sachs couldn’t get any more holier-than-thou, up pops a gem to prove us all wrong. Just weeks after chief executive Lloyd Blankfein claimed his army of smartly-dressed minions were “doing God’s work”, it now appears that a raft of the bank’s staff in New York have signed up to be [...]
Defensives beat a retreat as investors hedge their bets June 9, 2009 THE FTSE 100 ended flat yesterday, with commodity stocks tracking gains in raw material prices as the dollar eased but cigarette makers and pharmaceutical companies fell. The index closed down by 0.43 points at 4,404.79 in a choppy session, after losing 1.2 per cent on Monday. The weaker dollar boosted metal prices, which in turn [...]
THE LONDON REPORT June 23, 2009 The FTSE 100 closed down 0.1 per cent yesterday, falling just 4.03 points to 4,230.02 in a choppy session, with thin volumes exacerbating movements, after losing 2.6 per cent on Monday. The index has gained more than 22 per cent since hitting a six-year low in March, but is still down 4.6 per cent on [...]
RESOLUTION EYES UP LLOYDS ASSETS May 20, 2009 CLIVE Cowdery’s Resolution was put on high alert yesterday after Lloyds Banking Group signalled it may be forced by the European Commission to dispose of assets, reopening the possibility of the buyout vehicle purchasing part or all of Scottish Widows and Clerical Medical. A source familiar with the situation said yesterday that Resolution could be [...]
RESOLUTION EYES UP LLOYDS ASSETS May 20, 2009 CLIVE Cowdery’s Resolution was put on high alert yesterday after Lloyds Banking Group signalled it may be forced by the European Commission to dispose of assets, reopening the possibility of the buyout vehicle purchasing part or all of Scottish Widows and Clerical Medical. A source familiar with the situation said yesterday that Resolution could be [...]
Heritage Oil slips as market talk fuels some profit taking June 10, 2009 THE large cap index gained nearly one per cent, or 31.96 points, higher yesterday at 4,436.75, driven by gains in mining and energy stocks, while banks rose on growing investor confidence. Mid cap Heritage Oil lost some of its recent gains, dropping nearly 11 per cent to 540p, amid profit-taking and some speculation that its [...]
Heritage Oil slips as market talk fuels some profit taking June 10, 2009 THE large cap index gained nearly one per cent, or 31.96 points, higher yesterday at 4,436.75, driven by gains in mining and energy stocks, while banks rose on growing investor confidence. Mid cap Heritage Oil lost some of its recent gains, dropping nearly 11 per cent to 540p, amid profit-taking and some speculation that its [...]
MARTHA LANE FOX REVEALS SHE COULD HAVE BEEN A PRISON GUARD July 15, 2009 GORDON Brown’s new digital inclusion tsar Martha Lane Fox has had a stellar career to date, but it’s reassuring to learn that she could happily turn her hand to something else should she tire of running Lucky Voice and charitable foundation Antigone. Because Lane Fox has revealed that, in another life, she would have been… [...]
Uncertainty will see QEand rates held October 7, 2009 QUANTITATIVE EASING (QE) and interest rates should both be kept on hold this month, according to a majority of City A.M.’s shadow monetary policy committee (MPC) ahead of the Bank of England’s decision due at midday today. While seven members voted for no change, Henderson New Star’s Simon Ward, who advocates suspending QE, argues that [...]