Option for 2013 taper left open by Fed minutes November 20, 2013 THE RATE-setting Federal Open Market Committee left the possibility of tapering quantitative easing (QE) as soon as December on the table in its last meeting, according to minutes released yesterday. The US Fed’s FOMC said that continued improvements to the US job market would “warrant trimming the pace of purchases in coming months,” suggesting that the [...]
Elephant trekking, luxury and great Thai food September 29, 2013 This luxury beach resort was devastated by the 2005 tsunami. Now it’s back and better than ever THE PERFECT way to end an unforgettable afternoon spent trekking through the jungle trails of Khao Sok National Park in Phuket, Thailand is to give a leathery, old elephant a sunset bath. With Bauthong (lotus flower) repeatedly submerging [...]
Top funds grow assets by eight per cent in 2012 November 12, 2013 THE PILE of cash managed by the world’s biggest fund managers rose to near a pre-financial crisis peak last year, underscoring rapid change unfolding across the UK’s investing landscape. The world’s 500 biggest managers looked after $68.3 trillion (£42.7 trillion) of other people’s money at the end of last year, a rise of over eight [...]
South America’s capital of glamour July 21, 2013 With its sprawling sandy beaches, iconic landmarks and buzzing atmosphere, Rio de Janeiro is in a league of its own, says Gabriel O’Rorke WITH the World Cup and the Olympics on the horizon, Brazil is preparing to become the focus of the world’s attention. One city that is used to the limelight is Rio de [...]
New York Report: Dow ends over 16,000 for first time in history November 21, 2013 THE DOW industrials closed above 16,000 for the first time last night as stocks rebounded from three days of weakness, after economic data pointed to a slowly improving labor market and subdued inflation. Financial shares led the market to its first day of gains after three sessions of losses. Although investors remain unsure about the [...]
St James’s Place sees assets rise despite shift in pension tax policy October 24, 2013 NEW PENSIONS business at wealth manager St James’s Place (SJP) fell last quarter amid looming government changes to pension tax policy. Sales fell four per cent versus a year ago on the back of changes proposed by chancellor George Osborne to reduce the limit on how much well-heeled savers can put into a pension pot [...]
City Moves for 19 November 2013 | Who’s switching jobs November 18, 2013 Knight Frank The property company has hired Liz Crawford as an associate within its healthcare team. She was most recently at Humberts Leisure, where she was a director. Prior to that, Crawford was head of licenced and leisure at Lambert Smith Hampton. Axa Investment Management The investment management business has recruited Shajahan Alam as a solutions [...]
London Report: Bank falls stop FTSE’s nine-day winning streak October 23, 2013 THE UK’S benchmark equity index fell yesterday to end a nine-session winning streak, as a drop in heavyweight banking shares dragged the stock market down from five-month highs. Nevertheless, several traders felt any pullback would be relatively short-lived and saw the UK stock market rallying into the end of 2013. The benchmark FTSE 100 index [...]
Fitch threatens US rating as debt talks enter final day October 15, 2013 WITH just a day left until the US Treasury reaches the debt ceiling, the country’s politicians remained gridlocked last night, lacking a crucial deal to prevent a financial default. Credit ratings agency Fitch placed the country’s current AAA rating on negative watch, saying that “prolonged negotiations” over the debt ceiling undermine “confidence in the role [...]
Top spin doctors’ PR firm hit by defections over owner strategy February 25, 2013 SIGNS of exodus yesterday at M Communications, the top flight financial public relations agency founded by City veterans Nick Miles and Hugh Morrison. According to insiders, five senior people handed in their resignations, unhappy about the way the agency’s profits are being distributed. Insiders told The Capitalist last night that M, with annual revenues of [...]