Diary January 27, 2011 WALKING BOOTS ARE DE RIGEUR A score for good sense at the FT/HSBC breakfast event: six men were settled into white armchairs onstage for a panel debate yesterday, but only one man’s sensibly clad feet stood out. Gao Xiqing, president of China’s sovereign wealth fund, shunned the standard suede or polished leather business shoe. Not [...]
Diary January 27, 2011 WALKING BOOTS ARE DE RIGEUR A score for good sense at the FT/HSBC breakfast event: six men were settled into white armchairs onstage for a panel debate yesterday, but only one man’s sensibly clad feet stood out. Gao Xiqing, president of China’s sovereign wealth fund, shunned the standard suede or polished leather business shoe. Not [...]
The UK’s largest housebuilder says the road to recovery will be long December 19, 2010 PERSIMMON chief executive Mike Farley is not looking for a magic bullet. The boss of the country’s largest housebuilder is clear that the sector has endured its worst slump since World War Two and faces at least a two-year road to recovery. The industry tends to listen when Farley speaks. Not just because he runs [...]
Riley’s Daisy telecoms group hopes to reach profitability within two years December 7, 2010 TELECOMS firm Daisy Group yesterday said it hoped to break into profit by 2012 or 2013 despite reporting a first half loss of £9.8m, wider than the loss of £2.1m it booked last year. The group reported a four-fold increase in revenues to £120m but made losses because of its heavy acquisition and amortisation costs. [...]
Riley’s Daisy telecoms group hopes to reach profitability within two years December 7, 2010 TELECOMS firm Daisy Group yesterday said it hoped to break into profit by 2012 or 2013 despite reporting a first half loss of £9.8m, wider than the loss of £2.1m it booked last year. The group reported a four-fold increase in revenues to £120m but made losses because of its heavy acquisition and amortisation costs. [...]
City reacts to new FSA remuneration code December 17, 2010 FINANCIAL services firms are now subject to the world’s toughest bank bonus curbs after City regulator the Financial Services Authority published its new remuneration code. But the new rules, which will affect 2,700 financial firms in the UK from January, will not be binding for many smaller institutions and more specialist financiers. The new code [...]
City reacts to new FSA remuneration code December 17, 2010 FINANCIAL services firms are now subject to the world’s toughest bank bonus curbs after City regulator the Financial Services Authority published its new remuneration code. But the new rules, which will affect 2,700 financial firms in the UK from January, will not be binding for many smaller institutions and more specialist financiers. The new code [...]
Why 2011 won’t be too bad after all January 3, 2011 FORECASTING may be a mug’s game but it is unavoidable at this time of the year. So here are a few of my predictions for 2011, together with some key themes to look out for and some lessons from last year. I was right to be sanguine about 2010’s UK growth prospects; the daily warnings [...]
What the other papers say this morning February 6, 2011 FINANCIAL TIMES GOLDMAN CASH STAGNATES AS ASSET PRICES RISE Goldman Sachs’ attempt to spend some of its $170bn (£106bn) excess capital on loans, real estate and other distressed assets is being hampered by a prolonged rebound in risk appetite that has lifted prices on many would-be bargains. Goldman’s “excess liquidity”, or cash deposits and securities [...]
Greece approves new austerity package amid downgrade threats December 22, 2010 GREEK lawmakers last night approved a 2011 austerity budget that imposes yet more cuts on the nation, hours after thousands took to the streets shouting “We can’t take it anymore.” The bill targets a budget deficit of 7.4 per cent of GDP next year, down from about 9.4 per cent this year, through more spending [...]