Stelios rants as Michels exits easyJet May 23, 2011 SIR DAVID Michels, the former Hilton chief executive who once hoped to chair Marks & Spencer, said he would step down from the board of easyJet yesterday in his second such announcement in a month. Michels, easyJet’s deputy chairman, will leave the airline at the end of this year, when he completes his second three-year [...]
Strong miners give FTSE a boost May 26, 2011 STRENGTH in heavyweight mining stocks helped Britain’s top share index edge higher yesterday, countering slippage by banks on Eurozone debt concerns. At the close, the FTSE 100 was up 10.9 points, or 0.2 per cent at 5,880.99, well below a morning spike above the psychologically important 5,900 level to 5,910.77. “The overall impression … is [...]
Europe’s debt disease threatens contagion June 27, 2011 THE Eurozone’s banks look perilously weak. Regulatory uncertainty and the Greek debt disaster present a bleak outlook. While the UK’s banks are much stronger, with less direct exposure to Greece, they too would be affected by a larger Eurozone implosion. Yet even if things go bad, there are opportunities for traders in Contracts for Difference [...]
John Nelson named new Lloyd’s chairman April 18, 2011 Lloyd’s of London has named John Nelson, a long-time City financier and chairman of real estate developer Hammerson, as its incoming chairman to replace Lord Levene. Nelson, a chartered accountant and corporate financier with Kleinwort Benson and Lazard, was chairman of Credit Suisse First Boston Europe from 1999 to 2002. He has since moved to [...]
FTSE tumbles as Greek crisis prompts flight from equities June 16, 2011 BRITAIN’S top shares fell sharply yesterday as fears over the global recovery and a contagion impact from the Greek debt crisis prompted investors to sell out of riskier assets such as commodity stocks. The FTSE 100 ended down 43.74 points, or 0.8 per cent, at 5,698.81, back at levels last seen after the Japanese earthquake, [...]
Labelux ties up Jimmy Choo shoe deal for £500m May 22, 2011 LABELUX luxury goods group yesterday announced the acquisition of Jimmy Choo, the upmarket shoe brand. Labelux was founded by Austria’s Benckiser family in 2007 with the aim of creating a significant new global player in the expanding luxury goods sector. Its existing portfolio includes Swiss luxury shoe brand Bally, acquired in 2008, and Italian accessories [...]
Helicopter company is latest Russian to seek London float April 12, 2011 STATE controlled JSC Russian Helicopters yesterday confirmed its intention to raise $500m (£308m) in a joint flotation in London and Moscow. The offering is expected to consist of the sale of existing shares, primarily by the firm’s major shareholder Oboronprom, as well as up to $250m of primary shares in the form of Global Depository [...]
FTSE pushes up despite retail sector woes March 31, 2011 A raft of corporate results today has the potential to move the FTSE in either direction, but it is picking an upward path this morning. Mixed UK economic data has clouded the picture further. The GfK consumer confidence index has stalled at February’s low level on households’ concerns over their finances. Nationwide, however, said house [...]
FTSE pushes up despite retail sector woes March 31, 2011 A raft of corporate results today has the potential to move the FTSE in either direction, but it is picking an upward path this morning. Mixed UK economic data has clouded the picture further. The GfK consumer confidence index has stalled at February’s low level on households’ concerns over their finances. Nationwide, however, said house [...]
FUND MANAGER OF THE YEAR | The Shortlist day nine June 29, 2011 Institutional investors play a critical role across the spectrum of corporate life and wealth generation in the UK. From generating households’ pension or life insurance income, to ensuring companies maintain the highest standards of corporate governance, their decisions are vital. In an increasingly globalised and competitive world, the City’s investment managers have proved themselves innovative, [...]