CITY MOVES | WHO’S SWITCHING JOBS May 18, 2010 RWC Partners The asset manager has hired Schroders fund managers Nick Purves (pictured) and Ian Lance. Purves and Lance will manage both value and income funds at RWC, building on their track record with the Schroder UK Equity Income Fund, the best-performing fund in the IMA UK equity income sector over the past five years. [...]
US data set to give clues on economic outlook June 13, 2010 US stock investors will keep a close eye on Europe this week, looking for signs the debt crisis may be stabilising, while industrial production, housing starts and inflation data may offer more clues on the US economic outlook. On Friday, an official said the European Union has reached agreement with Greece on how to move [...]
The real game is emerging markets June 27, 2010 IT is always tempting to build grand theories about national decline following the kind of thrashing meted out to England yesterday afternoon. This should be resisted; Germany v Britain makes great sport but little else. We may not be any good at football right now – and Fabio Capello needs to be sacked – but [...]
How Osborne’s budget affects the housing market June 24, 2010 THERE are not many ways to make a 10 per cent tax hike look business-friendly, but Chancellor George Osborne pulled off a neat trick this week by doing just that. Expectations of a massive capital gains tax (CGT) rise had been building since the Liberal Democrats, who had promised to raise CGT to close to [...]
City gives lukewarm thumbs up to Osborne’s plan June 22, 2010 CITY stalwarts displayed cautious approval in the wake of the emergency Budget yesterday, as the chancellor’s plans settled some nerves over UK spending. CBI director-general Richard Lambert said the five-year route map for corporation tax “provides much-needed consistency and certainty”, which combined with proposals on foreign profits and intellectual property could reverse the tide on [...]
Numis profits soar threefold May 5, 2010 INVESTMENT banking and stockbroking group Numis has played a blinder over the first half of the year, raking in profits that were well over three times higher than those it recorded over the same period in 2009. Numis said it had attracted 15 new corporate clients over the first half, bringing its total to 126 [...]
These cuts should have gone further May 24, 2010 THE build-up to the election saw all of the major parties arguing over when to start cutting public spending. Straight away, some said. This year is too early, we could put the recovery at risk, others replied. What we didn’t hear was how they would cut spending. The new coalition is right to think that [...]
CITY MOVES | WHO’S SWITCHING JOBS May 5, 2010 Advent International The private equity firm has hired Kevin Beeston, the outgoing chairman of Serco Group, as an operating partner. Beeston will be tasked with helping Advent identify investment opportunities in the business services sector, and will also continue in his role as chairman of Advent’s portfolio company Domestic & General. He has worked for [...]
German ban shows danger of unilateral action May 31, 2010 FOR many months I, along with everyone else in the financial services industry, have been warning the UK government that we should not lead on regulatory reform without a clear idea of what is to be achieved and what is being planned elsewhere. The dangers of unilateral action were clearly demonstrated when Germany decided to [...]
Hedge funds pile into financials April 11, 2010 Hedge funds are on the verge of becoming net buyers of financial shares for the first time in several years, according to research from Swiss bank UBS. Market strategist Karen Olney said long/short funds were buying into global equities at their fastest pace since 2007, particularly banking shares where they believed fears over tighter regulation [...]