Businesses should be planning for the scenario of a Eurozone collapse June 14, 2012 WITH Greece going to the polls on Sunday, the Eurozone crisis continues to dominate. While we are in uncharted territory – there is no legal or jurisdictional framework that allows for a euro collapse, or exit from the currency by one or more countries – businesses can assume three scenarios to set plans against: a [...]
City welcomes Vickers changes June 14, 2012 THE CITY last night breathed a sigh of relief after getting a first look at the government’s proposed banking reforms, which amend the Vickers plan to strengthen the sector, taking into account international competition and the needs of banks’ business customers. The main aim is to allow bad banks to fail safely without harming other [...]
BEST of the BROKERS April 25, 2012 ARM HOLDINGS Investec maintains its “buy” rating on the microchip maker because of good long-term prospects. The target price is static at 800p, due to the last quarter’s “uneventful” results and no catalysts on the horizon. Costs were slightly higher than expected, and foreign exchange movements have prompted a modest forecast cut for the full [...]
Credit Suisse in profit despite £1bn debt fee April 25, 2012 A RETURN to profitability for its investment bank helped Credit Suisse to narrowly avoid a loss in its first quarter despite a SFr1.5bn (£1bn) accounting charge on its own debt. The Swiss bank yesterday posted a net profit of SFr44m – a 96 per cent fall from SFr1.13bn last year – but a marked turnaround [...]
RISK ASSETS SAG WITH CENTRAL BANKS ON HOLD May 14, 2012 FX360 INVESTOR sentiment has turned less bullish over the last couple of months, with a marked pull-back in risk assets since the beginning of May. This contrasts with the sharp rally in major global stock indices, precious metals and oil that ran throughout the first quarter of this year. The current sell-off followed the news [...]
How to end the euro : One Wolfson prize finalist reveals his proposal April 3, 2012 THE route for euro exit that I recommend requires the prior formation of a secret (and deniable) task force by either Germany alone, or (possibly) with France as a junior partner. This task force should develop a plan in which the first euro exit is the only one – with the complete abandonment of the [...]
Tullett plots a new FX platform ahead of fresh regulation March 12, 2012 TULLETT Prebon is set to launch an electronic platform for interbank currency trading in the run up to expected changes in the system of global regulation. The interdealer broker, led by City veteran Terry Smith (pictured), wants to use technology it already owns to build a foreign exchange trading platform, focused on currency derivatives at [...]
Shareholder activism is vital for a properly functioning City April 26, 2012 OWNERS of publicly listed companies need to behave as proprietors. They shouldn’t micromanage firms in which they invest – that is their executives’ jobs – but they should ratify some key decisions, including the pay of their top staff. In his 1970 polemic Exit, Voice and Loyalty, Albert O Hirschman explained that members of any [...]
The growing trend of active traders March 12, 2012 THE last 15 years or so have seen a sea change in how people manage their investments and approach financial markets. For anyone much under the tender age of 40 it’s probably taken for granted that real time prices, charts and news are all part and parcel of a trading or investing account. Of course, [...]
The growing trend of active traders March 12, 2012 THE last 15 years or so have seen a sea change in how people manage their investments and approach financial markets. For anyone much under the tender age of 40 it’s probably taken for granted that real time prices, charts and news are all part and parcel of a trading or investing account. Of course, [...]