OFFICE CHIC GETS A SPORTING MAKEOVER February 9, 2010 HERE in the City, we are used to enjoying state-of-the-art office luxury, so it always comes as a surprise when a landlord manages to offer something quite out of the ordinary when it comes to luring in the tenants. David Saul, the managing director of serviced office firm Business Environment, is no stranger to bizarre [...]
Seligman joins BG?Group board December 3, 2009 Oil and gas giant BG Group yesterday said Mark Seligman had been appointed as a non-executive director at the company, with immediate effect. Seligman is currently senior advisor to Credit Suisse. He is the ex-chairman of UK investment banking at Credit Suisse and a former member of the bank’s global investment banking executive board. A [...]
CITY BROKER ISN’T JUST HORSING AROUND WITH NEW POLO VENTURE March 3, 2010 IT’S SET to be a good year for Daniel Fox-Davies, the jovial boss of City stockbroker Fox-Davies Capital. Foxy, you see, is a bit of a dark horse when it comes to his extra-curricular hobbies – along with running his oil and gas-focused brokerage, he spends much of his free time flying jets and helicopters, [...]
Neighbourly handout helps global markets December 14, 2009 MARKETS breathed a sigh of relief yesterday after news of Abu Dhabi’s $10bn (£6bn) lifeline to Dubai. The Dubai stock exchange closed more than 10 per cent higher while the Abu Dhabi market climbed nearly eight per cent. European and US stock markets also rose. UK banking shares rallied on the news as investors’ worries [...]
Technical signs point to dollar domination over the euro February 16, 2010 THE latest revelation in the Greek debt saga is that investment banks on Wall Street helped Greece and other southern European economies to move some of their debt off of their balance sheets through the use of securitisation and swaps over the past 15 years. This allowed them to reduce their official budget deficit figures [...]
Barclays ends final salary pension plan June 3, 2009 BARCLAYS told staff yesterday that it is to close its final salary pension scheme, prompting a furious response from unions, who accused the bank of stabbing its employees in the back. The bank said it was closing the scheme as a result of the mounting cost of financing pensions for some 18,000 staff. Members of [...]
Barclays ends final salary pension plan June 3, 2009 BARCLAYS told staff yesterday that it is to close its final salary pension scheme, prompting a furious response from unions, who accused the bank of stabbing its employees in the back. The bank said it was closing the scheme as a result of the mounting cost of financing pensions for some 18,000 staff. Members of [...]
Foreign banks urged to lend to UK firms December 7, 2009 FOREIGN banks were yesterday asked to provide billions of pounds in loans to cash-strapped small businesses at a secret meeting with chancellor Alistair Darling and business secretary Lord Mandelson. The government lobbied senior executives from Goldman Sachs, Deutsche Bank, JP Morgan Chase, UBS, and BNP Paribas at a covert meeting in a bid to get [...]
Market rally is a positive for Rathbone January 7, 2010 RATHBONE Brothers yesterday reported a 25 per cent increase in funds under management for 2009 as buoyant equity markets repaired the damage done in the depths of the recession. Total assets under management climbed to £13.1bn in December, up from £10.5bn a year earlier in the wake of the Lehman Brothers collapse. The 268-year-old firm [...]
Myners set to examine bank profitability November 29, 2009 CITY minister Lord Myners will delve deeper into how investment banks are generating a crop of bumper profits next month, after highlighting concerns that they may have been generated unfairly as a result of taxpayer bailouts or taking advantage of market chatter. Myners will stop short of launching a full-scale official investigation but will return [...]