People don’t come here for the weather December 13, 2009 In 1733, Voltaire, one of France’s greatest thinkers, wrote a series of letters on the English nation, describing some of the extraordinary going-ons he had discovered during his exile to this country. The findings scandalised many of his French readers, then a truly statist and anti-capitalist nation. “Go into the London Stock Exchange – a [...]
JPMorgan eats up 1bn Caz leftovers November 18, 2009 US INVESTMENT bank JPMorgan Chase & Co is expected to seal its £1bn buyout of the remainder of Cazenove today. JPMorgan will pay around 500p per share for the last 50 per cent of the 190-year-old British brokerage, valuing the total business at £2bn. The deal will land a multi-million pound windfall for many Cazenove [...]
FSA censures traders after their appeal October 7, 2009 THE FINANCIAL Services Authority yesterday censured two bond traders who had appealed against market abuse allegations, stopping short of issuing a hefty fine or a lifelong ban. The news prompted speculation that more people would now choose to appeal to the FSA Regulatory Decision Committee (RDC), as the watchdog forges ahead with its aggressive enforcement [...]
FSA censures traders after their appeal October 7, 2009 THE FINANCIAL Services Authority yesterday censured two bond traders who had appealed against market abuse allegations, stopping short of issuing a hefty fine or a lifelong ban. The news prompted speculation that more people would now choose to appeal to the FSA Regulatory Decision Committee (RDC), as the watchdog forges ahead with its aggressive enforcement [...]
Energy stocks keep the FTSE warm despite banking falls October 27, 2009 THE FTSE 100 gained 0.2 per cent yesterday, keeping level after a rally from heavyweight energy issues offset weakness in banks and mining stocks. The index closed 9.23 points higher at 5,200.97, after ending 1 per cent lower on Monday. The blue-chip index has gained about 51 per cent since hitting a six-year low in [...]
Q & A : What next for DubaI? November 26, 2009 Q. WHY ARE WORLD MARKETS NOW SO CONCERNED ABOUT DUBAI’S DEBT PROBLEM? A. European banks are exposed to about half of Dubai’s $80bn (£48.5bn) debt pile. The emirate’s debt moratorium triggered fears that those banks’ bad debts could worsen again, endangering the global recovery. Analysts at Credit Suisse said European banks could face a 5 [...]
Schroders slows profits slide as client cash inflows recover November 10, 2009 RISING inflows of cash, particularly from institutional investors, allowed fund manager Schroders to slow its profit slide in the third quarter. Schroders yesterday reported surprisingly strong interest from investors in the second half of the year, with net inflows of £7bn in the three months to 30 September. While £3.7bn was raised from retail investors, [...]
Financials and US data boost London’s blue chip companies December 16, 2009 Britain’s leading share index rose 0.7 per cent yesterday as US data led to a rise in commodity stocks, and banks firmed on a report that the enforcement of capital adequacy rules would be delayed. The FTSE 100 finished 34.49 points higher at 5,320.26, after closing 0.6 per cent down at 5,285.77 on Tuesday. New [...]
Spreadex breaks records in October November 2, 2009 SPREAD betting firm Spreadex recorded its highest ever monthly betting volumes in October, boosted by the launch of its new website at the start of the month. The numbers – which include trading on the company’s ShortsandLongs.com platform – were up 8.6 per cent on previous best-ever levels. The privately-owned company declined to give actual [...]
Spreadex breaks records in October November 2, 2009 SPREAD betting firm Spreadex recorded its highest ever monthly betting volumes in October, boosted by the launch of its new website at the start of the month. The numbers – which include trading on the company’s ShortsandLongs.com platform – were up 8.6 per cent on previous best-ever levels. The privately-owned company declined to give actual [...]