Rally ends as weak miners nudge FTSE down slightly August 10, 2009 THE FTSE 100 edged down yesterday, with investors booking profits from hefty gains in miners and banks last week, while the market searched for direction as the earnings season tailed off. The index ended down 0.2 per cent, or 9.36 points at 4,722.20, not far from a 10-month closing high of 4,731.56 on Friday. A [...]
LUXURY FIRMS OUT TO IMPRESS AT WALPOLE GLAM LAUNCH PARTY June 2, 2009 WHEN it comes to impressing the great and the good of the City, Mayfair and Westminster, the firms which made the cut for this year’s Walpole Brands of Tomorrow pretty much have it licked. The luxury companies on the 2009 list gathered last night at Brown’s Hotel in the West End to drink champagne and [...]
CITY MOVES WHO’S SWITCHING JOBS July 22, 2009 MercerThe consulting and outsourcing business has appointed Monica Santiago as head of its health and benefits business in the UK. Santiago was previously chief operating officer for Mercer’s health and benefits business in Europe and, prior to that, was business leader for Portugal. She takes over her new London-based role from David Levey, who becomes [...]
Guilty plea in banker death June 9, 2009 TWO men have pleaded guilty to the manslaughter of Barclays Wealth chief operating officer Frank McGarahan, who died after trying to break up a street fight in the early hours of 28 September last year in Norwich. Tom Cowles, 22, and his brother Ben, 21, admitted to manslaughter after initially denying a charge of murder. [...]
Stalemate for mining giants Xstrata and Anglo American June 25, 2009 A TIE-UP between Xtrata and Anglo American “remains unattractive for Anglo shareholders,” sources familiar with the talks said yesterday, a day after Xstrata published details of the merger in a bid to convince shareholders of the merits of the deal. “The Anglo board has firmly rebuffed Xstrata’s proposal,” one industry expert added. Xstrata upped the [...]
Client inflows boost revival at BlackRock July 21, 2009 US ASSET manager BlackRock suffered a 20 per cent fall in second-quarter profit compared to last year, but saw results improve from the first three months of the year, it said yesterday. The firm, which will become the world’s largest asset manager upon completion of its $13.5bn (£8.2bn) acquisition of Barclays Global Investors (BGI), said [...]
Larry Fink’s BlackRock is here to stay June 14, 2009 ANALYSIS: THE WORLD’S LARGEST ASSET MANAGER WILL BE A MAJOR PLAYER IN LONDONBLACKROCK’S acquisition of Barclays Global Investors (BGI) will see it become the world’s largest asset manager with $2.89 trillion (£1.75 trillion) under management, more than twice the funds run by number-two group State Street. The new firm, BlackRock Global Investors, will be one [...]
Larry Fink’s BlackRock is here to stay June 14, 2009 ANALYSIS: THE WORLD’S LARGEST ASSET MANAGER WILL BE A MAJOR PLAYER IN LONDONBLACKROCK’S acquisition of Barclays Global Investors (BGI) will see it become the world’s largest asset manager with $2.89 trillion (£1.75 trillion) under management, more than twice the funds run by number-two group State Street. The new firm, BlackRock Global Investors, will be one [...]
BoA-Merrill fill senior posts June 1, 2009 Bank of America-Merrill Lynch said yesterday it filled two of its most prominent research positions, North America economist and US chief equity strategist, with analysts from rival Wall Street firms. Ethan Harris will leave Barclays Capital to fill BofA-Merrill’s economist slot, while David Bianco will leave UBS to be BofA-Merrill’s strategist.
Odey and GLG among hedge fund winners June 10, 2009 WINNERS are emerging from the hedge fund sector’s dramatic comeback in May, with groups like Odey and GLG now trumpeting net gains as high as 35 per cent this year so far. Hedge fund managers are saying investments in banks and emerging markets paid off last month, while recent research claimed May saw the vehicles [...]