Stopping the rot: Eurozone contagion May 24, 2011 GLOBAL REACH PTNRS MARK THOMPSON The resurgence of Eurozone sovereign debt fears has driven the euro to two month lows against the dollar in the last two trading sessions and looks likely to keep the common currency under pressure in the days to come. Investors are right to be anxious about the implications of further [...]
The screws are tightening, but it’s not torture yet February 8, 2011 CHINESE interest rate rises are, it seems, rather like coffee. The effect gets smaller with each extra dose. When the People’s Bank of China (PBoC) first announced an interest rate increase in mid-October last year, the trade-weighted dollar strengthened 1.7 per cent. The second rate rise, announced on Christmas day, produced a smaller reaction, but [...]
The screws are tightening, but it’s not torture yet February 8, 2011 CHINESE interest rate rises are, it seems, rather like coffee. The effect gets smaller with each extra dose. When the People’s Bank of China (PBoC) first announced an interest rate increase in mid-October last year, the trade-weighted dollar strengthened 1.7 per cent. The second rate rise, announced on Christmas day, produced a smaller reaction, but [...]
Chaucer talks continue as profit halves March 7, 2011 FOR-SALE Lloyd’s insurer Chaucer posted a small profit yesterday and confirmed its takeover discussions were continuing. Chaucer confirmed it was in talks with potential bidders last month, which have been named as Guy Hands’ Terra Firma private equity firm and a US trade buyer, among others. Sources told City A.M. yesterday Hands was weeks away [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 6, 2011 FINANCIAL TIMES TESCO PUSH ON MUSIC GROUPS’ CD DEALS Tesco is pushing music companies to accept minimal upfront payments for the compact discs they ship to the Uk retailer, in a renegotiation that will test how record labels’ bargaining power has diminished in line with shoppers’ interest in CDs. Instead of paying £7 or £8 [...]
The attack of the ECB hawks: how uncertainty has changed tactics February 22, 2011 HAWKISHNESS is not new at the European Central Bank (ECB), but this week its most notorious birds of prey have been flapping their beaks. This has got foreign exchange traders rather excited, and stabilised the euro against the dollar at a time when the upheaval in the Middle East should have had them flooding in [...]
Move toward interest rate rise expected February 20, 2011 THE Bank of England is moving closer to a hike in interest rates, it is expected to reveal this week. The latest voting record of the Bank’s monetary policy committee (MPC) could expose more members voting for the 0.25 per cent rise when it is revealed on Wednesday, according to some analysts. Two MPC members [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2011 SJ Berwin The international law firm has appointed Tony Angel, chief executive of healthcare technology group Vantage Diagnostics, as a non-executive director. As managing partner of Linklaters from 1998 to 2007, Angel presided over a 57 per cent turnover increase and a 108 per cent profit increase. In 2008, he joined ratings agency Standard & [...]
M&S success fails to stop a drop in the FTSE 100 index October 7, 2010 BRITAIN’S top share index closed lower yesterday, as weaker metals prices hurt mining stocks, while Marks & Spencer rose as investors warmed to a trading update from the retailer. The FTSE 100 closed 19.26 points, or 0.3 per cent, lower at 5,662.13, after rising 0.8 per cent on Wednesday to a five-month closing high. Mining [...]
M&S success fails to stop a drop in the FTSE 100 index October 7, 2010 BRITAIN’S top share index closed lower yesterday, as weaker metals prices hurt mining stocks, while Marks & Spencer rose as investors warmed to a trading update from the retailer. The FTSE 100 closed 19.26 points, or 0.3 per cent, lower at 5,662.13, after rising 0.8 per cent on Wednesday to a five-month closing high. Mining [...]