FTSE 100 hits one-month low as Greek deficit fears weigh April 22, 2010 The London Report FTSE 100 hits one-month low as Greek deficit fears weigh BRITAIN’S top shares fell to a one-month closing low yesterday after news that Greece’s deficit widened more than expected hit investor sentiment, sending commodity and bank stocks into reverse. A downgrade of Greece’s debt rating from Moody’s Investors Service added to investor [...]
London office rents set to boom in 2010 April 21, 2010 COMMERCIAL property surveyors expect rents for London offices to shoot up in the second quarter of 2010 as space in the capital continues to decline. Commercial property rents will rise at the fastest rate in two years, surveyors predicted yesterday in a Royal Institution of Chartered Surveyors (RICS) report, confirming signs that the property market [...]
CITY MOVES | WHO’S SWITCHING JOBS April 21, 2010 Royal London Asset Management The asset management firm has promoted Ian Goulsbra to the role of head of wholesale relationships, effective immediately Goulsbra joined RLAM in 2007 as a business development manager for the south of England. He was previously at Premier Asset Management, where he was head of institutional sales, and also spent time [...]
LISTED PRODUCT NEWS April 21, 2010 FIRST LISTING FOR RBS’S ETC PLATFORM Standard Commodities, the Royal Bank of Scotland’s exchange-traded commodities (ETC) platform, launched its first product on the Frankfurt Xetra stock exchange this week. Its physical gold ETC gives investors exposure to the performance of the London gold market fix price and the ETC is denominated in euros. The ETC [...]
CITY MOVES | WHO’S SWITCHING JOBS April 20, 2010 Merrill Lynch The bank has appointed Patrick Ramsey as chief executive of Merrill Lynch Bank Suisse, the Swiss wealth management division. Ramsey, who will report to Merrill’s EMEA head of wealth management David Jervis, joined the group in 2002. He most recently held the role of head of European private banking. Prior to joining Merrill, [...]
New cloud casts doubt on flights April 19, 2010 A NEW ash cloud erupting from the Icelandic volcano has endangered plans to reopen British airspace. Major carriers had planned to operate long haul departures and short haul flights scheduled to fly after 7pm in a bid to help stranded passengers. But last night hopes faded as a ferocious new blast of volcanic ash drifted [...]
Concerns over Goldman Sachs weigh on the FTSE 100 as mining shares fall April 19, 2010 UNCERTAINTY over the fallout from fraud charges against Goldman Sachs and the grounding of flights across Europe depressed London blue chips yesterday, led by risk-sensitive banks and miners and travel firms. The FTSE 100 closed down 16.05 points, or 0.3 per cent, at 5,727.91, extending Friday’s 1.4 per cent fall. Banks were rattled as investors [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 18, 2010 THE SUNDAYS The Sunday Telegraph BARCAP TO RAID ECM BANKERS Barclays Capital, the investment banking arm of barclays bank, is creating a bold plan to catapult its equity capital markets (ECM) business into a global top-three player in under five years. The ambitious strategy just 18 months after its $1.85bn (£1.2bn) acquisition of Lehman Brothers’ [...]
UK politicians join Goldman bandwagon April 18, 2010 UK POLITICIANS presented a rare united front yesterday as they called for the City regulator to begin its own investigation into securities fraud allegations against Goldman Sachs. Fabrice Tourre, the individual named in the case brought by the Securities and Exchange Commission (SEC) in the US, is now based at Goldman’s Fleet Street headquarters after [...]
CITY MOVES | WHO’S SWITCHING JOBS April 18, 2010 Withers The law firm has appointed Kenneth Mullen as a partner in the firm’s London office, continuing the expansion of the firm’s European commercial practice. Mullen joins from Shepherd and Wedderburn, where he was a partner in the media and technology team in London. He is a specialist in transactional intellectual property, technology and outsourcing, [...]