CITY MOVES WHO’S SWITCHING JOBS July 16, 2009 Dairy CrestDiary Crest announced that Anthony Fry (pictured), who was appointed to the board in July 2007, took on the role of deputy chairman yesterday. He will take over from Simon Oliver as chairman on 1 January 2010 when Simon will retire from the Board. Simon will take on the position of honourary group president. [...]
Petrofac wins Abu Dhabi deal July 16, 2009 Petrofac, the British oil and gas services firm, has sealed a $2.1bn (£1.3bn) deal to construct the fourth natural gas to liquids train at the Abu Dhabi-based Ruwais complex. It is the first project that Petrofac Emirates – a joint venture between Petrofac and Abu Dhabi’s Mubadala Petroleum Services – has been awarded and work [...]
SEEING IS BELIEVING AS 6,500 RUNNERS HIT THE CITY OF LONDON July 16, 2009 THE CITY was out in force last night for the fifth annual Standard Chartered Great City Run, and The Capitalist was impressed that as many as 6,500 of you tackled the five kilometre race in the name of the official charity, Seeing is Believing (SiB). The square mile closed to traffic so that teams from [...]
Teletext to be switched off for good July 16, 2009 ASSOCIATED Newspapers said yesterday that it will shut down its loss-making Teletext analogue television service in January 2010, two years ahead of schedule, because the economic downturn has accelerated a fall in audiences and revenue. The company, owned by the Daily Mail and General Trust (DMGT), added it will also pull the plug on a [...]
Bluebay shares boosted after assets rise 35pc July 16, 2009 SHARES in fixed income manager BlueBay Asset Management rose yesterday, after it reported strong assets under management (AUM) for its fourth quarter to June. The company said end-June assets were up 35 per cent on end-March to $24.3bn (£14.8bn) — 16 per cent better than a UBS forecast of $21bn, and 17 per cent better [...]
Swine flu could kill 65,000 in UK July 16, 2009 As many as 65,000 people could die due to swine flu in the UK, according to chief medical officer Sir Liam Donaldson. The government yesterday launched a service allowing patients with the virus to obtain drugs over the phone and internet. In the UK, 29 deaths have now been linked to the disease.
Lloyds cuts a further 1,200 jobs July 16, 2009 LLOYDS Banking Group said it is cutting 1,200 jobs in its group operations and insurance business, taking its layoffs to over 8,000 since it bought rival HBOS in January. Lloyds, 43-per cent owned by the government, yesterday announced a net reduction in staff of around 650 permanent roles by the end of March 2010. The [...]
HOW WOULD WALKER’S PROPOSALS AFFECT YOUR SECTOR? July 16, 2009 ANGELA KNIGHT BRITISH BANKERS’ ASSOCIATIONThese recommendations stem from the actions that a number of banks and other financial institutions have already put in place. These proposals would effectively bring all firms’ governance up to the standards of the best and are therefore to be welcomed.PETER MONTAGNON ABI (INSURANCE)This is a valuable contribution to the debate [...]
Barclays brings Goldman man onto its board July 16, 2009 BARCLAYS named Goldman Sachs veteran Reuben Jeffery as a non-executive director yesterday, on the same day the Walker report called for more banking expertise on bank’s boards. The bank said Jeffery, who served in the US government as under secretary of state for economic, energy and agricultural affairs from 2007 until earlier this year, joins [...]
US jobless claimants come down July 16, 2009 The number of Americans lining up for jobless benefits tumbled in the last week, a decline seen as distorted by upheaval in the car industry, while a key regional factory index slipped in July, reports showed yesterday. At the same time, US home foreclosures raced to a record high in the first half of 2009, [...]