The results of our first poll are in March 8, 2010 THE markets are panicking about the outcome of a general election that is just weeks away, but we decided to find out what our readers think. Will a Conservative government fix the economy or is Labour the only party that can be trusted with the recovery? And what would a hung parliament mean for the [...]
Barker: Hiking rates would not have eased recession March 8, 2010 MONETARY policy could not have done very much more to alleviate the depth of the recession, monetary policy committee (MPC) member Kate Barker said in her final speech before she steps down at the end of May. She said it would have been difficult to pinpoint the level of rates to keep the expansion of [...]
Nomura shakes up management March 8, 2010 Siggi Thorkelsson has quit his post as Asian head of equities at Nomura Holdings, as the Japanese brokerage yesterday announced a management shake-up that included a new US chief to drive growth there. Nomura said Naoki Matsuba will take over as CEO for the Americas to drive its build out in the United States. Matsuba, [...]
Citi’s Shedlin joins rival bank March 8, 2010 Gary Shedlin, who was most recently chairman of Citigroup’s investment banking effort for financial institutions, is departing to join Morgan Stanley, a Morgan Stanley spokeswoman said. Shedlin in his new position with Morgan Stanley will be a vice chairman focused on financial institutions, spokeswoman Alyson Barnes said. His position will be a new one. While [...]
Harrah’s $5.5bn loan extended March 8, 2010 Harrah’s Entertainment has won approval from lenders to extend the maturity date on a $5.5bn (£3.65bn) loan, giving it until 2015 to pay off the debt. Harrah’s, the world’s largest operator of casinos, will also have the ability to buy back the commercial mortgage-backed securities loan at a steep discount, helping it reduce debt, the [...]
Timely ton’s a boost to Trott March 8, 2010 JONATHAN TROTT all but secured his place in England’s Test side for Friday’s series opener after firing a timely century in the warm-up game with Bangladesh A in Chittagong. The Warwickshire batsman’s place in the top order has been under threat from the emerging Michael Carberry in recent weeks but he wasted no time in [...]
ELGAR’S FINAL CONCERTO March 8, 2010 THE old-style £20 notes featuring composer Edward Elgar will cease to be legal tender on 30 June, the Bank of England said yesterday. New notes depicting economist Adam Smith are already in circulation, but 10 per cent of £20 notes — worth £3bn pounds — still show the early 20th Century composer’s portrait.
AztraZeneca falls on drug trial flop March 8, 2010 ASTRAZENECA’S cancer drug Recentin failed in a head to head late stage trial with Roche’s Avastin in colon cancer patients, hurting the Anglo-Swedish drugmaker’s shares yesterday. The company said the data showed the experimental drug did not live up to expectations. But it said it would wait for fresh data from a second late stage [...]
Aer Lingus delays results after cabin crew reject cuts March 8, 2010 IRISH airline Aer Lingus will not publish its 2009 earnings today as planned so it can adjust provisions for cost-cutting measures that cabin crew rejected last week. The Irish flag carrier said it would not publish full results until an unspecified date. It will issue a brief trading statement today instead. Aer Lingus, which has [...]
CITY MOVES | WHO’S SWITCHING JOBS March 8, 2010 Nomura The Japanese bank has appointed Rachid Bouzouba as co-head of global equities, as part of a wider shake-up of its global management team. Bouzouba is currently head of equities for EMEA and has been instrumental in building up the bank’s equities business in the region. He will now manage Nomura’s global equities business alongside [...]