ANALYST VIEWS: SHOULD THE PREMIER LEAGUE SET A NEW BORROWING CAP TO STOP CLUBS RACKING UP MASSIVE DEBTS? February 15, 2010 DAVE WHELAN | CHAIRMAN, WIGAN ATHLETIC The Premier League is in trouble – we can’t have a situation where a massive club like Portsmouth is going out of business. Something drastic needs to be done and I think capping the amount of borrowing at clubs is the answer. I’m going to be pushing for this. [...]
LEHMAN GOODIES LEFT OUT ON THE SHELF February 15, 2010 HAVING had a tough time of it during the recession, the flood of money now pouring into charity coffers from the world’s chastened banks continues apace. Hot on the heels of Goldman Sachs donating a large part of its 2009 compensation pool to good causes comes the news that charities are now also raking it [...]
Greece asks for more time to discuss debts February 15, 2010 Greece faced down pressure for deeper budget cuts at yesterday’s euro zone talks and warned that last week’s support pledge by European leaders may not suffice to stop the debt market squeeze on governments in the region. Greece last Thursday became the first country in 11 years of European monetary union to require such a [...]
City veteran Adam Wilson takes helm at Daniel Stewart February 15, 2010 STOCKBROKING doyen Adam Wilson, the former chief executive of Hichens Harrison, has joined loss-making City broker Daniel Stewart as chief executive in a bid to revamp the business. Wilson’s appointment comes after Daniel Stewart yesterday said it had secured a deal to buy Dubai-based financial consulting business Mena-RL, which was set up by Wilson after [...]
Liberum Capital shakes up its management February 15, 2010 LIBERUM Capital, the investment banking group set up by former Collins Stewart chief executive Shane Le Prevost, has reshuffled its management team after a period of strong growth despite the downturn. Liberum said yesterday it had appointed Simon Stilwell as its new chief executive. Stilwell has run the firm’s small cap sales team since it [...]
CITY VIEWS: IS GERMANY RIGHT TO BE TOUGH WITH GREECE February 15, 2010 ANDREW BOND | LEND LEASE GROUP “The EU is supposed to be a critical mass in itself and the reason for joining is to make trading between countries easier, so the EU should stand by Greece. Germany bailed out East Germany and that’s probably why they’re not so disposed to a bailout.” MARK WALDEN | [...]
Public sector jobless total is set to soar February 15, 2010 JOB losses are set to surge as the axe swings in the public sector, an employers’ survey has found. One in three public sector employers plan to slash jobs this year according to the survey, published yesterday by the Chartered Institute of Personnel and Development (CIPD). The number of public sector bodies planning job cuts [...]
ING tackles Rugby with bid February 15, 2010 LISTED property fund Rugby Estates revealed a 7.5 per cent increase in the value of its portfolio yesterday as it upped the stakes in bid talks with a trust run by Dutch manager ING. Shares in Rugby rose 12.7 per cent to 55.5p after it announced a fresh external valuation rated its assets at £68.3m [...]
Harris & Co opens up in Switzerland February 15, 2010 LAW firm D. Harris & Co has opened an office in Zurich to cater for the growing number of hedge funds setting up in Switzerland. In a sign of the growing popularity of the alpine region, the Baker Street-based company expects up to 30 per cent of its staff to relocate to its Swiss branch. [...]
Iceland gives new Icesave proposal to UK February 15, 2010 ICELAND yesterday presented Britain and the Netherlands with a new proposal for repaying more than £3.2bn lost in Icelandic bank accounts in a last-ditch attempt to resolve the lingering dispute. Iceland is trying to lure the British and Dutch governments back to the negotiating table on the “Icesave” problem, hoping to avoid a planned 6 [...]