ALL HAIL THE CITY’S HUNKIEST GENTS June 22, 2009 1. JOSHUA RAYMOND CITY INDEXIt was a tough job, picking just one of the City’s most strapping gentlemen to grace the top spot, but someone had to do it – and City A.M.’s discerning judging panel were unanimous in their vote for the lovely Joshua Raymond, market strategist at spreadbetter City Index. Joshua started breaking [...]
Global regulation body to back hedgie register June 22, 2009 A GLOBAL regulatory body backed compulsory registration of hedge fund managers yesterday to restore investor confidence, saying the $1.3 trillion (£790bn) sector did not cause the credit crunch but may have amplified its effects. The International Organisation of Securities Commissions (IOSCO) represents regulators from over 100 countries, including the United States, Japan and the 27-nation [...]
HOLIDAY AT HEATHROW June 22, 2009 THE world’s largest hotel group Intercontinental Hotels yesterday announced plans to create Europe’s biggest Holiday Inn Express at Heathrow’s T5. InterContinental Hotels has already started work on the site which will house a 300-room hotel to be completed by the 2012 Olympics, of which IHG is a sponsor.
CBI: UK faces a brain drain June 22, 2009 OVER a quarter of organisations plan to transfer work overseas because of the UK’s downturn, according to a survey out today by the CBI and recruitment expert Harvey Nash. Fears of a “brain drain” are rising as over half of bosses in the science, hi-tech and IT sectors reported they have either moved jobs overseas [...]
I believe we can become a country of entrepreneurs June 22, 2009 ONE of the biggest myths – and it is the size of the Wizard of Oz – is that there is job security. There is none, so get over it. It’s not that employers are bad, but just that no one can honestly promise job security in an ever globalising world, or in one where [...]
Over three quarters of investors trust politicians more than financial advisers June 22, 2009 OVER three quarters of investors believe financial intermediaries, such as client-facing advisers, are less trustworthy than politicians, according to a survey. Intermediaries are perceived as being untrustworthy and lacking knowledge, perhaps as a result of poor education by investment managers on complex products and risk management practices, according to the KPMG/Datamonitor study. “It is little [...]
Siemens sees green boost to order book June 22, 2009 GERMAN industrial conglomerate Siemens said it expects to win new orders of around €15bn (£12.7bn), mostly green projects, from economic stimulus programmes worldwide in the next three business years. Of that figure, €6bn would come from green technology contracts, “significantly” increasing revenues from the company’s environmental portfolio in the future. Nonetheless, Siemens still expected business [...]
NO SLOANE RANGERS AT LIBERTY June 22, 2009 LIBERTY of London, the iconic department store group, is to close its Sloane Street standalone store in Knightsbridge just 12 months after it opened, having received a “fabulous” offer for the lease. Liberty said an unnamed European fashion brand had offered it a £700,000 cash premium to take over the site.
Gazprom Neft reinstates the chief exec it replaced less than a week ago June 22, 2009 RUSSIAN oil and gas giant Gazprom yesterday did a U-turn over its plans for Aim-listed Sibir Energy, re-appointing Stuard Detmer as chief executive of the firm just days after replacing him with a candidate from its own legal team. Sibir said in a statement it had re-appointed Detmer at the request of the group’s oil [...]
How the Baker Street brigade are taking on the Big Four accountants June 22, 2009 YOU get the impression when you meet him that Simon Michaels, the managing partner of BDO Stoy Hayward, wants a lot of things – and one of the first is a larger slice of the UK accounting pie. Michaels, at 42 the youngest person to lead the UK’s sixth-largest professional services business, was elected to [...]