Shareholders positive, says IMA June 8, 2009 Rebounding markets finally pushed investors into confident territory last month, according to the Investment Management Association (IMA). The association said its GB Investor Confidence index – which ranges from 0 to 200 where 100 is “neutral” – hit 106 last month. This compares to 99 at the start of May, and 71 six months ago.
Analysts: investors are irrational June 8, 2009 More than two thirds of financial professionals believe there is no rhyme or reason to market movements, according to research released yesterday. Of 438 surveyed members of the CFA (Chartered Financial Analyst) Society of the UK, the member association for investment professionals, 77 per cent said they did not agree that market prices fully reflect [...]
CITY MOVES WHO’S SWITCHING JOBS June 8, 2009 DeloitteThe business advisory firm has appointed risk management specialist Philipp Keller to its European Solvency II team. Keller, who joins the Zurich office as head of insurance risk management, was previously head of research and development and a board member of the Federal Office of Private Insurance in Switzerland. He is also an adviser on [...]
Alliance Boots and the ex-banker: Pessina’s most daring appointment June 8, 2009 IT’S been quite a busy couple of days,” says the 67 year-old Stefano Pessina, in a somewhat understated sort of way. The executive chairman of Alliance Boots was supposed to have spent the weekend by the sea in his native Italy before flying off to a conference in the US. Instead, he’s in his financial [...]
Sweat in the City June 8, 2009 THERE is only so much good that you can do to your body with pilates, and other such exercises where lying down features heavily. Those people who rattle on about the importance of “strengthening the core” really need to know one thing: the only way to get properly fit is to feel some lung-busting pain. [...]
CITY BOYS COME UP TRUMPS FOR SIR ALAN’S NEWEST APPRENTICE June 8, 2009 BEADY-eyed Apprentice followers may have noticed a bevy of City boys getting behind the camera last night for a cameo on the final episode of the show. Pelham PR’s Gavin Davis, Alisdair Haythornthwaite and Alex Walters appeared on screen, with Funsho Allu from insurer AIG and freelance hack Jack Dyson, to advise winner Yasmina on [...]
Daredevil for a day June 8, 2009 ANYONE who has marvelled at the aerial spectacle of the Red Bull Air Race must surely have wondered what it is like to hurtle along in a small aircraft at high speed just feet above the ground. The airborne equivalent of Formula One, the event has attracted millions of spectators around the world. But while [...]
BP’s head of green fuels to step down June 8, 2009 THE CHIEF of BP’s alternative energy division, Vivienne Cox, is to retire at the end of the month as the oil giant scales back its financial commitment to green fuels. Cox, BP’s most senior female executive, will be replaced by the chief operating officer of the division, Karina Landis. The company has faced criticism over [...]
Labour routed at the ballot box as centre-right gains traction in EU June 8, 2009 LABOUR suffered its worst performance in a national election since World War II, as it was left trailing in third place by the Conservatives and the UK Independence Party (UKIP) in this week’s European elections. Prime Minister Gordon Brown’s party polled just 15.7 per cent of the vote, undershooting Labour’s worst expectations, as David Cameron’s [...]
Lloyds stalls on dividend June 8, 2009 LLOYDS Banking Group will not resume dividend payments to shareholders this year, despite freeing itself of £480m a year in interest payments by redeeming £4bn in government-held preference shares. The bank confirmed yesterday that it had sold 87 per cent of a £4bn share placing to existing shareholders at 38.43p, with a 13 per cent [...]