Nicole Farhi in hopes of cost falls September 20, 2009 Fashion design house Nicole Farhi aims to manage costs by negotiating with European suppliers and hopes that strong internet trading will offset higher operating costs due to a weaker pound, its managing director said yesterday. The label’s parent company French Connection last week posted a pre-tax loss of £12.8m and said it would close underperforming [...]
Carlyle joins rivals in China dairy September 20, 2009 Private equity giant Carlyle said it had bought a minority stake in Yashili to help the leading Chinese infant formula maker improve its research and production. Washington-based Carlyle obtained a 17.3 per cent stake in Yashili, according to a statement. Carlyle’s deal came after rivals including Kohlberg Kravis Roberts and Sequoia Capital invested more than [...]
Obama fears over USjob growth September 20, 2009 President Barack Obama said yesterday that all signs point to the US economy starting to grow again but there may not be enough new jobs created until next year. “I want to be clear, that probably the jobs picture is not going to improve considerably and it could even get a little bit worse over [...]
Fed prepares to detail new bonus regime September 20, 2009 THE US Federal Reserve is to unveil a four-pronged approach to reforming remuneration structures, as the G20 world leaders prepare to meet in Pittsburgh this Friday, with pay and bonuses high on the agenda. America’s central bank, chaired by Ben Bernanke, aims to link pay to long-term performance, as part of an international drive to [...]
Cameron lands role with top City recruiter September 20, 2009 JOHNNY Cameron, the former RBS banker who shouldered much of the blame for the bank’s huge losses last year, has landed a job as a part-time adviser with headhunting firm Odgers Berndtson. Cameron, who was effectively barred from taking a senior role at another company by the Financial Services Authority (FSA) earlier this year, will [...]
Credit Suisse keeps talent September 20, 2009 CREDIT Suisse has been able to hold on to key talent and has accumulated a war chest it could use to make acquisitions, the chief executive of the Swiss bank Brady Dougan said yesterday. Dougan, whose bank rode out the sub-prime mortgage crisis without having to resort to state aid, said the bank had been [...]
Senate bank chair calls for creation of super-regulator September 20, 2009 THECHAIRMAN of the US senate banking committee has dealt a blow to President Barack Obama’s blueprint for financial reform by calling for the country’s four banking watchdogs to be merged into a single “super-regulator”. Senator Christopher Dodd told a US newspaper that he would introduce legislation that would form the basis of the Senate’s efforts [...]
Journalist set to profit from company sale September 20, 2009 The FOUNDER of financial commentary site Breakingviews.com appears set to sell it to Thomson Reuters for around £10m. Hugo Dixon, who ran the Lex column of the Financial Times for five years before setting up Breakingviews in 1999, has been in talks with Reuters since July, but the two parties have struggled to agree a [...]
Microsoft grants investors vote on pay September 20, 2009 SOFTWARE giant Microsoft has agreed to let its shareholders vote on its bosses’ pay packages, following the fierce debate over executive pay in the recession. The firm will hold a vote every three years on its executive pay, starting with its annual meeting on 19 November, although the result of the vote will not be [...]
RIVERS OF BUBBLY AND HALF A COW: CITY BOYS TAKE MACHO CHALLENGE September 20, 2009 EMERGING pleasantly sated from an overdose of fine wining and dining this past weekend, The Capitalist was intrigued to see two City institutions taking a stand on how to deal with the effect of the recession on the Square Mile lunch market. A little bird at Gaucho – catering for the red-blooded males and less-than-faint-hearted [...]