Upbeat view at JPMorgan June 15, 2009 THE dramatic recovery in risk appetite should mean more mergers and capital raisings, and a wave of flotations later this year, according to senior European investment bankers at JPMorgan. However, JPMorgan also said its investment banking rivals, like investors, were again getting a taste for danger, echoing the “foolishness and foolhardiness” in the years leading [...]
Citi chair says no timetable for repaying its $45bn Tarp loans June 15, 2009 CITIGROUP fully hopes to pay back the $45bn (£28bn) it borrowed from the US Treasury’s banking bailout program, but there is no timetable, the bank’s chairman said yesterday. Richard Parsons said the fact that Citi has been unable to repay its loans puts it at a disadvantage in terms of attracting and retaining key talent. [...]
Serviced offices are Godsend June 15, 2009 ALEXIS de Tocqueville, a 19th Century French political thinker and historian, explored the rising equality of social conditions for the individual and the state in western societies. Tocqueville wrote: “Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.” We are obsessed with customer service too. Created [...]
Porsche: China will usurp Germany in three years June 15, 2009 CARMAKER Porsche said yesterday that emerging superpower China could usurp Germany as its second-largest market in less than three years, as wages in the country go up and demand for its sports sedan rockets. “All premier manufacturers in China are showing good results,” Porsche’s China boss Helmut Broeker said. The carmaker is planning to add [...]
For the daddy who has (nearly) everything June 15, 2009 CHANCES are, your father doesn’t make a song and dance about the items on his wish-list. Desperate for new cufflinks, more single malt or a nice new pen? He might be, but you’ll be hard pressed to know it. This is a chance to surprise him with his unspoken wish. First, there are items that [...]
FATHER’S DAY SPA TREATMENTS June 15, 2009 THESE days spas and pampering are not just for women. So what better time to treat your dad to a refreshing facial or a professional shave? This year, there is a wide choice for men. Spa at Chancery Court (www.spachancerycourt.com) on High Holborn is offering a range of Father’s Day-inspired treatments, available as gift vouchers. [...]
60,000 drivers take up scrappage offer June 15, 2009 MORE than 60,000 orders for new cars have been made under the government’s scrappage scheme, in a rare piece of positive news for the struggling sector. The drive to encourage spending on motors, which began in May, offers consumers £2,000 on cars over 10 years old. Half of the incentive money is supplied by the [...]
CITY MOVES WHO’S SWITCHING JOBS June 15, 2009 ETF SecuritiesThe exchange-traded commodities and funds provider has hired Mark Weeks as chief executive of the ETF Exchange, its third-generation exchange-traded fund platform. Weeks joins from UBS, where he ran the highly successful securities lending franchise in Zurich. Prior to that, he spent seven years at Goldman Sachs, where he was a managing director responsible [...]
HORLICK BID SET TO TURN HOSTILE June 15, 2009 CITY superwoman Nicola Horlick has vowed not to give up her quest to take over Bramdean Alternatives, the listed fund she manages, after its board pulled out of talks yesterday. Her refusal to back down could pave the way for the first instance in corporate history that a fund manager launches a hostile bid for [...]
Obama to overhaul regulation June 15, 2009 PRESIDENT Barack Obama will tomorrow outline the most sweeping overhaul of US financial regulation since the Great Depression, in an attempt to prevent a repeat of last year’s financial crisis. Treasury secretary Timothy Geithner and White House economic adviser Lawrence Summers yesterday said the administration plans to create a “council of regulators” to coordinate supervision across [...]