London still dominates EU hedge space May 27, 2009 LONDON still plays host to the top 15 hedge fund companies in Europe despite the massive losses and client withdrawals seen in the vehicles over the last year. The total assets managed by Europe’s top 50 hedge fund groups have plummeted by 30 per cent over the last year from £225bn to £178bn, according to [...]
Alexander David bucks small cap recession woes May 27, 2009 SMALL cap broker Alexander David said yesterday turnover at its trading subsidiary Alexander David Securities doubled on a like-for-like basis over the first four months of the year, shrugging off the effects of the recession. In addition, the group announced plans to raise £668,000 via a placing of 66.8m new shares. An estimated 21m shares [...]
KLEINMAN JOINS SKY AS ANSWER TO BEEB’S BUSINESS EDITOR PESTON May 27, 2009 ROBERT Peston must be quaking in his well-oiled boots. The media rumour mill has been going into overdrive over the past few days as industry veterans gossiped about Sky News launching a bid to up the stakes in its rivalry with the BBC by hiring the Sunday Telegraph’s Mark Kleinman to be its new City [...]
CITY MOVES WHO’S SWITCHING JOBS May 27, 2009 Blue Oar SecuritiesThe stockbroker has appointed Shamim Mansoor as a mining analyst from HSBC, where she was vice president of global metals and mining. Prior to that, she spent five years as a mining analyst at Investec. “The mining sector is experiencing an unprecedented period of change. As a global industry, its impact on the [...]
Morrisons outstrips its rivals May 27, 2009 Morrisons is growing at the fastest rate of the big four supermarkets with Tesco continuing to lag behind the pack, according to new industry data. Britain’s fourth-biggest grocer clocked up growth of 7.9 per cent in the 12 weeks to 17 May, lifting its market share to 11.6 per cent. Sainsbury’s, with 7.8 per cent [...]
Dutch to end ban on shorting May 27, 2009 The Dutch ban on short-selling of financial stocks is to end on 1 June, after the market regulator decided to end the restriction. The ban on short-selling was initially introduced at the height of the banking crisis in September last year.
Lloyds directors face new ire May 27, 2009 Three directors involved in Lloyds Banking Group’s takeover of HBOS face increased criticism from investors at next week’s annual general meeting, after proxy voting agency Manifest expressed “significant concerns” about the re-election of chairman Sir Victor Blank, Archie Kane and Sandy Leitch.
Adviser: What do I tell mum on Aviva? May 27, 2009 A DISGRUNTLED financial adviser has issued an open letter to Claire Spottiswoode, who represents the interests of policyholders at insurer Norwich Union, damning the group’s treatment of with-profits fund clients. Adviser David Trenner, of Glasgow advisory Intelligent Pensions, suggests his 82-year old mother is suffering as a policyholder at Norwich Union, which will be formally [...]
Nationwide in 69 per cent profit fall on protection fees May 27, 2009 NATIONWIDE, Britain’s largest building society, reported a 69 per cent drop in full-year pre-tax profits yesterday, blaming the decline on the costs of the government’s deposit protection scheme for savers. The mortgage provider and lender offered little sign of optimism in its outlook, warning of further loan loss provisions to come.The group said it was [...]
TOPPS SALES DROP EASES May 27, 2009 TOPPS Tiles yesterday said its rate of sales decline slowed in the early weeks of its second half. It it said sales at stores open more than a year fell 11.9 percent in the first seven weeks of its second half, less than the 18.5 percent slump seen in the 26 weeks to March 28. [...]