Short sighted CEOs need to re-focus June 15, 2011 60 per cent of management consultants think chief executives need to focus on long term planning rather than short term cost savings, according to a survey by FreshMinds Talent, the recruitment consultancy. When the consultants were asked what issue they believe is at the top of current chief executives’ agendas, long term plans were given [...]
Ernst & Young coaching mums June 15, 2011 In an effort to retain female staff, Ernst & Young have started coaching mums and mums-to-be among its staff. The coaching sessions are given before, during and after a member of staff’s maternity leave. They cover managing relationships with clients and colleagues, exploring alternative work patterns, and re-integrating into the workplace. Even line managers who have [...]
Rewarding deductions at Baker Street June 15, 2011 FROM their offices in Baker Street, Richard Hallett and his colleagues at Hargreave Hale are successfully detecting the right companies to bring in considerable returns. Alongside Giles Hargreave, Hallett manages the Marlborough Leading Companies fund. Although he is concerned about the macroeconomic outlook – particularly in Europe – he sees plenty of companies that offer [...]
An indelicate approach to regulation June 15, 2011 EARLIER this week, the chief executive officers of wealth management firms woke up, rubbed the sleep out of their eyes, and found a letter from the Financial Services Authority on their doormat. The letter pertained to the results of the FSA’s wealth management review. The review claimed that in a sample of 16 firms, 14 [...]
PERSONAL FINANCE NEWS June 15, 2011 BLOWING THE PENSION ON FAST CARS According to research from Prudential, 8 in 10 pensioners with company and private funds are taking lump sums averaging £21,500. They report that the average withdrawal is down 11 per cent on 2008, but an increasing number are blowing the cash on holidays, cars and DIY – potentially reducing [...]
Oil companies and banks help to push the FTSE 100 higher June 14, 2011 Britain’s top share index rose yesterday, with oil majors and banks gaining as above-forecast data from the United States and signs that the Chinese economy could avoid a hard landing boosted appetite for riskier assets. Britain’s FTSE 100 ended 29.67 points higher, or 0.5 per cent at 5,803.13 points, after inching up 0.1 per cent [...]
Retail figures drive US markets rally June 14, 2011 US stocks posted their biggest gains in nearly two months yesterday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market. Many analysts said the rally was likely a one-day wonder. Though still weak, the retail sales data was not as bad as most had expected, which [...]
Greek credit is burning as the euro plays it cool June 14, 2011 AT THE beginning of the week, ratings agency S&P downgraded Greece to CCC, a hair’s breadth above default. With it looking likely that bond holders will be asked to contribute to the next bailout for Greece, the country seems to be well and truly up the river tributary without ancillary means of locomotion. In the [...]
EURO-SWISSIE OFFERS THE CLUE TO RISK June 14, 2011 LAST week, European Central Bank (ECB) chief Jean-Claude Trichet uttered the fateful phrase, “strong vigilance”, signalling that the central bank would hike rates by 25 basis points in July, to 1.50 per cent. However, instead of rallying, the euro-dollar promptly fell four big figures in the wake of the announcement. Part of the reason for [...]
No supermarket sweep in sight as sterling falters June 14, 2011 BETTER than expected CPI figures released yesterday saw a temporary reversal in the recent sterling decline. Despite this, the pound remains in a broadly weak position against the major currencies. With investors lacking in any belief that Mervyn King will raise interest rates at any point soon, the pound is struggling to find a taker. [...]