Michael Page rebuffs bid from Adecco August 6, 2008 A bid significantly above £1bn will be needed to secure recruitment firm Michael Page, analysts said yesterday, as Swiss rival Adecco confirmed an approach. Adecco’s bid approach, which it said was at an early stage, was believed to be around 350p a share, a level deemed too low by analysts. “On valuation ,(the) rumoured 350-370 [...]
L&G rises despite fall in first half profit August 6, 2008 Legal & General saw its first-half profits plummet after stock market volatility wiped out the value of its investments, but the group’s shares climbed as it grew new business by 8 per cent. Under European Embedded Value accounting rules, first half post-tax profits fell from £672m to £56m, taking into account the fall in L&G’s [...]
Turquoise to slash trading costs in price war with LSE August 6, 2008 Turquoise, the new trading platform, is planning sweeping price cuts ahead of its launch later this month as it prepares for a vicious price war with the London Stock Exchange (LSE), City A.M. can reveal. The counter-attack by Turquoise, run by a consortium of nine top City banks, follows the announcement by the LSE last [...]
The top five tools to improve your trading August 5, 2008 Master technical analysis, but don’t get too bogged down in the details, says Katie Hope Any body logging onto a retail contracts for difference (CFD) trading platform for the first time could end up a bit dazzled. It’s like an online 80s disco, all flashing lights and neon colours. Just add some leg warmers and [...]
Summer volatility means rich pickings August 4, 2008 Traders should stay disciplined to make the most of unusual summer markets, says Sandy Jadeja With holiday season upon us, minds are turning to currencies. With the dollar so weak against the pound, a trip to the US looks like a better bet than Europe at the moment. I am planning to take a break [...]
Buying property on a golf course can be an above par investment July 31, 2008 Look to the States or Morocco for a sporting second home, writes Alex Delmar-Morgan As the Open Championship at Royal Birkdale reached its nail-biting conclusion recently, with Irishman Padraig Harrington pipping veteran Aussie Greg Norman to win the claret jug, many around the country were surely visualising themselves ambling round a gold-course, driver in hand, [...]
Windfall bonus for 1m Norwich Union policyholders as firm sees profits surge July 31, 2008 Claire Spottiswoode delivered on months of marathon negotiations yesterday after 1m Norwich Union policyholders will be offered pay outs of around £1000 each. Aviva, the group’s parent company, is offering cash to qualifying customers in two of its with-profits funds, in exchange for buying out their right for any future pay-outs or redistribution of money. [...]
Bean-count your way to the top July 30, 2008 If you’re clever, an accountancy career can be a route to corporate success, says Chris Higson Not so long ago, people were predicting the eclipse of the accountancy profession. Accountancy had always been a reliable route to the top, particularly in the UK, but perhaps this was changing. It looked as though other countries got [...]
The CFA is a mark of talent and also trust July 30, 2008 | City Talk In these troubled times, employers want people who know the basics, says Nitin Mehta In recent years, a host of new products have been launched which promise to help professionals working in the investment industry. Often, these qualifications have been accompanied by hype and hope and not a lot else. In the current conditions, many [...]
New Caz boss: I won’t turn us into sharks July 29, 2008 JP Morgan Cazenove’s brand new CEO Naguib Kheraj has a long history in investment banking, having worked at Salomon Brothers and Robert Fleming prior to a 10-year career at Barclays. He joins the British investment bank at an opportune moment, as the famously blue-blooded organisation looks for experienced heads to guide it into the future. [...]
