City Moves for 28 August 2013 | Who’s switching jobs August 27, 2013 Kleinwort Benson The private bank and wealth manager has appointed Joakim Gasslander as senior private banker in its private wealth management team. Based in London, he was previously senior private banker at Lloyds Private Banking. Gasslander has also held roles at Gadd & Co and SEB Private Bank in Stockholm, and has particular experience advising [...]
London Report: Syrian tension drags bank and mining stocks August 27, 2013 FINANCIALS and miners dragged Britain’s FTSE 100 lower yesterday as tensions in Syria and prospects of stimulus withdrawal by the US Federal Reserve crimped risk appetite. Reopening after a public holiday, London’s blue-chip shed 51.13 points, or 0.8 per cent to 6,440.97, costing the index all the previous session’s gains, albeit in low volumes. Crisis [...]
New York Report: Wall Street has worst trading day since June August 27, 2013 WALL Street stocks suffered their worst day since June yesterday, slumping in a broad decline as geopolitical uncertainty rose over a possible US-led military strike by the West against Syrian President Bashar al-Assad’s forces. The S&P 500 closed under its 100-day moving average for the first time since 24 June, a sign of weak near-term [...]
Driving down costs of car insurance August 27, 2013 Annabel Palmer on how customers could cut down their hefty London insurance premiums THE AA recently announced that comprehensive car insurance premiums saw their biggest fall since the motoring organisation’s records began in 1994. The average annual quote declined to £594.86 by the second quarter of this year, a 9.8 per cent drop from July [...]
Law firm Baker McKenzie sees record income August 27, 2013 LEGAL giant Baker & McKenzie is set to report record global fees and a 10 per cent hike in profits per partner (PEP) when it announces full-year results today. The law firm, which has around 750 staff in its largest base in London, said global fee income rose five per cent to $2.42bn (£1.56bn) in [...]
Two innovative ideas to cut your premiums August 27, 2013 THE INSURANCE market is not always seen as the most innovative sector, but this reputation may be undeserved. Major institutions, as well as new market entrants, increasingly provide inventive ways of helping you bring down your premiums. The rise of wearable technology – including fitness gadgets that track activities such as steps taken, calories burned [...]
Any Other Business – 28/08 August 27, 2013 ■ Square Mile stalwart and market commentator at Panmure Gordon David Buik is known for his poetic City commentary – often quoting the likes of Whitman, Shakespeare, Poe and Housman. But he began his daily missive with a more modern rhyme on Monday – and one that will be all too familiar to weary Bank [...]
US consumer confidence beats in August August 27, 2013 US consumer confidence has risen from 81 (revised up from 80.3) to 81.5 in August. Economists had forecast a flat reading at that unrevised figure of 80.3. The Richmond Fed manufacturing index was also strong in August, rising from -11 to 14. Amna Asaf, economist, Capital Economics: We suspect that the slide in gasoline prices may [...]
US house prices up 12.1 per cent on a year ago August 27, 2013 US house prices have risen by 12.1 per cent in the year to June, beating economist forecasts of a 12.0 per cent rise. The data from the S&P/Case-Shiller home price index is slightly lower than last month's 12.2 per cent growth.
MPs welcome recall of parliament to vote on Syria response August 27, 2013 Many MPs have taken to Twitter to welcome the recall of parliament. We've got some of their tweets below. Very pleased there will be a debate and vote in Commons on #Syria — Nick de Bois MP (@nickdebois) August 27, 2013 Pleased to see Parliament recalled to discuss Syria. Right thing to do. Regret need [...]