CITY MOVES | WHO’S SWITCHING JOBS January 10, 2012 Hamilton Lane The independent private equity asset manager has expanded its global investment team by appointing Richard Hope as vice president in the London office. Hope will report to Jim Strang, who recently joined Hamilton Lane as a principal. Prior to joining the firm, Hope was a director at Alliance Trust Equity Partners, where he [...]
BEST OF THE BROKERS January 10, 2012 RECKITT BENCKISER Credit Suisse rates the consumer goods group “outperform” but has cut its target price from £40 to £38. The broker thinks Reckitt’s business model is still healthy, and that concerns over the sustainability of its margins have been overdone. The firm is suffering somewhat in Europe due to expanding rivals, though Credit Suisse [...]
EPISODE 41 – WHAT DID YOU GET FOR XMAS, DAVID? January 10, 2012 Daddy, isn’t it that Santa’s too fat to get down chimneys these days? Daddy, can I have a Millennium Falcon for Christmas? David, what time are your parents coming for lunch on Boxing Day? David? Oh, hello, it’s Juliette. Sorry to trouble you at home. I’m afraid I didn’t get around to sending cards this [...]
Nomura executive Bhattal quits after heavy losses January 10, 2012 Jesse Bhattal, the highest-ranking ex-Lehman Brothers executive at Japanese investment bank Nomura Holdings, has resigned after the wholesale division he led suffered heavy losses. The loss of Bhattal is the latest blow to Nomura’s ambitions to join the elite ranks of global investment banks following its acquisition of Lehman’s European and Asian operations after the [...]
Tesco loses market share in run-up to Xmas January 10, 2012 Britain’s biggest retailer, lost grocery market share in the run-up to Christmas as rivals fought back against its price-cutting campaign and cash-strapped shoppers flocked to discount stores, according to new data. Market researcher Kantar Worldpanel said grocery sales rose 4.8 per cent in the 12 weeks to 25 December. That lagged a 5.9 per cent [...]
Resource stocks stoke FTSE gains January 10, 2012 The FTSE 100 saw solid gains this morning as resource and energy stocks were boosted by upbeat forecasts from US aluminium giant Alcoa and figures showing growing demand from China. Alcoa, the largest US aluminium producer, reported fourth-quarter revenue that beat Wall Street expectations, even though it registered a loss. The earnings news had a [...]
Recruiter Hays hit by domestic slowdown January 10, 2012 Tough economic conditions have hit the confidence of employers and jobseekers alike in recent months, British recruitment company Hays said in reporting a drop in business in its home market and a slowdown in growth overseas. Hays, which specialises in placing office workers such as accountants, IT workers and secretaries, said on Tuesday net fees [...]
High speed rail line gets the green light January 10, 2012 A new £32bn high-speed rail line between London and Birmingham has been given the go ahead by the government. Transport Secretary Justine Greening has announced extra tunnelling for sections of the 90-mile (140km) link in response to environmental concerns. This first phase of High Speed Two (HS2) could be built by 2026. The first phase [...]
Swatch reports record sales January 10, 2012 Swatch Group, the world’s largest watchmaker, shrugged off the impact of the strong Swiss franc to post record sales in 2011 and said it is confident of more growth in 2012. The group, which is best known for its colourful plastic Swatch watches, said sales rose 21.7 per cent at constant rates in 2011 compared [...]
Debenhams trading nudges over forecasts January 10, 2012 Debenhams posted a better than expected performance in underlying sales in the last 18 weeks, proving it could trade well through even the most difficult of conditions. Shares in the department store group lifted by eight per cent after it said it had enjoyed record sales in the final week before Christmas, as its diverse [...]