CAREERS CLINIC September 23, 2009 DR LYNDA GRATTONLONDON BUSINESS SCHOOL I’m a manager in a struggling private equity division. Morale is low, and I’m losing confidence in my abilities to motivate the team and make decisions. How can I lead more effectively? YOU’RE in a very common situation in the City at the moment, with small teams of highly-paid and [...]
At 89, the champion of horse thrillers has finally slowed down September 23, 2009 EVEN MONEYBY DICK FRANCIS AND FELIX FRANCISMichael Joseph, £18.99 THE action opens at a racecourse – where else? Ned Talbot, an independent bookie, is at Royal Ascot drawing to the end of an unlucky day in which the punters keep winning. As with many Francis heroes, Ned’s feeling a bit weary with life. His wife [...]
THE JOY OF A GOOD STOVE September 23, 2009 JEFF GALVINWE FOLLOW THE GALVIN BROTHERS AS THEY COUNT DOWN TO THE OPENING OF THEIR NEW CITY RESTAURANT A GOOD STOVE is the heart of any restaurant, so you just have to make sure it’s right. Which is why for our new restaurant my brother Chris and I have designed our own, which was made [...]
CITY MOVES WHO’S SWITCHING JOBS September 23, 2009 HSBC Private BankHSBC has appointed Willem Sels to head up its fixed income strategy for the UK private banking division, focusing on building bond-focused client solutions in sovereign and credit markets. Sels, who in his spare time is an accomplished pianist, holding five Belgian national awards in classical music, joins from Dresdner Kleinwort, where he [...]
BHP boss nets $10m package September 23, 2009 BHP BILLITON’S chief executive Marius Kloppers was paid 51 per cent more this year, the group’s annual report showed yesterday, despite the mining giant’s profits slumping by 62 per cent last year. Kloppers’ remuneration package came in at more than $10m (£6.3m) for the 12 months to June. Last year he received $6.8m. His pay [...]
CITY VIEWS: ARE LORD TURNER’S CRITICISMS OF THE CITY HELPFUL OR DAMAGING? September 23, 2009 ALLISTER AUGUSTIN ABN AMRO“It’s good that he’s addressed issues in banking, but it’s counterproductive not to give a solution to the problem. A lot of people are saying that it all very well for him to criticise, when he has already made his money from banking.” TONY COTTRELL ALLIANZ“He’s entitled to get on with his [...]
United profit withstands September 23, 2009 UNITED UTILITIES, the water company, said its forecast for underlying operating profits over the six months to the end of September were in line with expectations, despite cost pressures. United, which supplies around 7m customers across the north west, said revenue growth in its regulated business for the year would be lower than the six [...]
BEST OF THE BROKERS September 23, 2009 MOTHERCARENoble initiated coverage on Mothercare with a “neutral” rating and a 600p target price, saying the stock offers one of the best longer-term growth stories in the retail sector. In the short-term, the broker thinks that synergies from the Early Learning Centre and property restructuring benefits will help to withstand macro headwinds.CARNIVALCharles Stanley upgraded Carnival [...]
National Grid’s UK dominance under threat September 23, 2009 NATIONAL GRID’s monopoly on electricity in England and Wales is set to be challenged by 12 companies, the sector’s regulator Ofgem said yesterday. Equitix, a PFI specialist, and Balfour Beatty, which was yesterday fined for price-rigging in its construction bids, are among those challenging the utility’s dominance. They will be bidding to operate £1.15bn of [...]
Analysts say Lloyds could still exit APS September 23, 2009 LLOYDS Banking Group could avoid the government’s Asset Protection Scheme (APS) altogether if it can raise £16bn via a rights issue, analysts from stockbroker Execution said yesterday. The APS is a “sub-optimal way to recapitalise the sector”, analysts led by Joseph Dickerson said, adding that rights issue would lower the bank’s wholesale funding costs. “Our [...]
