CITY MOVES WHO’S SWITCHING JOBS June 21, 2009 FormjetThe alternative software firm has appointed Andrew Monk, the former chief executive of stockbroker Blue Oar, as its new chief executive. Monk previously founded and jointly ran Oriel Securities, which, like Blue Oar, he named after his rowing exploits at Oxford University. Blue Oar has since been rebranded as Astaire under new chief executive Edward [...]
Lloyds to help struggling firms June 21, 2009 Lloyds Banking Group yesterday confirmed that it will beef up its corporate restructuring team to help struggling companies battle through the recession. The bank has already increased the size of its restructuring team from 250 employees to 400 in the past 12 months, but plans to increase the headcount to 800 by the end of [...]
Banks face ‘unfair’ charges bill June 21, 2009 British banks could be facing a multi-billion pound bill, depending on the outcome of a House of Lords hearing into “unfair” bank charges, which begins this week. The case, which opens tomorrow in the upper chamber, will determine whether or not to overturn an Appeal Court decision ruling that seven banks which charged customers for [...]
Lords defy Darling on pensions June 21, 2009 Chancellor Alistair Darling will face harsh criticism over his plans to tax pension provisions, with the publication of a report by the House of Lords economic affairs committee this week. The committee, led by Lord Vallance, will say that the plans outlined in the chancellor’s Budget, will affect far more people than the chancellor has [...]
How the King of the UK back office plans to keep his business growing June 21, 2009 IT is fascinating to listen to David Andrews talk about his business. For most of us, back offices may seem deadly boring – but when you discover Andrew’s passion for Xchanging, the FTSE 250 back office outsourcing giant he founded 10 years ago, you suddenly realise just how true it is that finance and corporate [...]
THE LONDON REPORT June 21, 2009 THE JUNE gauntlet of retail company statements is set to continue this week, with two UK electronics giants due to issue full-year 2009 results. DSG, Kesa and Inchcape are lining up to report, following last week’s announcements from Tesco, J Sainsbury, Whitbread and Morrison. Kesa Electricals, which runs electronics store Comet among its Europe-wide retail [...]
MARTIN ON THE MARKETS June 21, 2009 AFTER three months of virtually non-stop rallying, are the brakes finally on? Despite a US data-led push ahead on Friday, the FTSE 100 index still finished the week down nearly 100 points. Even Friday’s fight-back may be tested this morning following a fade in US stocks after London’s close. GFT is calling the FTSE to [...]
British stocks lead the way in defence aerospace boom June 21, 2009 IT was a bad few days for civil aerospace firms at the Paris Air Show last week. After the first four days, total orders and commitments for civil aircraft totalled $14.1bn. To put that in context, at Farnborough in 2008, total orders and commitments for Airbus and Boeing alone came to more than $64bn. The [...]
TROUGHING UK ECONOMY WILL BOOST POUND June 21, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COM WE might still be knee deep in recession, but policy makers have started to talk about how they will mop up in the aftermath of their generous fiscal and monetary incentives. In essence, it is prudent that this discussion takes place now. Even when deflation was a real fear in many [...]
THE TIPSTER June 21, 2009 BUYERS have been snapping up banks with decimated share prices, but there are still some crisis-resilient picks in the financial sector, such as Standard Chartered. On Thursday the bank will be in the spotlight when it releases its trading update. It has managed to survive the credit crunch relatively unscathed and its share price has [...]
