Crispin Davis set to retire as Reed CEO July 14, 2008 Publishing giant Reed Elsevier has begun searching for a successor to replace chief executive Sir Crispin Davis –one of the longest serving FTSE 100 bosses– when he steps down next year. Headhunter Anna Mann has been recruited to find a replacement from a mix of both internal and external candidates. Davis, who turns 60 this [...]
This crisis shows what lies in wait for the rest of the City July 14, 2008 While Dawnay Day is no household name, the crisis that has engulfed the privately-owned investment giant in recent days will be remembered as a key milestone in the credit crunch. A perfect microcosm of the unravelling of the great financial boom of the noughties, Dawnay’s woes are being followed especially closely by London’s huge Mayfair-based [...]
Bischoff joins City talkshop July 14, 2008 Chancellor Alistair Darling is to chair a working group looking at competitiveness in Britain which will include Citigroup chairman Sir Win Bischoff. The group will meet once a month and will analyse matters affecting the London financial services industry such as the effects of the subprime mortgage meltdown in America which triggered the credit crunch, [...]
US problems expected to spread to UK July 14, 2008 The crisis at America’s biggest mortgage firms Fannie Mae and Freddie Mac may be occurring across the Atlantic but the shockwaves will be felt in the UK, experts warn. Speculation that US regulators were last night preparing to step-in to rescue the two companies, which are owned by shareholders but have government-sponsorship, was greeted with [...]
Housing recession creeping closer as Barratt cuts jobs July 11, 2008 Leading economists predicted yesterday that house prices will fall by 35 per cent by the end of next year, as lender Halifax reported a 2 per cent slump in values last month. Britain’s biggest mortgage lender said that house prices are already 6.1 per cent lower than last June, fuelling fears Britain is heading for [...]
Citi private bank in new accounts ban July 11, 2008 Leaked documents show American group to tighten anti-money laundering controls Citigroup’s private banking division, which globally has $28bn assets under management, has ceased taking new UK customers because of concerns over its anti-money laundering procedures, City A.M. can reveal. Leaked internal documents show that Citibank International Personal Bank (IPB) this week barred its staff from [...]
Cole dig at Mourinho and Grant over negative style July 11, 2008 Chelsea midfielder Joe Cole has aimed a dig at former Blues managers Jose Mourinho and Avram Grant, accusing the pair of not wanting to play “the right way”. Cole says he is delighted at the arrival of former Portugal boss Luiz Felipe Scolari, who welcomed the players back for pre-season training this week. And in [...]
Classy final proves a hit with punters July 11, 2008 Betdaq’s PR Director Russ Wiseman looks back at a busy week on the exchange… Most people would agree that last Sunday we witnessed he greatest tennis match ever played in the Wimbledon final between new champion Rafael Nadal and Roger Federer. The amazing spectacle also produced arguably the most tremendous betting event we have yet [...]
Dance the night away on course July 11, 2008 Last weekend saw a thrilling finish to the 2008 Coral-Eclipse with 14,000 people flocking to Sandown Park to attend their biggest Flat race day of the season. Racegoers were rewarded with stunning weather and a fantastic finish to the £500,000 CoralEclipse with the brilliantly ridden Mount Nelson just getting up on the line to deny [...]
Putt your money on Garcia missing out on glory again July 11, 2008 Royal Birkdale hosts the Open for the ninth time next week, without Tiger Woods, but with plenty of others from the 1998 Championship (the last time the tournament was held at the course). All those returning to Birkdale will find it 150 yards longer than a decade ago at 7,173 yards. However, the extra yardage [...]
