TUC BOSS BRENDAN BARBER TO STEP DOWN April 18, 2012 TRADES Union Congress general secretary Brendan Barber yesterday announced he will stand down from the role at the end of the year, after 10 years in the job. TUC president Paul Kenny praised his “immense contribution to the trade union movement.” Barber’s replacement will be elected at the 2012 congress in September.
CME Group eyes Black Sea future April 18, 2012 CME Group said yesterday it would launch a Black Sea wheat futures contract in June, if approved by regulators, marking the exchange’s first foray into a non-US based wheat contract. Tim Andriesen, managing director for Agricultural Commodities and Alternative Investments for the CME group, said “We firmly believe this contract will not only establish an [...]
Saga lashes out at Bank’s QE April 18, 2012 Saga warned yesterday of increased inflation and damaged pensions if quantitive easing (QE) continues, arguing that it is not as effective in boosting the economy as originally intended. Saga chief Ros Altmann called on the government to minimise the damage of QE on pensions and find alternatives for boosting the economy. The comments come after [...]
CITY MOVES WHO’S SWITCHING JOBS April 18, 2012 Sberbank As part of the integration of Sberbank of Russia and Troika Dialog, Elena Shilina has been appointed head of the private banking group. She will report directly to Ruben Vardarian, president of Troika. Since May 2011, Shilina has headed the Sberbank-Troika integration committee. She has previously worked for Nomos Bank as vice-president, McKinsey, Rosbank [...]
BEST of the BROKERS April 18, 2012 HISCOX JP Morgan has raised its price target on the insurer from 420p to 430p with a “neutral” rating, saying it should appeal to investors seeking exposure to a Lloyd’s speciality insurer with a low risk profile, that is more defensive than some of its peers. WOLSELEY Berenberg Bank has maintained its “buy” recommendation on [...]
Euro fears and ex-divi stocks see FTSE slide after two days of gains April 18, 2012 BRITAIN’S leading share index dipped into negative territory yesterday, pulled down by a set of ex-dividend stocks, while fears of another blow-up in the Eurozone crisis kept investors nervy ahead of a Spanish debt auction. The FTSE 100 index closed down 21.66 points, or 0.4 per cent at 5,745.29, after two days of gains, as [...]
Lacklustre US results drag on Wall Street April 18, 2012 US stocks slipped yesterday, a day after Wall Street’s best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits. Chesapeake Energy dropped 5.5 per cent to $18.06 and was the most actively traded stock on the New York Stock Exchange after a Reuters report [...]
Five reasons inflation needs to be stopped before the bubble bursts April 18, 2012 THE Treasury Select Committee hit the nail on the head yesterday, when it pointed out that savers and pensioners are suffering as a result of the Bank of England’s low interest rates and quantitative easing. Disappointingly, the Committee urged the government to compensate pensioners for their losses, rather than to attack the root cause: the [...]
Who is Mitt Romney? Obama’s bid to define his opponent risks backfiring April 18, 2012 AND so it begins – the presidential election in earnest. Welcome to the next seven months of frivolous finger pointing, robo-calls, and daily polls. “Even now we have pundits on cable news telling us about the importance of the polls,” remarked one Republican strategist. “They’re lying.” For President Barack Obama and former governor Mitt Romney, [...]
One small step for a business means a leap for growth April 18, 2012 IT IS encouraging that UK unemployment has registered its first fall since last spring. However, it is still at alarming levels, with long-term unemployment at its worst for 16 years, according to the Office for National Statistics. In these difficult times, it’s vital not to underestimate the power of small business. If a quarter of [...]
