Rush for top job at KPMG January 11, 2012 KPMG, the audit and consulting group, is gearing up for a widely contested battle to succeed John Griffith-Jones as chairman of the firm’s UK unit. Sources have said that the race to replace Griffith-Jones, who is due to step down in September, has attracted up to as many as ten candidates with no obvious front-runner [...]
Life isn’t just – but self-belief works January 11, 2012 SOMETIMES, willing something to happen actually works. If you are young and want to make lots of money when you grow up, you are actually much more likely to end up richer than those of your peers with a more relaxed attitude to wealth. The first prerequisite to becoming rich is to want to become [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 11, 2012 FINANCIAL TIMES BANK OFFERS TRADES FOR EUROZONE SHORTING Credit Suisse is offering its hedge fund clients off-the-shelf products that allow traders to replicate hypothetical gains made by betting against European stock indices that include equities covered by Eurozone short selling bans. The bank has made five shortable baskets “optimised” to track leading European indices as [...]
More bankers wave goodbye January 11, 2012 Goldman Sachs yesterday reported the departure of the co-heads of its global securities division. Edward Eisler and David Heller will retire from Goldman after working there for 18 and 22 years respectively, remaining as senior directors. Isabelle Ealet, currently global head of commodities, will take their place. And RBS will today unveil restructuring plans which [...]
Olympus seeks equity partner January 11, 2012 Scandalised Olympus, while better known to consumers as a camera maker, could be saved by its prestigious gastro-intestinal endoscope business which may well appeal to investors. The company is in discussion with prospective investors in search of an equity-for-cash deal, according to Japanese media.
Fed reports improved growth January 11, 2012 The Fed’s Beige Book last night confirmed improving economic conditions in the US. Most districts reported “more favourable conditions than identified in reports from the late spring through early fall”.
Alex Salmond backed RBS’s ABN disaster January 11, 2012 SCOTLAND’S first minister Alex Salmond’s enthusiastic backing of Royal Bank of Scotland’s disastrous takeover of ABN Amro returned to haunt him yesterday. A letter, released yesterday, shows that Salmond wrote to RBS boss Sir Fred Goodwin (pictured) in May 2007 to throw his weight behind the bank’s disastrous purchase. Signing the note, “Yours for Scotland”, Salmond [...]
Small win, but no safeguards, in euro treaty January 11, 2012 A NEW draft of the Eurozone’s “fiscal compact” emerged yesterday that appeared to show some movement towards the UK’s negotiating position. The draft, published by the think-tank Open Europe, takes out all reference to the single market – the whole EU – in favour of applying new fiscal rules only to Eurozone members. But it [...]
UK ready to cough up for IMF billions January 11, 2012 BRITAIN will contribute billions to boost the firepower of the International Monetary Fund (IMF) alongside other shareholders, chancellor George Osborne told MPs yesterday. Significantly, he refused to rule out the idea that the UK could cough up more in proportion to its 4.5 per cent shareholding of the fund than other countries. In fact, with [...]
Barnier: EU to create rival Vickers ring-fence regime January 11, 2012 EUROPE will propose its own regulations for structural reform of the banking sector within months, EU commissioner Michel Barnier declared yesterday, throwing open the possibility of a rival proposal to the Vickers Commission being imposed by Brussels. Barnier told reporters yesterday: “Before the end of January, I will put in place, in agreement with [European Commission] [...]
