US stocks stage late rally to counteract euro fears May 25, 2010 US stocks staged a furious late-day rally yesterday to push the S&P 500 into positive territory as the focus shifted from European debt woes to buying after shares hit six-month lows. Major US indexes had fallen more than three per cent early in the session. The morning’s action reflected the market’s nervousness as the S&P [...]
New FSA vetting regime changing life in the City May 25, 2010 LAST week, the FSA secured an undertaking from former senior RBS executive Johnny Cameron that he would not work full-time in the financial services industry again. This weekend it emerged that ex-Morgan Stanley executive John Hyman would not be going through with his planned move to Nomura because the regulator had asked that his FSA [...]
EU’s regulation land-grab harms funds sector May 25, 2010 THE Alternative Investment Fund Managers Directive took a significant step towards becoming law last week after being approved by the European Council. While a lot of commentary has focused on the high profile hedge fund sector, the directive will regulate all European managers of private funds irrespective of the underlying asset class. In addition to [...]
It’s party time May 25, 2010 SOUNDWAVE When: 23 to 25 July Where: Petrcane, Croatia What: Soundwave is an idyllic holiday and festival in one. Set in a small fishing village on a Croatian peninsular where the Dalmation Coast meets the Adriatic Sea, the event offers an inland amphitheatre for bands, a beachside terrace that transforms into a nightclub after the [...]
OUT OF OFFICE May 25, 2010 RIEDEL WINE TASTING Don’t miss Riedel’s legendary wine and glass comparative tasting on 11 June, conducted by Georg Riedel, 10th generation master glassmaker and head of the wine glass company. In a unique wine and glass tasting, Riedel will demonstrate the relationship between the shape of a glass and our perception and enjoyment of wines. [...]
Sport & spark May 25, 2010 THE EX37 is perplexing. Most cars are remarkably easy to understand. With one look at the exterior and a sit inside and you can pretty much get a grip on what kind of car you’re in and have some idea of the kind of person it has been designed for. But not this one. It’s [...]
Coalition agenda set out in Queen’s Speech May 25, 2010 THE Queen has outlined the programme of laws the UK’s coalition wants to push through over the next 18 months. Measures include a shake-up in the electoral system with the prospect of five-year fix-termed parliaments. Plans to introduce ID cards will be ditched under the new coalition government, which said it was aiming to “rebalance” [...]
GDP growth higher than estimated May 25, 2010 STRONGER industrial production in the first quarter helped to nudge GDP growth up to 0.3 per cent although the economic picture remains lacklustre. The upward revision of 0.1 per cent will nevertheless provide a small boost to the new Coalition government, which faces the daunting task of toning up the UK’s finances. Howard Archer, chief [...]
Global markets fall May 25, 2010 GLOBAL stock markets are plunging over fears about the debt problems in the eurozone and mounting tension between South and North Korea. The FTSE 100 in London was down by 2.6 per cent, while Germany’s Dax dropped 2.3 per cent and France’s Cac 2.74 per cent. The falls followed plunges in Asian markets overnight. Stocks [...]
Homeserve raises dividend after profit surge May 25, 2010 HOME insurance group Homeserve hiked its dividend by nearly a quarter and reported a 13 per cent rise in full-year profit, boosted by international growth and strong customer retention. The company reported an underlying pre-tax profit for the year to end-March of £100.6m. compared with £88.7m for its restated 2009 profit. Market expectations had predicted [...]
