London 2012 IMAGE OF THE WEEK November 3, 2011 This week Kevin McCloud (far right) and other London 2012 Sustainability Ambassadors, including entrepreneur Deborah Meaden (far left), visited the grand designs of the Olympic Park. Meaden said: “I am genuinely excited about what we have achieved and can’t wait to share it with the world in 2012.” Between now and the 2012 Games, City [...]
Firms are unclear on FPC’s role November 3, 2011 TOO LITTLE is known about the new Financial Policy Committee’s (FPC) role and instruments and how it will impact on lenders, Paul Smee, director-general of the Council of Mortgage Lenders (CML) said yesterday. Smee warned the post-Financial Services Authority (FSA) landscape for mortgages is going to become more complex under the Prudential Regulation Authority and [...]
US economy shows modest growth as services and jobs stay slightly positive November 3, 2011 THE US economy has so far managed to avoid the recessionary downturn the Eurozone risks entering, with positive service sector, employment and productivity figures out yesterday. Non-manufacturing purchasing managers’ index (PMI) data from the Institute for Supply Management (ISM) came in at 52.9, barely down on September’s 53, demonstrating growth consistent with a modest economic [...]
CITY MOVES | WHO’S SWITCHING JOBS November 3, 2011 Jupiter Unit Trust Managers Simon Somerville (left), deputy manager of the Jupiter global managed fund, will take over as manager of the £256m fund from John Chatfeild-Roberts on 14 November. Chatfeild-Roberts will become deputy manager of the fund. Somerville, who joined Jupiter in 2005 from the position of head of global equities at Cazenove, will [...]
BEST OF THE BROKERS November 3, 2011 INTERNATIONAL AIRLINES GROUP Nomura rates the airline group as a “buy” with a target price of 265p, but says the group’s strong third quarter results in 2010 will be difficult to replicate this year. The broker expects yields to rise 1.5 per cent, and the fuel bill to rise by just over €300m year-on-year, in [...]
FTSE ends the day higher on EU hope November 3, 2011 INVESTORS shrugged off chaos in the Eurozone as Britain’s top share index climbed higher yesterday, with leaders of the most powerful nations meeting in France in an effort to solve Europe’s crippling debt crisis. London’s blue chip index rose 61.54 points, or 1.1 per cent, to 5,545.64, as the index continued to recoup the sharp [...]
Stocks rally on Greece November 3, 2011 US stocks rallied for a second day yesterday as Greece backed away from a proposed referendum that threatened its membership in the euro. The European Central Bank also provided a happy surprise early to investors with an interest rate cut, a sign of a more aggressive approach to confront weak growth in the region. “There’s [...]
Four years into a succession of crises and still no reform: Time for some Long Finance November 3, 2011 FOUR years into a series of financial crises, from Bear Stearns and liquidity shocks in 2007, to Lehman and RBS failures, Irish and Icelandic collapses, and now Eurozone currency-quakes, there have been no financial reforms to match the magnitude of the problems. An Olympiad later, the world feels more brittle and people jump at any [...]
Leaving a legacy doesn’t just have to be a metaphor November 3, 2011 YOU can give without suffering. That is the heart of the launch of my new Legacy10 campaign. The donor will not feel the pain while they’re alive, even if their children might be a little worse off, but the charities that benefit from our generosity can be exponentially better off. The reality is that we [...]
The zombie menace of anti-capitalist thought November 3, 2011 WHEN the Occupy protest movement began, how twenty-first century it seemed: leaderless, emergent and driven by a fury at unprecedented cronyism between high finance and high politics. But how quickly it has decayed, in its London incarnation at least, into reheated anti-capitalist slogans with nothing original to say. Commerce is ancient, and so is the [...]
