OUT OF OFFICE August 31, 2011 BOOK NOW: EPICUREAN DREAM BRINGS TOGETHER THE VERY BEST For a truly first-rate foodie affair, blot out 9 and 10 September in your diary. Quintessentially Epicure is a luxury food festival at the Hurlingham Club that will see some of the world’s most renowned chefs including Hèlène Darroze, Marcus Wareing, Brett Graham, Giorgio Locatelli and [...]
HOW JAMES MURDOCH CAN TRUMP BROOKS’S August 31, 2011 GOOD NEWS for anyone looking forward to joining James Murdoch at the bar of the prestigious gentlemen’s club Brooks’s, as its secretary Graham Snell has confirmed all is not yet lost for the News Corp heir’s membership application. As those of you who read The Capitalist’s original story on 9 August will recall, things were [...]
FSA fines Swift Trade £8m for market abuse August 31, 2011 The Financial Services Authority (FSA) has fined Swift Trade £8m for market abuse, a decision the now-dissolved Canadian firm is appealing. “In the FSA’s opinion, between 1 January 2007 and 4 January 2008, Swift Trade’s manipulative trading caused a succession of small price movements in a wide range of individual shares on the London Stock [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
Eurozone inflation steady but unemployment up August 31, 2011 Eurozone annual inflation was unchanged in August while the number of people without jobs grew, data showed on Wednesday, adding to expectations that the next ECB interest rate move could be a cut rather than a hike. EU statistics office Eurostat said inflation in the 17 countries using the euro was 2.5 per cent year-on-year [...]
Southern Cross chief to stand down with no severance pay August 31, 2011 The chief executive of failed care home operator Southern Cross is to step down, the company’s board said. Jamie Buchan joined the company in 2009 with the task of turning it around. The board said his anticipated departure was “part of the financial restructuring of the group” and would happen “once the process of transitioning [...]
Bailiffs raid Moscow office of BP unit August 31, 2011 Bailiffs raided BP’s Moscow offices on Wednesday, causing new problems for the oil company a day after ExxonMobil signed a deal that ended BP’s hopes of developing Arctic offshore oil fields with Russia. The morning raid, in which about 15 black-clad special force officers entered the central Moscow headquarters of BP Trading and sealed it [...]
INDIAN CITY OASIS SEEKS WINE-LOVING RESIDENTS August 31, 2011 BENGALARU is becoming one of the most important global centres for technology and India’s most developed city. So the IT capital formerly known as Bangalore was the obvious choice for the latest multimillion-pound scheme from Vinay Kapoor, the president and chief executive of Westcourt UK, who contributed to the design and development of the World [...]
Posen urges more QE from G7 August 31, 2011 Central banks across advanced economies should buy more financial assets in a last-ditch attempt to support growth, Bank of England policymaker Adam Posen has said. Advanced economies face no real inflation danger, and the limited effect of previous rounds of quantitative easing in the United States and Britain mean more is needed, Posen wrote in [...]
Carrefour issues profit warning August 31, 2011 Europe’s largest retailer, Carrefour, warned full-year profits would slump 15 percent as it cuts prices in a bid to reverse market share losses in its home market and elsewhere in Europe. Carrefour also unveiled a well-flagged 22 per cent fall in first-half operating profit on Wednesday and cautioned that the economic climate was “increasingly challenging.” [...]
