Top pair head Gold Cup entries January 11, 2012 HORSE RACING: Two-time winner Kauto Star and defending champion Long Run head 34 entries for the Cheltenham Gold Cup in March. All-time great Kauto Star was third last year but has already beaten the Nicky Henderson-trained Long Run twice this season, most recently in the King George VI Chase at Kempton.
Crunch easing for euro banks January 11, 2012 THE EUROPEAN Central Bank (ECB) has succeeded in kick-starting bank funding markets, prompting a rush to issue debt that has reached levels not seen since before the latest credit crunch took hold. Funding costs for banks on the continent have plunged to their lowest level since April on the back of a flood of new [...]
US regulator in favour of Volcker rule January 11, 2012 US REGULATORS came a step closer to implementing the Dodd-Frank rules on banking yesterday, after laying out a fresh draft of the Volcker rule and giving more protection to collateral in swaps deals. The Volcker rule, under the Dodd-Frank Act, prevents banks that hold customer deposits from proprietary trading, on the basis that it could [...]
Swiss banker will get a full 2012 salary January 11, 2012 OUSTED Swiss banker Philipp Hildebrand will receive a full year’s salary for 2012 of around SwFr862,000 (£590,000), despite stepping down from his role as central bank governor just nine days into the year. Hildebrand was apparently pressured to quit on Monday, after a string of emails from his personal banking adviser failed to clear up [...]
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”.
