CITY MOVES | WHO’S SWITCHING JOBS July 27, 2010 ERNST & YOUNG The accountancy firm has appointed Jonathan Summers to its information technology advisory team as a director focusing on strategic rationalisation, the process of removing technology complexity to improve business performance. Summer has over 14 years of experience with IBM, where his roles included establishing a global delivery capability for data migration in [...]
BEST OF THE BROKERS July 27, 2010 NATIONAL GRID Standard & Poor’s Equity Research (S&P) believes National Grid has delivered a strong operational and financial performance and gives it a “hold” rating. S&P said in the first quarter of 2011, US gas distribution volumes increased by 1.5 per cent and electricity was up 1.3 per cent, but UK gas volumes fell by [...]
Indemnity market must be liberalised July 27, 2010 THIS year’s round of Professional Indemnity Insurance (PII) renewals promises to be one of the most turbulent ever, but it could spur much-needed changes to the way the system is run. All law firms in England and Wales have to renew their PII by 1 October, but last week insurer Zurich, which insured 13 per [...]
Changes in extradition regime are a pipe dream July 27, 2010 CUBISM LAW OUR special relationship with the US has, of late, appeared rather strained. The noises from across the pond have been somewhat anti-British and not it seems influenced or restrained by any relationship, special or otherwise. The BP oil spill suddenly became the British Petroleum spill and the release of the Lockerbie bomber a [...]
Sterling’s time to shine July 27, 2010 STERLING might not have become the darling of the FX markets but it has certainly shed its image as their whipping boy. In what has been described as an ugly contest between the G4 currencies (US dollar, sterling, euro and yen), the pound is looking the rosiest. Last week’s GDP figures, which showed stunning growth [...]
DOLLAR HAS POTENTIAL TO REBOUND July 27, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT The biggest story in the currency market last week was not the Eurozone stress tests, but rather the surprisingly robust economic results reported by Germany and France. While the stress tests proved to be entirely anti-climactic, the news on the economic front was much better than expected. Eurozone flash PMI [...]
The real test for the euro is yet to come July 27, 2010 WITH the European Central Bank’s (ECB) stress tests now out, euro optimists are coming out of the woodwork. Goldman Sachs upgraded its forecast to predict the euro will hit $1.35 against the dollar in early 2011, while ETX Capital similarly forecasts that its current rally could last to the $1.35-36 level. Evolution Securities is likewise [...]
FOREX ANALYST PICKS July 27, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Short New Zealand dollar against the US dollar at $0.7350 Expertise: Classic technical analysis Average time frame of trades: 1 week-6 months Despite the latest surge, the market shows some formidable resistance on rallies above $0.7300 and we continue to like the idea of fading Kiwi support at this [...]
THE TIPSTER July 27, 2010 THE Canadian dollar continues to look strong on the back of a firmer oil price, especially against the yen, which is a net importer of oil. But having traded in a range of ¥86.40-¥82.00 over the last few weeks, the loonie looks to be testing the top of its recent range. Look to sell Canadian [...]
Emerging markets 2.0 July 27, 2010 INVESTORS have developed an addiction to emerging markets in recent years. But what happens when the traditional emerging economies of South East Asia start to mature? Where are the next fertile regions for growth? The frontier markets of the Middle East and North Africa, collectively known as the Mena region, are a good bet. Frontier [...]
