Icahn keeps it in the family August 14, 2012 Billionaire investor Carl Icahn has given his son Brett $3bn to test his mettle as a money manager. Having hired his son as an investment analyst a decade ago, Icahn has now allocated the funds to Brett to manage alongside fellow Icahn Capital manager David Schechter.
Wells Fargo settles SEC charges August 14, 2012 US bank Wells Fargo has said it will pay more than $6.5m to settle civil charges alleging it sold complex mortgage-backed instruments to municipalities and non-profits during the financial crisis without fully disclosing the risks.
BBC’s Thompson moves to NYT August 14, 2012 The New York Times has tapped former BBC director general Mark Thompson as its next president and chief executive, capping an eight-month search for an executive to lead the company as more people get their news through digital products. He will start in his new role in November.
City Moves | Who’s switching Jobs August 14, 2012 Savills Marcus Lemli has been appointed head of the real estate adviser’s German business. He currently leads its European investment operation. He joined Savills earlier this year from Jones Lang La Salle, where he headed its capital markets and leasing businesses. Coutts Keith Wilson has been appointed managing director, head of products and services development [...]
BEST of the BROKERS August 14, 2012 ITV Nomura has moved the broadcaster from “neutral” to “buy”, saying the firm’s cost-cutting measures are on track and will bolster profits. The bank raised the target price to 115p. MICRO FOCUS INTERNATIONAL UBS has upgraded the software firm from “neutral” to buy with a target price of 600p. UBS says Micro Focus is a [...]
FTSE rises on hope of stimulus and jumps in bank and energy stocks August 14, 2012 STRENGTH in risk-sensitive energy and financial stocks hauled Britain’s leading share index higher yesterday, as investors continued to focus on hopes for fresh stimulus measures from central banks to spur global growth. These hopes were balanced by second-quarter GDP data from France and Germany which came in above forecasts, easing concerns about the Eurozone’s two [...]
Retailers pick up during light Wall St trading August 14, 2012 US stocks ended little changed yesterday in what investors described as a fatigued market after the S&P 500 rose in seven of the past eight sessions. Retailers were a notable standout after Home Depot raised its profit forecast due to improvement in the housing market and US retail sales data that was stronger than expected, [...]
Commuters are sick of fare rises: Let’s plug the democratic deficit August 14, 2012 COMMUTERS are suffering from more than just the symptoms of an Olympic hangover. Once again, the annual ritual of fare increases is upon us. Some newspaper headlines have declared increases of 11 per cent. In fact, the average increase for the so-called “regulated basket” of fares, due to come into effect in January 2013, is [...]
America’s vibrant networks leave it ideally placed to fend off rising China August 14, 2012 THE last three Olympics have seen a titanic battle between the US and China to head the medals table. If you combine the total of the last three Games, China stands just ahead, with 121 golds to the United States’s 116. But, the US topped the table in both 2004 and 2012, while China edges [...]
Whistleblowing is a career gamble even if successful August 14, 2012 IF THE reports of irregular payments by the defence contractor EADS turn out to be true, Ian Foxley’s name will soon stand alongside that of the former Olympus chief executive Michael Woodford. Whistleblowing is the name of this game, but what are the lessons for employees that want to spill the beans? The City has [...]
