CITY MOVES | WHO’S SWITCHING JOBS July 5, 2012 Ogier Julie Melia has joined the legal and fiduciary services firm as a partner and co-head of its property law group. She joins from Walkers, where she was a partner and head of the Jersey property team. Melia has over 20 years’ experience as a senior advocate and specialises in all aspects of Jersey property. [...]
BEST of the BROKERS July 5, 2012 CENTRICA Goldman Sachs has bumped the utilities giant off its “conviction buy” list and downgraded the stock to neutral, citing a weaker near-term earnings per share outlook due to lower commodity prices and greater share price upside elsewhere in our coverage. Goldman has had Centrica on its buy list since 7 January 2010, in which time [...]
FTSE ends higher but Europe closes lower as two-month high fades July 5, 2012 BRITAIN’S top share index closed up but off session highs yesterday as markets fretted over global growth prospects, despite moves by central banks to boost flagging economies. Miners closed slightly higher after China surprised the market by cutting interest rates for the second time in two months. But in a sign of investor caution after [...]
Wall St edges lower ahead of non-farm data July 5, 2012 US stocks edged lower yesterday as economic stimulus measures by major central banks failed to excite investors before a US jobs report expected to show tepid growth. After the S&P 500 index’s strongest three-day run this year, investors stepped back, leaving the broad index and the Dow modestly lower and the Nasdaq essentially flat. Trading [...]
Questions the Treasury Committee should ask Paul Tucker on Monday July 5, 2012 IT WILL be on strictly surname-terms that Paul Tucker, deputy governor of the Bank of England, faces his interrogators on the Treasury Committee on Monday. Tucker, unlike Bob Diamond, has plenty of experience of dealing with the Committee’s MPs and knows when to defer to them. But he cannot expect an easy ride – there [...]
The fall of Bob Diamond: How tragedy can stalk even the most powerful July 5, 2012 FOR God’s sake, let us sit upon the ground, and tell sad stories of the death of kings.” Anyone who caught the BBC’s dramatisation of William Shakespeare’s Richard II at the weekend will have seen not only one of the City’s historic buildings featuring prominently – St Bartholomew the Great in Smithfield – but also [...]
The Wolfson Prize winner sets out a plan for euro exit July 5, 2012 THE simple fact is that Eurozone policymakers are still not doing enough to deal with the root causes of the crisis. Peripheral economies are fundamentally uncompetitive inside the currency union and will be unable to return to solid economic growth and fiscal health without exiting. Some form of Eurozone break-up remains likely. As we, at [...]
Is the Bank of England right to increase quantitative easing by a further £50bn? July 5, 2012 YES George Buckley The UK’s recovery continues to disappoint. So much so that we are back in recession, with output having contracted since last autumn. Among the G7, only Italy has seen a weaker recovery. With that in mind, the Bank of England needed to act this month, and act it did – its £50bn [...]
RAPID RESPONSES July 5, 2012 Political animals [Re: Pity Osborne isn’t this passionate when talking about growth, yesterday] George Osborne is treating this scandal as a political game, and most of the coalition is following him. There may be evidence of over-close contact between politicians and bankers, but that contact crosses the spectrum – it is, in fact, structural. Jamie [...]
Get out and enjoy the summer July 5, 2012 ELIZABETH STREB DANCERS Various locations, until 9 September Dancers trained under the famous Elizabeth Streb will perform in front of Tower Bridge. They will perform a series of daredevil routines as part of the Mayor of London Presents and London 2012 Festival. Revellers will be amazed by the impossible twists and contortions of the world [...]
