Hoodie on show for IPO May 9, 2012 FACEBOOK’S Mark Zuckerberg has long been known for wearing the unbusinesslike hoodie. But now he’s going to the public financial markets, some observers expected him to show slightly more decorum. One such critic is Wedbush’s managing director Michael Pachter, who said what many investors might have been thinking on Bloomberg: “Mark and his signature hoodie: [...]
CITY TAKES ON THE WHARF ON 5KM RUN May 9, 2012 THERE’S long been rivalry between the City of London’s twin financial districts, the City and Canary Wharf, and in September this will be tested in a 5km running competition in Hackney’s Victoria Park. The event is all about the City taking on the Wharf to see who can get the most runners, which location will [...]
CITY MOVES WHO’S SWITCHING JOBS May 9, 2012 Assura Group The primary healthcare group has announced that Jenefer Greenwood has been appointed non-executive director with immediate effect. Greenwood is currently director of sales and lettings for Grosvenor Britain and Ireland and is also member of the board for the Crown Estate, where she chairs its remuneration committee. She will replace Claire Hollingsworth as [...]
BEST of the BROKERS May 9, 2012 FRESNILLO Citigroup has downgraded the miner to “sell” with a target price of £13.05. The broker thinks Fresnillo is trading at an unjustified “substantial premium” to its peers. While the bull market in silver could buoy the shares in the short term, Citi reckons a drop in silver below $30 an ounce could spark a [...]
Lingering euro worries weigh on Wall Street May 9, 2012 U S stocks fell for the fifth day in six yesterday as investors kept their focus on the turmoil in Europe, but news that Greece will receive its latest debt bailout payment helped cut losses late in the session. In the afternoon the Nasdaq briefly turned positive and the S&P rose to break-even after news [...]
Eurozone fears see FTSE 100 fall to fresh 2012 low May 9, 2012 UK equities slumped to their lowest level this year yesterday and faced further losses amid downbeat corporate reports and concerns about the health of the Eurozone, Britain’s biggest export market. Shares in several big companies – including oil major BP and drug maker GlaxoSmithKline – went ex-dividend, meaning investors buying them from now on will [...]
The four traits key to success in the critical world of sales May 9, 2012 PHILIP Delves Broughton’s idea is very simple. “Selling is not a sideshow, a pesky obligation apart from the real business of finance, law, or accounting. It is business in gorgeous Technicolour.” Sales is a “human practice.” To be a success in sales requires skills and traits that aren’t solely useful in that particular job, but [...]
JOBS of the WEEK May 9, 2012 FIXED INCOME SALES CENTRAL LONDON £50K-£100K pa, plus commission A leading investment firm is looking to hire a number of fixed income sales professionals to join the growing division. Previous experience and an identifiable client base is essential. http://www.cityamcareers.com/job/10068 FINANCE DIRECTOR SINGAPORE £101K-£141K pa, plus excellent benefits The investment banking arm of a leading global [...]
Shareholder activism proves that regulating pay would be senseless May 9, 2012 ANDREW Moss, who had been in charge of Aviva since 2007, became the third chief executive to quit amid increasing shareholder discontent in recent weeks, following David Brennan at AstraZeneca and Trinity Mirror’s Sly Bailey. Just what is going on with the public limited company, one of the great inventions of capitalism? It has provided [...]
The US public is increasingly looking at leaderless Europe with trepidation May 9, 2012 PRESIDENT Barack Obama’s official re-election launch on Saturday fell largely flat. Despite all the campaign’s attempts to generate as much hype as possible, the main electoral events captivating American politicos were taking place in France and Greece with the presidential and parliamentary elections respectively. As Americans prepared to bid adieu to Sarkozy l’Américain and witness [...]
