WHAT THE OTHER PAPERS SAY THIS MORNING November 15, 2011 FINANCIAL TIMES HGCAPITAL IN TALKS TO BUY BACK IAS HgCapital, the mid-market private equity group, is in talks to buy back the main part of Iris Software Group four years after it sold the UK’s largest private business software maker to Hellman & Friedman. The buy-out house has approached its larger US rival with a [...]
Paulson sells third of his bullion November 15, 2011 Hedge fund manager and long-time gold bull John Paulson slashed his bullion holdings by a third in the third quarter, data showed, dampening sentiment in the gold market yesterday. Paulson & Co cut its holding in the SPDR Gold Trust to 20.3m shares from 31.5m at the end of the second quarter, US regulatory filings [...]
BlackBerry passes 8m UK users November 15, 2011 RIM, the maker of Blackberry smartphones, said its subscriber base in the UK had passed the 8m milestone as it unveiled a new cloud-based music service. Blackberry, once an dispensable executive accessory, has been winning younger subscribers attracted by its BBM messenger service. However its share of the global market has dwindled in the face [...]
Chancellor says EU could block Vickers November 15, 2011 THE UK is embroiled in a “vociferous” dispute with Brussels over regulations that would prevent the government from implementing its flagship banking and regulatory policies. At a committee of MPs and lords, chancellor George Osborne (pictured) admitted that he is concerned about current EU proposals on capital rules, which would make it impossible for the [...]
Germany brands UK self-centred over its dealings with Eurozone November 15, 2011 A senior member of German Chancellor Angela Merkel’s conservative bloc has called on the UK to be less self-centred in its relationship with Europe. Volker Kauder, conservative leader in parliament, said: “The British are not members of the currency union but they are members of Europe and they also have a responsibility for the success [...]
Osborne under pressure due to the price of fuel November 15, 2011 GEORGE Osborne came under pressure yesterday to do more to help motorists struggling with the price of fuel. MPs unanimously approved a motion – without the need for a vote – calling for action on sky-high petrol prices after Cameron effectively gave his party freedom to break from the official line. The Tory-led motion was [...]
New UBS boss Ermotti set to cut more jobs November 15, 2011 SERGIO Ermotti is expected to swing the axe at UBS’s investment bank after being named chief executive of the group. Analysts said the appointment of Ermotti, and the decision to replace chairman Kaspar Villiger with former Bundesbank president Axel Weber in May, a year earlier than expected, would reassure investors in the aftermath of the [...]
Bank’s fate rests on stylish Swiss Sergio November 15, 2011 SUAVE, smooth and Swiss, Sergio Ermotti was seen by many – but not all – as the man to restore the fortunes of UBS. The former deputy head of UniCredit spent most of his early career at Merrill Lynch, where he rose to become co-head of global equity markets. The well-dressed executive is seen as [...]
Credit Suisse to integrate Leu November 15, 2011 Credit Suisse Group AG will fully integrate private bank Clariden Leu into its organisation, ending the 250 year-old Leu brand and cutting jobs to achieve SwF200m (£138m) in annual cost savings. Credit Suisse said the step was part of plans announced earlier this month to increase the contribution of its private bank to group pretax [...]
Altium closes securities arm November 15, 2011 CITY investment bank Altium is to close its securities division with the loss of 30 jobs, it said yesterday. Altium has started a 90-day consultation but said the freeze in capital markets left it unable to operate. The closure will leave highly regarded staff such as head of research Greg Feehely facing an uncertain future. [...]
