What the other papers say this morning January 6, 2011 FINANCIAL TIMES GOLDMAN TEES UP SALE OF JAPAN GOLF COURSE Goldman Sachs is ending its long love affair with golf in Japan. The US investment bank is seeking buyers for its remaining stake in Accordia Golf, the country’s largest golf course operator. The proposed sale comes as Japan’s enthusiasm for golf is also cooling – [...]
Carlo: Angry Blues will put things right January 6, 2011 CHELSEA manager Carlo Ancelotti claims his players have been left furious by a run of form which has seen them drop out of the title race. The Italian is understood to be safe from the ignominy of being sacked eight months on from leading the club to a historic double, despite presiding over a run [...]
Morgan Stanley shifts execs January 6, 2011 Investment bank Morgan Stanley has moved Colm Kelleher, co-president of institutional securities, to London in a promotion giving him responsibility for Europe, the Middle East and Asia excluding Japan. He joins Walid Chammah, now chairman of Morgan Stanley International. The move supports the bank’s international growth push and strengthens its emerging markets presence.
Brazil moves to curb the real January 6, 2011 Brazil took another bold move yesterday to curb its hard-charging currency by making it more costly for banks to bet the real will keep strengthening. The central bank introduced a reserve requirement on banks’ short positions in US dollars – a bet the real will strengthen versus the greenback – in hopes of reducing speculative [...]
EU proposes overhaul to stop bailouts January 6, 2011 THE EU released a set of proposals yesterday that would give regulators the power to take over failing banks and impose haircuts on senior bondholders. The European Commission, headed by Michel Barnier, published the 100-page document, which is to form the basis for consultation submissions until 3 March. The document outlines plans to create a [...]
Andrew axed as RFU opens door to Woodward January 6, 2011 ENGLISH chiefs have begun the search for a performance director in a move that opens the door for the possible return of World Cup-winning coach Sir Clive Woodward. Former South Africa boss Jake White and Australian Eddie Jones are also leading contenders for the new role, while elite director Rob Andrew has seen his role [...]
S&P toughens rating rules January 6, 2011 HALF the world’s biggest banks could face a credit rating downgrade from Standard & Poor’s, the US ratings agency said yesterday as it announced proposals to review the way it rates the industry. In a sign of the pressure on agencies to respond to criticism that they failed to flag up weaknesses in bank balance [...]
United ready to pile on the misery for Liverpool January 6, 2011 MANCHESTER UNITED vs LIVERPOOL Sunday – 1.30pm ITV 1 THE FA CUP is never a priority for Sir Alex Ferguson, but when Manchester United get drawn against Liverpool in the third round you can be certain he will be taking it seriously. United have been practically untouchable at Old Trafford this season, winning 10 of [...]
Wheatley leads shortlist for consumer watchdog January 6, 2011 MARTIN Wheatley is considered frontrunner in the list of candidates to lead the new UK consumer protection agency to be established next year. Wheatley, the current head of Hong Kong’s financial regulator, is considered a leading candidate to head the new Consumer Protection and Markets Authority, which will be spun out from the Financial Services [...]
Tchenguiz trust to cede Peverel stake January 6, 2011 THE Tchenguiz family trust is finalising a debt-for-equity swap with Bank of America Merrill Lynch that will see the bank take a major stake in UK property management firm Peverel. The US lender, which owns an estimated £100m of Peverel debt, may acquire a controlling stake. The stake size and deal structure have been under [...]
