Cracks start to appear in the coalition over business plans September 20, 2010 THE two sides of the coalition look set to clash over a string of key business issues, according to a British Chamber of Commerce (BCC) survey of MPs. One potential battleground is the forthcoming appointment of outgoing HSBC chairman Stephen Green as full-time trade minister. Around 62 per cent of Tories are in favour of [...]
Compton role put on hold September 20, 2010 PAUL Compton, the former Toscafund hedge fund manager, is still waiting for FSA clearance before being able to take up his new role at the small companies broker WH Ireland. Compton, who worked at Merrill Lynch and Collins Stewart before joining Toscafund, has had the summer off waiting to assume his new role at WH [...]
Safran pens deal with BAE for L-1 September 20, 2010 FACE-RECOGNITION software maker L-1 Identity Solutions is being sold to Safran and BAE Systems, two top European defence firms. French group Safran confirmed a $1.09bn (£701m) cash deal to buy the US security company and its core biometric business in a move that will also see British defence company BAE Systems extend its reach in [...]
EU targets commodity speculation September 20, 2010 EUROPEAN markets supremo Michel Barnier yesterday said he was prepared to crack down on speculation in the commodities market, as he called for greater transparency in bond and derivatives trading, and dark pools. He used his speech on reform of the EU’s Markets in Financial Information Directive (MiFID) rules to announce plans to examine pre-trade [...]
CITY VIEWS: SHOULD 9,000 PUBLIC SECTOR WORKERS BE PAID MORE THAN THE PRIME MINISTER? September 20, 2010 AZHAR KHAN | NOMURA “Given the importance of our PM’s role and the decision making involved, his salary does not make economic sense to me. I think he deserves to be compensated more.” GARETH MORTIMER | ADVANTAGE PROFESSIONAL “I think it’s understandable. It seems like rather a high number. It certainly doesn’t bother me that [...]
Check the momentum behind any break out September 20, 2010 DESPITE a summer where equities drifted sideways and the recent slew of less upbeat economic data, the FTSE 100 has had a promising start to the autumn. Since the start of September it has risen around 400 points to close yesterday at 5,602.4 and some market participants are anticipating another move higher. “UK equities are [...]
TRUST GOLD MORE THAN POLITICIANS September 20, 2010 The summer is behind us. While equity trading volumes have yet to pick up, we’ve seen more activity from policymakers and central banks. Last week’s intervention by the Bank of Japan (BoJ) to halt the rise of the yen was a notable example. However, investors are likely to test the BoJ’s resolve. Germany is watching [...]
FTSE 100 gets a US boost to close at a four-month high September 20, 2010 Britain’s leading share index extended early gains to close strongly yesterday, after US market bulls helped London to its highest close since late April. The FTSE 100 closed up 94.09 points, or 1.7 per cent, at 5,602.54, more than reversing the 0.6 per cent decline in Friday’s session after risk appetite made a strong return. [...]
Wall St rises, S&P makes strong gains September 20, 2010 The S&P 500 closed at a four-month high yesterday as a long-awaited break above a technical range and a flurry of positive corporate news increased investor optimism. The break came a day before a Federal Reserve meeting in which the central bank is expected to renew a promise to keep its portfolio from shrinking but [...]
A libertarian innovator burning to see his company grow even further September 20, 2010 Fresh off the plane from Denmark, Kim Fournais talks rapidly, his passion unmistakable. He is in celebratory mood. “Saxo Bank is 18 years old today – we are old enough for a driving licence!” Evidently, to Fournais the company he helped found is still young. “I love it. I love what we’re trying to do. [...]
