US slips in WEF’s competitiveness rankings for 2010 September 9, 2010 SWITZERLAND remains the world’s most competitive economy, while the United States has fallen from second to fourth after losing the top spot last year, according to the World Economic Forum’s (WEF’s) annual rankings. Sweden, in second spot, and Singapore in third leapfrogged the United States in the WEF’s Global Competitiveness Report 2010/2011. Last year the [...]
Lion Capital set to sell Dutch retailer Hema September 9, 2010 PRIVATE equity group Lion Capital said yesterday it had appointed Citigroup and RBS to explore selling retailer Hema, the second Dutch retailer to be placed up for sale this year. Lion Capital bought Hema, a household name in the Netherlands, for an undisclosed sum in July 2007 from Dutch retail group Maxeda, and has since [...]
ANALYST VIEWS: ARE YOU CHANGING YOUR ESTIMATES AFTER IG GROUP’S FIRST QUARTER RESULTS? September 9, 2010 JAMES HAMILTON | NUMIS SECURITIES In aggregate, the first quarter was a little better than we would have expected but at this point of the year we are not loking to change our forecasts and continue to look for 12.8 per cent revenue growth for the full year. IG is valued at 14.8 times this [...]
Accountants take up top FTSE 100 jobs September 9, 2010 ACCOUNTANTS now hold senior roles at six out of 10 FTSE 100 companies in the UK, according to new research. A survey conducted by recruiter Marks Sattin found that 40 per cent of senior figures at the UK’s largest companies have an accounting or financial background. The number has more than doubled from the 1990s [...]
Amagerbanken raises £99m to secure lifeline September 9, 2010 SMALL Danish bank Amagerbanken has raised 898m Danish crowns (£99.3m) in a fully subscribed rights issue of new shares, fulfilling a tough condition for a government lifeline. In June, Denmark told struggling Amagerbanken to raise 750m crowns by 15 September to qualify for a guarantee for a $2.3bn bond issue carried out in July. Amagerbanken [...]
ALTERNATIVE MANAGER OF THE YEAR | The Shortlist September 9, 2010 INNOVATION is at the heart of the City, and nobody demonstrates it better than the top hedge funds and private equity houses. Our varied shortlist makes clear the chutzpah and sheer-brain power needed to become a leader in this toughest of sectors. And it also makes the clear the massive rewards awaiting the brightest and [...]
Banks jump on Basel III talk as FTSE hits four-month high September 9, 2010 BRITAIN’S top share index rose sharply yesterday to post a four-month closing high, as US weekly jobless claims fell more than expected and further eased concerns of the United States falling back into recession. Economy-sensitive banks were among the top gainers, up 2.3 per cent, also aided by expectations that the new Basel III capital [...]
Wall Street buoyed by upbeat jobs data September 9, 2010 US stocks rose yesterday as stronger-than-expected jobs and trade data helped lift optimism about the economic recovery, although sentiment was fragile as investors fretted over European banks. Financials, hit hard in the August downturn, were among top gainers as new US claims for unemployment benefits fell to a two-month low, while the trade deficit narrowed [...]
Don’t fritter away your cash on gratuitous advice fees September 9, 2010 MANY a City worker spends her hours turning over millions for institutional or super-rich private clients as a matter of course. But when it comes to managing one’s personal wealth, the right strategy can seem far less clear. The perceived security of an independent financial advisor (IFA) can seem appealing, but the fees of the [...]
PERSONAL FINANCE NEWS September 9, 2010 RETIREMENT ADVICE MOST SOUGHT Almost half of all consumers seeking independent financial advice last month sought assistance with retirement planning, the professional advice website unbiased.co.uk said this week. Retirement planning has remained on an upward trend since May this year. Consumers are also increasingly looking for specialist guidance on investment and savings. Karen Barrett, chief [...]
