WHAT THE OTHER PAPERS SAY THIS MORNING June 8, 2010 FINANCIAL TIMES GREECE SEEKS INVESTMENTS FROM LIBYA George Papandreou will travel to Libya today for talks with?Muammer Gaddafi on possible investments in Greece as Athens struggles with its debt crisis. The Greek prime minister will discuss potential investments by Libya’s sovereign wealth fund and its state-owned energy groups with the country’s leader, officials said. EMERGING [...]
Volcker: Split up all banks June 8, 2010 AS US lawmakers hammered out a final financial regulation bill, controversy emerged last night over the proposed “Volcker rule” that would bar banks from the risky private equity and hedge fund businesses. White House economic adviser Paul Volcker, in a letter, said he firmly opposed giving banks that make only small investments in hedge funds [...]
RBS whittles down shortlists June 8, 2010 Royal Bank of Scotland is closing in on the sale of £4bn of assets. Morgan Stanley and Jeffries are understood to be among the final bidders for RBS Sempra Commodities’ North American unit, while two consortia led by Advent International and TPG are in the last round for RBS’ card processing operation, Global Merchant Services.
Hedge funds suffer tough May June 8, 2010 May was the worst month for hedge funds since October 2008, when Lehman Brothers collapsed. The average vehicle lost 2.26 per cent, according to data from Hedge Fund Research Information, with no strategy ending the month in positive territory.
Hambro to list iron ore division June 8, 2010 Petropavlovsk, the company formerly known as Peter Hambro Mining, is believed to be planning a $1bn (£691m) flotation of its iron ore operation on the Hong Kong stock exchange. The group, which has its main listing in London, is understood to have chosen the Far Eastern bourse because its ore mines are located close to [...]
Stockbroking chiefs back CGT campaign June 8, 2010 THE CHIEFTAINS of some of the City’s most successful independent stockbrokers have thrown their support behind City A.M.’s campaign against the coalition government’s proposed hikes to capital gains tax (CGT). Yesterday, Charles Stanley chairman and ex-Lord Mayor of London Sir David Howard said he applauded the campaign, claiming that it would be an “astonishing” move [...]
Ex-City minister launches savage attack on Labour June 8, 2010 LORD MYNERS, the recently departed City minister, launched an astonishing attack on his former Labour colleagues’ economic record yesterday. Backing the coalition government’s call for dramatic public spending cuts, the peer said: “There is nothing progressive about a government that consistently spends more than it can raise in taxation and certainly nothing progressive that endows [...]
Labour MPs back Fallon to grill Treasury June 8, 2010 MICHAEL Fallon is set to win the chairmanship of the influential Treasury select committee (TSC) today, after attracting significant support from Labour MPs. The MP for Sevenoaks has been the deputy chair of the committee for the last eight years, where he gained a reputation for grilling ministers and other witnesses with tough, insightful questions. [...]
Leahy checks out of the top job at Tesco June 8, 2010 TESCO shocked the City yesterday by announcing that boss Sir Terry Leahy would retire in March. Sir Terry has led the chain for 14 years, overseeing its rise to become the UK’s leading supermarket group and will be replaced by international and IT director Philip Clarke. The chief executive, who will be 55 when he [...]
Tesco chief’s exit is a blow but shares still good buy June 8, 2010 AND so the curtain falls on Terry Leahy’s remarkable reign at Tesco. Most investors will be shocked by his departure; the received wisdom was that Leahy would stick around until 2014, when its troubled Fresh & Easy US venture started to come good. His exit is a major loss for the grocer, there is no [...]
