Investors support Deutsche’s pay plan as succession talks begin May 27, 2010 DEUTSCHE Bank shareholders backed a new compensation model for bonus payments proposed by Germany’s flagship lender in a nonbinding vote at the company’s annual general meeting yesterday. Shareholders representing about 35 per cent of Deutsche Bank’s capital attended the meeting at Frankfurt’s fair and exhibition centre. Some 58 per cent of these approved the new [...]
CITY MOVES | WHO’S SWITCHING JOBS May 27, 2010 Hogan Lovells The law firm has made its first partner hire since the merger of Lovells and Hogan & Hartson, in the form of antitrust, competition and economic regulation specialist Suyong Kim. Kim is a partner at Wilmer Cutler Pickering Hale and Dorr. She has recently advised on the OFT’s dairy products and tobacco investigations [...]
RSM Tenon moves to main list May 27, 2010 Accountancy firm RSM Tenon yesterday made its official switch over from the Alternative Investment Market (Aim) to the official list of the LSE yesterday. Shares rose 1.2 per cent to 42.25p on the first day of trading, giving Tenon a market cap of around £133m. The company, which specialises in advising entrepreneurs, originally floated in [...]
Toyota electric deal not official May 27, 2010 Electric carmaker Tesla Motors said yesterday it has not struck a formal deal with Japanese carmaker Toyota to develop electric vehicles. The California start-up said in an amended registration statement for its initial public offering that it had “announced an intention to cooperate” with Toyota. Ex-Greek minister in probe
Ex-Greek minister in probe May 27, 2010 A former Greek minister says he was given money by the German electronics giant Siemens. The former Socialist transport minister, Tassos Mantelis, told a parliamentary committee he had accepted the equivalent of €100,000 (£116,000) in 1998. The minister said the money was a “campaign donation”. His statement comes amid an investigation into bribes paid to [...]
Carrie and the girls lose it in Arabia May 27, 2010 Film SEX AND THE CITY 2 Cert: 15 by Leo Bear SORRY ladies, you’re going to be disappointed. It’s two years on from where the first film left off and Carrie and co are older (it shows) but not wiser. Charlotte is tearing her hair out with two under-fives, Samantha is wrestling the menopause, Miranda [...]
Preview: Mirrors May 27, 2010 AH, the mirror. By far the most magnetic item in any room – at least for the ordinary ego. In celebration of that most eye-catching of items, Mayfair’s finest antiques dealer Ronald Phillips is putting on an extraordinary exhibition of rare looking glasses, some of them used by what were once the world’s most famous [...]
Canada banks profits up but still disappoint May 27, 2010 PROFITS at three big Canadian banks rose but came in short of lofty expectations yesterday as trading headwinds, the strong currency and taxes took the shine from improving loan losses. The nation’s largest bank, Royal Bank of Canada, said the stronger Canadian dollar took a big bite out of capital markets and wealth management revenues [...]
Earnings at Israel’s top banks smash market expectations May 27, 2010 NET profits at Israel’s two biggest banks, Leumi and Hapoalim, yesterday beat forecasts in the first quarter as an economic recovery boosted financing income but loan loss provisions were less than expected. Leumi’s net profit rose to 596m shekels (£107m) from 429m a year earlier. It had been forecast to earn 552m shekels. Income from [...]
Natixis says it needs no fresh capital injection May 27, 2010 FRENCH investment bank Natixis, which recently returned to profit after the financial crisis, does not need to raise capital to comply with Basel III solvency rules, its chief executive said yesterday. “Internal studies allow us to conclude that we do not need to raise capital,” Laurent Mignon told a shareholders’ meeting when asked about the [...]
