Bleak picture in UK markets as shares tumble on Eurozone and Korea fears May 25, 2010 BRITAIN’S leading shares tumbled yesterday, laid low by big falls from banks and commodity issues as ongoing euro zone debt contagion fears and rising tensions in Korea kept investors wary. By the close, the FTSE 100 index was down 128.93 points, or 2.5 per cent, at 4,940.68, having touched an eight-and-a-half month low of 4,898.49 [...]
US stocks stage late rally to counteract euro fears May 25, 2010 US stocks staged a furious late-day rally yesterday to push the S&P 500 into positive territory as the focus shifted from European debt woes to buying after shares hit six-month lows. Major US indexes had fallen more than three per cent early in the session. The morning’s action reflected the market’s nervousness as the S&P [...]
New FSA vetting regime changing life in the City May 25, 2010 LAST week, the FSA secured an undertaking from former senior RBS executive Johnny Cameron that he would not work full-time in the financial services industry again. This weekend it emerged that ex-Morgan Stanley executive John Hyman would not be going through with his planned move to Nomura because the regulator had asked that his FSA [...]
EU’s regulation land-grab harms funds sector May 25, 2010 THE Alternative Investment Fund Managers Directive took a significant step towards becoming law last week after being approved by the European Council. While a lot of commentary has focused on the high profile hedge fund sector, the directive will regulate all European managers of private funds irrespective of the underlying asset class. In addition to [...]
It’s party time May 25, 2010 SOUNDWAVE When: 23 to 25 July Where: Petrcane, Croatia What: Soundwave is an idyllic holiday and festival in one. Set in a small fishing village on a Croatian peninsular where the Dalmation Coast meets the Adriatic Sea, the event offers an inland amphitheatre for bands, a beachside terrace that transforms into a nightclub after the [...]
OUT OF OFFICE May 25, 2010 RIEDEL WINE TASTING Don’t miss Riedel’s legendary wine and glass comparative tasting on 11 June, conducted by Georg Riedel, 10th generation master glassmaker and head of the wine glass company. In a unique wine and glass tasting, Riedel will demonstrate the relationship between the shape of a glass and our perception and enjoyment of wines. [...]
Sport & spark May 25, 2010 THE EX37 is perplexing. Most cars are remarkably easy to understand. With one look at the exterior and a sit inside and you can pretty much get a grip on what kind of car you’re in and have some idea of the kind of person it has been designed for. But not this one. It’s [...]
City: cuts are a good first step May 24, 2010 BUSINESSES applauded George Osborne’s decision to wield the axe on Whitehall spending yesterday, but warned the £6.2bn of savings were a drop in the ocean compared to deeper cuts on the horizon. The chancellor won praise for his decision to begin belt-tightening early, as he announced he was scrapping the Child Trust Fund, pulling the [...]
MPC man: UK may be new Japan May 24, 2010 BRITAIN is at risk of suffering a prolonged Japanese-style recession that may be “scarier than the original,” a member of the Bank of England’s monetary policy committee warned last night. Adam Posen, who is an expert on Japan, added that he couldn’t rule out the possibility of deflation engulfing the UK?economy, as it infamously did [...]
Banks call for living will plan May 24, 2010 LEADING G20 countries should set up a task force to oversee the creation of cross-border bank “living wills” and make bondholders aware they could take more pain if a lender hits trouble, top bankers said yesterday. The Institute of International Finance (IIF), a bank lobby group, said “resolution regimes” laid out for banks should make [...]
