Cazenove executive quits April 11, 2010 JPMorgan Cazenove has been rocked by the shock departure of its head of UK equity research. David Knox had been with the bank for more than 15 years and served on the executive board. He also served as deputy head of European equity research. Sources close to the matter say the departure was amicable. There [...]
Obama fears al Qaeda arsenal April 11, 2010 President Barack Obama said yesterday that efforts by groups like al Qaeda to acquire nuclear weapons represented the biggest security threat, and he hailed a sense of urgency among leaders taking part in this week’s nuclear security summit. Obama, speaking before the start of the two-day conference today that will bring together nearly 50 countries, [...]
Hedge funds pile into financials April 11, 2010 Hedge funds are on the verge of becoming net buyers of financial shares for the first time in several years, according to research from Swiss bank UBS. Market strategist Karen Olney said long/short funds were buying into global equities at their fastest pace since 2007, particularly banking shares where they believed fears over tighter regulation [...]
BA execs to stand trial on cartel charge April 11, 2010 THREE former executives and one current executive at British Airways (BA) are to face criminal court proceedings today after cartel charges were handed to them over fuel price fixing. Former executives Alan Burnett, Iain Burns and Martin George will stand trial, alongside current BA executive Andrew Crawley, at Southwark Crown Court, where they are expected [...]
Politics should be a marathon, not a sprint April 11, 2010 NOW that Gordon Brown has fired the starting gun on what is likely to be one of the most keenly contested general elections in recent memory, politicians across the country are gearing up for a marathon campaign. As I train for my 16th London Marathon later this month, I am well aware of how difficult [...]
CITY MOVES | WHO’S SWITCHING JOBS April 11, 2010 BoA Merrill Lynch The bank has rehired Anthony Bor to its global research team as head of South Africa Equity Research. Bor previously spent 12 years as an analyst at Merrill Lynch and consistently ranked in the top three in Institutional Investor and Extel surveys in a variety of different sectors. He then left the [...]
Travelodge boosts its sales April 11, 2010 Budget hotel chain Travelodge is this week set to report a three per cent sales growth for last year, up to £297m. The chain’s pre-tax losses are likely to reach £80m due to interest payments on loans and other accounting charges.
Grosvenor House hotel bids due April 11, 2010 The Grosvenor House hotel could change hands in the next few months, with an estimated sale figure of £500m to £550m. Bids for the five-star hotel, which is owned by Royal Bank of Scotland, are due before the end of the month. CB Richard Ellis has been appointed to handle the sale. The Livingstone brothers, [...]
Sale date for Kroll is close April 11, 2010 The world’s biggest corporate investigation firm, Kroll, is likely to be sold to private equity bidders within the next few weeks. BC Partners, Apax and Carlyle are through to the second round of a £846m sale process, with final bids due by the end of the month. Kroll, which helped uncover Saddam Hussein’s assets, was [...]
New British Airways fund chief April 11, 2010 British Airways has named Paul Spencer as the chairman of its pension trustees. Spencer, the former head of National Savings & Investments, is also a trustee of the Rolls-Royce, BT and BAT pension schemes. He is set to play a crucial role in BA’s planned merger with Spanish airline Iberia. Iberia has said it would [...]
