THE KNIVES ARE OUT AS THE CITY VIEWS GRAND MILITARY GOLD CUP March 14, 2010 THE Capitalist travelled in style to Sandown Park racecourse for the Grand Military Gold Cup, where the City types in attendance were busy whetting their appetite for this week’s Cheltenham festivities. As the military’s most accomplished horsemen and women battled it out around the track, it was off to a private suite for guests of [...]
BILL OF THE WEEK March 14, 2010 JUST St James obviously ticked the right boxes for one of its loyal Mayfair regulars. with the introduction of a Best of British menu. On the day the 10-year-old favourite relaunched its basement bar – formerly Just Oriental – as the Club Bar, six fans celebrated with a modest array of sharing platters with everything [...]
London and NY in tie for finance hub March 11, 2010 LONDON is no longer the world’s leading financial centre, according to a highly rated survey The Global Financial Centres report yesterday slashed its rating to equal that of New York. It is the first time London has been knocked off the top spot and will come as a warning to politicians desperate to trumpet the [...]
Tories insist that City has faith in Osborne March 11, 2010 THE Tories yesterday insisted the City had faith in George Osborne, after our City A.M. reader panel said Ken Clarke would make a better chancellor. Shadow business secretary Clarke was the first choice of 36 per cent of readers on the City A.M. / PHI Panel, recruited to represent a cross-section of London’s business community. [...]
City mourns Sir Brian Pitman March 11, 2010 SIR Brian Pitman, one of the most respected bankers of his generation, has died aged 78. Pitman, who was latterly chairman of Virgin Money, led Lloyds Bank for 18 years before retiring almost a decade ago. In his time as chief executive and then chairman of Lloyds, Pitman built the bank from a £1bn business [...]
Europe is risking a trade war with US March 11, 2010 ONCE again, the European Union has got it wrong. It doesn’t have a clue about regulating hedge funds, private equity or other financial products and players. Brussels is tilting at windmills, attacking problems that don’t exist, inserting dangerous protectionist barriers into its proposed new rules and all the while ignoring the very real weaknesses and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 11, 2010 FINANCIAL TIMES PUSH FOR CLEARING HOUSES FAILS TO MOVE OIL TRADERS Big oil traders are choosing to keep more derivatives deals private, in spite of a global regulatory campaign to steer such contracts to clearing houses. Their willingness to take on risks viewed as intolerable just a year ago reflects renewed faith in the strength [...]
Tory lead cut to three points March 11, 2010 Labour crept up two points on the Conservatives, according to the YouGov daily tracker poll published today. The Tories, led by David Cameron, remain unchanged on 37 per cent, while Gordon Brown’s Labour has risen to 34 per cent. While Nick Clegg’s Liberal Democrats remain unchanged at 17 per cent.
Rival banks cited in Lehman case March 11, 2010 JP Morgan Chase and Citigroup helped cause the illiquidity that led to the collapse of Lehman Brothers by making new demands for collateral, the failed US investment bank, a court-appointed examiner said. In a 2,200-page report, which was made public yesterday, examiner Anton Valukas, chairman of law firm Jenner & Block, said Lehman used accounting gimmicks [...]
US and EU in a battle over hedge funds March 11, 2010 THE bitter war of words between the US and Europe over hedge fund regulation reached new heights yesterday. The EU reacted furiously to criticism of its plans to clamp down on hedge funds. US treasury secretary Tim Geithner had complained tough new rules passed down from Brussels could alienate US hedge funds trading in Europe. [...]
