Oriel appoints Knox as chief executive as Bragg steps aside September 6, 2012 INDEPENDENT broker Oriel Securities yesterday appointed former JP Morgan Cazenove banker David Knox as its permanent chief executive. The firm’s co-founder Simon Bragg, who has been on a three month sabbatical, takes up a new role as chairman of corporate finance. The move comes at the end of a week which also saw one of Oriel’s [...]
Post-merger team unveiled at Investec September 6, 2012 INVESTEC Wealth & Investment (IW&I) yesterday unveiled a raft of fresh senior appointments as it completed the transfer of client accounts from Williams de Broë – the firm that it acquired in October last year. The Williams de Broë brand has now been officially dropped, with the two separate businesses now fully integrated. The group [...]
RBS cuts precious metal trading arm and commodities research September 6, 2012 ROYAL Bank of Scotland plans to close down its precious metals trading operation, an industry source said, and the bank confirmed it was halting commodities research due to an internal review. “We are conducting a review of our client offering with respect to commodities research, and as a result we will not be producing anything [...]
MPs warn consumers could be hurt by tough rules on advisers September 6, 2012 NEW REGULATIONS designed to help consumers access financial advice could actually be harmful as they are being rushed through too quickly, an influential committee of MPs warns today. The retail distribution review rules stop advisers taking commission and instead force them to charge separately for their advice. The Financial Services Authority is also pushing for [...]
Dyson boss on hunt for UK engineers September 6, 2012 DYSON’S new chief executive Max Conze yesterday urged the government to do more to invest in young UK engineers and strengthen patent laws to help propel a new generation of risk taking entrepreneurs to success. Announcing record breaking profits for the firm and ambitious plans to push into China, Conze said UK engineers needed to [...]
Whitbread sees bumper sales as Costa thrives September 6, 2012 WHITBREAD, the owner of the Costa Coffee chain and Premier Inn hotels, boasted thriving sales in the second quarter of the year after winning over customers during the Olympics with competitive room rates and cups of coffee. Shares in the FTSE 100 firm rose more than five per cent yesterday after it posted like-for-like sales [...]
Kobo battles for market share with tablet and e-reader launch September 6, 2012 KOBO is launching a new tablet device and a more compact e-reader as it seeks to expand its market share and battle with Apple and Amazon.com in the ultra-competitive mobile device marketplace. Toronto-based Kobo, owned by Rakuten, Japan’s top e-commerce operator, will launch the new devices in the next two months, as Amazon – the [...]
CapCo poised to win Earls Court approval September 6, 2012 CAPITAL & Counties (Capco) is poised to be given the go-ahead for its regeneration of Earls Court after Fulham and Hammersmith council officers recommended the £8bn scheme ahead of a planning meeting next week. Capco’s 77-acre masterplan designed by architect Sir Terry Farrell proposes to demolish the West Kensington site – which includes the Earls [...]
Data shows MPs cost £89m in expenses September 6, 2012 MEMBERS of parliament cost the country £89m for the 2011/12 financial year, according to figures released yesterday by the Independent Parliamentary Standards Authority (IPSA), the body set up to monitor MPs’ costs in the wake of the expenses scandal. This is equivalent to around £136,000 for each of the country’s 650 constituencies and includes all wages, staff [...]
Hollande’s tax plan in doubt September 6, 2012 FRENCH President Hollande was last night reported to be considering retreating from his controversial 75 per cent marginal tax rate for those with incomes over €1m a year. The tax, which is due to be introduced at the start of next year, was one of Hollande’s key election pledges. A decision on how it will [...]
