Apple hands out millions to key executives November 6, 2011 APPLE has dished out hundreds of millions to its senior executives in a bid to keep hold of its top staff in the wake of Steve Jobs’ death. Key men including marketing boss Phil Schiller, chief financial officer Peter Oppenheimer and operations director Jeff Williams will each receive packages worth $60m (£37.4m). The packages are [...]
LLOYD BLANKFEIN GETS HIS JUST DESSERTS FROM BUSINESS ELITE November 6, 2011 THERE WAS only one sour note at the Goldman Sachs and Financial Times Business Book of the Year awards – the Roquefort-flavoured ice-cream, which went down about as well as sovereign debt exposure at MF Global. “I’m not sure about this,” said Jonathan Taylor from HM Treasury as he laid down his spoon with a [...]
BILL OF THE WEEK November 6, 2011 AS THE nights draw in, four private investors were drawn to Boisdale of Belgravia for what the Scottish institution does best: some reassuringly autumnal haggis, grouse, Scotch rarebit, wild salmon and, of course, whisky. Make that three measures of Royal Salute and one of Glenlivet, thought the financiers as they digested their long Hibernian lunch [...]
Reform urged to avoid new UK recession November 6, 2011 THE UK could already be suffering from the start of a double dip recession, according to new data from accountancy group BDO. Revealing the latest bearish news from its business trends report, BDO partner Peter Hemington has called on the government to confront the downturn with radical reforms to taxation and infrastructure. “We urge chancellor [...]
Greek affairs so labyrinthine even Theseus would struggle November 6, 2011 INVESTORS and traders alike spent most of last week dazed and confused. Equity, bond, commodity and FX markets swung around wildly as they responded to headline news out of Greece and G20. There was no time available for detailed analysis, and even Theseus would have struggled to navigate the labyrinth that is Greek politics. While [...]
Deteriorating outlook for SME factories November 6, 2011 THE OUTLOOK for small and medium sized manufacturers is increasingly bleak, according to figures released today by employers’ organisation the CBI. Factories expect no growth in orders and for stocks to whittle down in the coming three months, with output set to fall. “Small and medium-sized manufacturers have seen domestic demand flat-lining in the past [...]
More inflationary pressures could be looming on horizon, economists warn November 6, 2011 INFLATION is likely to dip next year but only temporarily, with further price hikes set to pile more misery on savers and shoppers, a prominent group of economists will warn today. Strong price pressures will bite again once the recovery finally gears up, the Ernst & Young Item Club says. Impending domestically-generated inflation renders the [...]
BANK OF ENGLAND SET TO STICK WITH LOW RATES November 6, 2011 THE BANK of England is expected to hold interest rates at the historic low of 0.5 per cent for the 33rd straight month this Thursday. Mervyn King’s committee voted last month to boost the Bank’s quantitative easing programme by a further £75bn.
CITY MOVES | WHO’S SWITCHING JOBS November 6, 2011 Segro The European real estate investment trust has promoted Andy Gulliford (pictured) and Phil Redding to the new roles of chief operating officer and chief investment officer respectively, reporting to chief executive David Sleath. Gulliford, who will oversee the group’s operational property teams in the UK and continental Europe, was formerly managing director of Segro’s [...]
BEST OF THE BROKERS November 6, 2011 BMW After BMW beat quarterly profit forecasts on Friday, Goldman Sachs rates the carmaker as a “buy” with a target price of €109 (£93.78). The broker says the results, including a significantly better-than-expected net price evolution, should reassure investors of the company’s ability to perform for the rest of 2011 and into next year. BMW [...]
