Hedgie Degorce calls up old friends to set up a fund at Lansdowne’s offices July 12, 2009 PATRICK Degorce, a former fund manager at US banking giant Merrill Lynch, is launching a new fund based in the Mayfair offices of hedge fund powerhouse Lansdowne Partners. Degorce, 40, is being allowed to set up shop with a small team at the firm after contacting Stuart Roden and Peter Davies, former colleagues of his [...]
Stuttering sales growth signals corporate woes July 12, 2009 IT SHOULD come as no surprise that stocks have sold off into the second quarter reporting season. After all, when it comes to markets it’s often better to travel than arrive. While markets were rallying from March lows, many analysts were lowering expectations for corporate profitability. The sad truth was though, at that stage, most [...]
Inflation set to continue coming down July 12, 2009 THIS week’s inflation figures – out tomorrow morning – are widely expected to show a continuation of the recent downward trend with a consensus forecast of a 1.8 per cent rise in prices year-on-year. Inflation – as measured by the consumer prices index (CPI) – is expected by both analysts and the Bank of England [...]
CITY VIEWS: DO YOU PREFER WORKING IN CANARY WHARF TO THE CITY ITSELF? July 12, 2009 SUNETH SILVA MORGAN STANLEY“I used to work in the City, and I like both. The City is popular for its culture, history and convenience, while others prefer Canary Wharf for its smart new buildings and facilities. As far as business contacts go, it can be inconvenient to go back to the City for meetings, but [...]
Canary Wharf versus the City row is reignited July 12, 2009 THE departure of Japanese bank Nomura from Canary Wharf to the City has reignited the row between the two hubs over where the true heart of the financial sector lies. Nomura is quitting the Isle of Dogs for the new new 525,000 sq ft riverside City complex Watermark Place. But Canary Wharf achieved a coup [...]
Virgin Media launches new HD channels July 12, 2009 Virgin Media will today announce the launch of four new high definition (HD) channels which will soon be available on its TV platform, including the HD debut of Living. The broadband and digital TV provider also named FX, MTV Networks International and National Geographic as the channels its 3.6m customers will be able to receive [...]
Calls for Lloyd’s of London to widen brokers’ access July 12, 2009 STUART Reid, boss of insurance broking giant Bluefin, has urged Lloyd’s of London to widen access for brokers to its insurance marketplace as part of its strategic review. Reid has said enabling all brokerages to do business with Lloyd’s syndicates, rather than a select group, would allow consumers and businesses around the world to get [...]
Financial services in recruiting drive July 12, 2009 RECRUITMENT in the financial services is showing signs of recovery after a long slump, with stockbrokers leading the way, according to a report by candidate screening company Powerchex. Stockbrokerages increased recruitment by 77 per cent between the first and second quarters of this year, and by a massive 317 per cent between the months of [...]
Sainsbury’s in the spotlight July 12, 2009 J SAINSBURY is hoping, according to insiders, for a “plain old AGM” this Wednesday as shareholders gather around chief executive Justin King for the yearly meet. Sainsbury will be hoping the meeting will largely be an opportunity for investors to laud its current trading efforts, which has seen it outperforming rivals. But shareholders may want [...]
Citigroup to put Grundhofer in charge of US banking operations July 12, 2009 CITIGROUP is set to hand a key role to highly-respected banker Jerry Grundhofer as it presses on with a boardroom shake-up designed to appease government and regulators. Grundhofer, a former head of US Bancorp, is tipped to be made chair of Citi’s audit and risk committee as well as its core US banking operation, Citibank, [...]
