City Moves for 6 February 2013 | Who’s switching jobs February 5, 2013 Akin Gump The law firm has appointed Jon Hanifan to lead its European hedge fund tax advisory team. He joins from Ernst & Young, where he was a director in its hedge fund tax practice. F&C Asset Management The investment management firm has appointed Ben Fox as director in its multi-alternative business. He was previously [...]
Best of the Brokers February 5, 2013 SMITH & NEPHEW Panmure Gordon has downgraded the medical technology firm from “buy” to “hold” rating reflecting a recent rise in the share price, and raises its target to 720p. “We cannot imagine the outlook statement as strong as consensus implies,” the broker says ahead of the firm’s annual results on Thursday. However, Panmure maintains [...]
FTSE flips back to rally mode after fresh data February 5, 2013 THE FTSE rebounded yesterday from a steep fall in the previous session, with investors encouraged by forecast-beating earnings and improving economic data from the Eurozone. The index closed 0.6 per cent, or 35.92 points, higher at 6,282.76, after suffering its biggest one-day in three months on Monday as political uncertainties in Spain and Italy and [...]
Recovery for US stocks on strong profits February 5, 2013 US stocks climbed yesterday, recovering a day after the market’s biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture. Dell’s stock rose after the world’s No3 computer maker agreed to be taken private in a $24.4bn deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.1 per cent to [...]
Why Labour is the natural party of small business and entrepreneurs February 5, 2013 “You’re all the same” is the complaint often levelled at politicians. But this cannot be said of small businesses, even if the increasing use of “SME” as a shorthand for small and medium-sized enterprises can give the opposite impression. One of my resolutions for 2013 is to stop using the term. It doesn’t do justice [...]
We don’t need to fear a Chinese slowdown – it’s real capitalism in action February 5, 2013 IT HAS suddenly become fashionable to be concerned about a slowdown in China’s growth rate. It’s not a matter of a short-run cyclical downturn, with normal service resumed shortly. It is a worry that there will be a permanent slowdown by the end of this decade. Instead of annual growth rates around 10 per cent [...]
Give London back its stamp duty to reinvest in growth February 5, 2013 FIFTY years ago the average London house cost roughly the same as a month’s rent in some parts of North London today. Notwithstanding the effect of inflation, that cannot be sustainable, socially or economically. Among the range of housing challenges we face, the greatest by far is simply to build more homes. That’s why Boris [...]
The Debate: Will Tory divisions over same-sex marriage damage the party’s re-election prospects? February 5, 2013 YES Paul Goodman The same-sex marriage bill was not in the Conservative manifesto, the coalition agreement, or the last Queen’s speech. No green or white discussion paper has preceded it. But it was “whacked” through the Commons – to borrow the ugly but efficient word deployed by Boris Johnson – on a whipped timetable. It [...]
Letters to the editor February 5, 2013 Bank ringfencing [Re: Ringfencing is the wrong solution to the wrong problem, yesterday] It’s right to point out that Northern Rock, HBOS, and Bradford and Bingley were largely retail banks. But that doesn’t mean there isn’t a problem to solve. Retail banks have been relying on a flood of cheap money from the Bank of [...]
Investing is a lot easier with the right platform February 5, 2013 IT IS important for investors to pick solid investments that perform well over time. Equally important, however, is how you choose to buy, manage and monitor them. Many online platforms have sprung up that can help you with the process. They allow you to buy and hold different assets – like shares, bonds and funds [...]
