UBS names wealth man as operating boss January 22, 2013 UBS has named private banker Andre Cronje as the chief operating officer of its investment bank. “Andre’s experience from investment banking, wealth management and corporate centre, as well as his international perspective, is a major asset as we seek to reposition ourselves,” UBS said in a memo. Cronje replaces Sam Molinaro, an ex-Bear Stearns financial [...]
Government hires banker for Royal Mail January 22, 2013 THE GOVERNMENT has hired an investment banker, formerly of Deutsche Bank, to work on the affairs of Royal Mail, which is being primed for privatisation. Jonathan Berger is said to have joined the Shareholder Executive, part of the Department for Business, Innovation and Skills. His appointment will increase speculation that a listing of Royal Mail [...]
Global jobs market struggling to recover January 22, 2013 THE JOBS market in wealthier countries is struggling to grow after the financial crisis, figures from the Organisation for Economic Co-operation and Development (OECD) think tank showed yesterday. The share of working age people in jobs in the world’s wealthier nations was 1.5 percentage points below the 2008 watermark in the third quarter of 2012, [...]
New London head at Baker & McKenzie January 22, 2013 PARTNERS at City law firm Baker & McKenzie have chosen intellectual property partner Paul Rawlinson as the next head of the London office, replacing Gary Senior who will step down this summer after 10 years in the role. Rawlinson, a Bakers lifer who joined the firm as a trainee in 1986, is serving his second [...]
Citi’s European rainmaker to lead Takeover Panel January 22, 2013 SENIOR Citigroup banker Philip Robert-Tissot was yesterday named as the incoming head of the UK’s Takeover Panel, putting him in a key position to decide the outcome of acquisitions and influence policy in the area. Robert-Tissot, who made no public comment on his appointment which takes effect on 1 April, succeeds Robert Gillespie, a senior [...]
Japan raises inflation goal January 22, 2013 THE BANK of Japan yesterday unveiled its most determined effort yet to end years of economic stagnation in the country, saying it would switch to an open-ended commitment to buying assets next year and double its inflation target to two per cent. It issued a joint statement with the new government promising to reach the [...]
EU confidence on the increase January 22, 2013 INVESTORS in Europe are becoming more confident about spending their cash piles, according to data out yesterday. German analyst and investor morale hit its highest level in more than two and a half years in January, think tank Zew said. The monthly poll of economic sentiment climbed for a second month to reach its highest [...]
Chinese freeze waters down SABMiller sales January 22, 2013 AN exceptionally cold Chinese winter drove down beer sales in the country and hit growth at SABMiller. The FTSE 100 brewing giant, which makes Peroni, Grolsch and Pilsner Urquell, said it had sold three per cent less beer in China in the final quarter of 2012 than in the same period last year, when acquisitions [...]
Spirits at Marston’s pubs lifted by influx of Christmas diners January 22, 2013 PUB and brewing company Marston’s, known for beer brands such as Marston’s Pedigree and Hobgoblin, said comparable sales rose 5.8 per cent at its pubs in the Christmas holiday season. The company, which operates around 2,150 pubs across England and Wales, said like-for-like sales at its managed pubs in the three weeks ending 5 January [...]
Analyst Views | Is Sabmiller brewing future growth? January 22, 2013 ADAM SPIELMAN CITI We doubt this statement will cause many people to change their view of the stock. However, we think it supports our investment case: we have a Buy on the stock because we believe investors will see over time that the good things about SAB will continue and that the two problem markets [...]
