Weak economy means Belgium could be next to join the Pigs February 10, 2010 GREEK public deficit worries have been widely reported in the mainstream media. The government’s problems with its budget led to severe pressure on Greek sovereign bond yields and credit default swap spreads, which at one point were over 400 basis points over equivalent German sovereign yields. On 3 February the European Union executive announced that [...]
Temasek sets up an Asian focused investment firm February 10, 2010 SOVEREIGN wealth fund Temasek Holdings yesterday confirmed that it is setting up a new global investment firm called Seatown, which will be headed by its chief strategist Charles Ong. Seatown – the English translation of Temasek – is expected to have an investment capital of around $3bn (£1.9bn) to be invested in emerging markets with [...]
UK AT RISK | THERE’S ROOM IN THE STY February 10, 2010 CHANCELLOR Alistair Darling might have hoped that the Greek sovereign debt crisis would draw attention away from the parlous state of Britain’s own public finances. He will have been sorely disappointed – the Eurozone’s troubles have only highlighted the problems facing other highly indebted countries such as the UK and the US. The ratings agencies [...]
Vacancies lure bankers into new role hunt February 10, 2010 The jobs market in the City got off to a good start this year, with job opportunities in financial services jumping by 60 per cent last month. Newly available job vacancies surged to 4,646 from 2,898 a year ago, when hiring in the sector hit a low point. Following the usual seasonal dip in hiring [...]
Encouraging signs for job-seeking graduates February 10, 2010 THE number of opportunities for graduates remains in decline, but not by as much as previously expected. And for those hoping to enter the City after university, prospects remain good, according to the latest report from the Association of Graduate Recruiters (AGR). As I have argued in this column before, the City remains an excellent [...]
Autonomy builds a £500m war chest for acquisitions February 10, 2010 AUTONOMY was back on the acquisition trail yesterday, raising £500m in a convertible bond issue to snap up a target in the US. Chief executive Mike Lynch said: “We’ve got our eye on a couple of potential targets, but we need to get the cash before we can start having proper conversations.” He said Autonomy [...]
Bidders circle German Kabel February 10, 2010 A CLUSTER of private equity firms are circling Kabel Deutschland, the German cable TV operator chaired by former BSkyB chief executive Tony Ball, it emerged yesterday. BC Partners and CVC Capital Partners joined forces earlier this week to launch a combined offer for the business. Bain Capital is also considering making an offer, while other [...]
Competition Commission to continue fight over BAA sale February 10, 2010 THE Competition Commission (CC) is continuing its fight to force BAA to sell some of its airports, challenging a tribunal judgement giving BAA the right to appeal. The Competition Appeal Tribunal (CAT) last year ruled that the CC’s decision that Ferrovial-owned BAA should dispose of London Stansted and Scotland’s Edinburgh or Glasgow airports within two [...]
Diaby keeps Arsenal in sight of top February 10, 2010 ARSENAL boss Arsene Wenger hailed a “fantastic night” after Abou Diaby’s goal blew the title race back open. Midfielder Diaby struck with a bullet 72nd-minute header from Tomas Rosicky’s cross to settle an otherwise scrappy affair and end the Gunners’ four-match winless run. And with both Chelsea and Manchester United crucially dropping points in the [...]
Tories accuse Labour of planning £20,000 levy to fund social care February 10, 2010 THE Tories yesterday accused Labour of planning a £20,000 “death tax” to fund the care of the elderly. Yesterday morning health secretary Andy Burnham said a compulsory levy on every estate was not on the agenda. “I do not believe that would be the right way,” he said. But Gordon Brown refused to rule it [...]
