No bonus for Morgan Stanley chief December 20, 2009 Morgan Stanley’s outgoing chief executive, John Mack, will not receive a bonus for the third year in a row. The board was willing to pay him one for his role in the bank’s survival, but Mack, who will remain chairman, insisted he should not receive it. The bank is set to make its first annual [...]
Moulton eyes 10 deals for new vehicle December 20, 2009 JON MOULTON is looking closely at the purchase of up to 10 stricken companies, including an automotive parts manufacturer, a building supplies firm and a garden equipment maker. The private equity guru, whose new investment vehicle Better Capital made a successful debut on the stock market last week, told CityA.M. that the rate of companies [...]
Service companies key to City’s business success December 20, 2009 In light of recent headlines it is hard to believe that London’s ongoing reputation as a world class financial centre depends on anything other than tax and regulation but I assure you it is true. One of the City’s traditional advantages, especially over emerging markets, is the quality of its local services – firms and [...]
CITY MOVES | WHO’S SWITCHING JOBS December 20, 2009 PricewaterhouseCoopers The accountancy firm has appointed Martin Caddick to lead its risk and business continuity management services team. Caddick joins from insurance broking and risk advisory firm Marsh, where he developed a successful business continuity practice and worked with numerous Fortune 500 companies in the UK and overseas. He also previously held director roles at [...]
BEST OF THE BROKERS December 20, 2009 FORTH PORTS Investec Securities kept its recommendation for Forth Ports as “buy”. Investec says the ports group should deliver robust business in a challenging economic environment, and praised the group’s resilience, thanks to a high level of contract cover and spread of commodities handled. The target price is 1,500p. ARIGHTMOVE Collins Stewart reiterated its “buy” [...]
Dubai World creditors expect request for a standstill agreement at meeting December 20, 2009 Bankers expect Dubai World to make a formal request for a standstill on its $26bn (£16.1bn) debt at today’s creditor meeting, but it could be more than a month before banks agree, bankers have revealed. Banks are expected to support Dubai World’s request, but what happens next will depend on the information they receive about [...]
Taking a punt on industrial strife can be a winner December 20, 2009 THE High Court may have helped restore Christmas cheer for passengers of British Airways by ruling that the proposed 12-day strike by the airline’s cabin crew was invalid, but investors should arm themselves with trading strategies for a 2010 that could be rife with industrial action. But the dispute is far from over. After the [...]
Brazil’s stock index is well worth a bet December 20, 2009 SPEAK to any strategist at any investment bank and you will hear the common refrain that emerging markets will drive the global economy in 2010. While this is undoubtedly true, there is a tendency to blindly associate emerging markets with Asia – and China in particular. Spread betters should make sure they consider the whole [...]
EURO STATES’ STRIFE ADDS TO VOLATILITY December 20, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM DURING 2009, the main story in the currency markets has been the decline of the dollar, dictating the movements of many dollar pairs. Euro-US dollar was driven almost exclusively by dollar fundamentals while issues this side of the Atlantic remained decidedly less relevant. But over the past couple of weeks, [...]
THE TIPSTER December 20, 2009 THE markets may have traded sideways for most of December but expect some volatility over the next couple of weeks. During the period between Christmas and New Year the markets can often move higher, which could benefit the FTSE 100. Capital Spreads offers a price of 5,245-5,246. The announcement of a new chief executive at [...]
