GOVERNMENT FUELLING YEN STRENGTH September 29, 2009 AS THE WEEK began, the yen continued its rampage through the currency market, hitting an eight-month high against the dollar on the first trading day of the week. I recently noted that since the greenback has become the prime funding source for the carry trade, the yen is no longer the whipping boy of the [...]
Sterling will remain weak, and that’s a good thing too September 29, 2009 YOU’D need to have been living on a desert island not to have noticed the beating that sterling has taken lately. The pound has lost nearly a quarter of its value in the last two years, but saw the losing streak gather pace in the last week. True to form, that was accompanied by an [...]
Pop Art and poetry in the Supreme Court September 29, 2009 TOMORROW the Supreme Court opens its doors for official business. Earlier this month an outspoken contribution from Lord Neuberger almost eclipsed a rather predictable controversy about the appropriateness of a £59m revamp of its new home in Parliament Square, which included commissioning pop artist Sir Peter Blake to do the carpets (“alarmingly garish”, according to [...]
SPEAKER’S CORNER September 29, 2009 DALE GABBERT PARTNER, REED SMITH FOLLOWING recent controversy surrounding the draft directive for EU hedge fund regulation, some perspective has returned as the Swedes take control of the EU Presidency and attempt to untangle the issues and build some consensus among stakeholders. One of the big areas identified by the Swedes is the need to [...]
Fallout from recession to put lawyers in the dock September 29, 2009 APART form Bernie Madoff, prosecutions in the wake of the financial crisis have been few and far between. Bankers, it seems, are in the clear over their behaviour during the boom. Lawyers, however, might be in the firing line. Last week two lawyers charged with insider trading by the Financial Services Authority (FSA) were committed [...]
Audi’s dream-mobile September 29, 2009 IS it me or have Audi toned down their design approach? They used to love a bit of flared wheel arch where possible, stance and statement arriving hand in hand. Has the recession blunted their flair? I’ve recently spent a week with another of thier cars, the awesome S3, which for me offers one of [...]
WINTERS IS OUSTED FROM JP MORGAN September 29, 2009 BILL Winters, JP Morgan Chase’s senior figure in European investment banking, has been sensationally ousted, after chief executive and chairman Jamie Dimon made it clear that he did not want the popular banker to succeed him. Winters, whose departure was announced yesterday, will be succeeded as co-chief executive of JP Morgan by the group’s head [...]
OUT OF OFFICE September 29, 2009 RAT PACK AT THE ADELPHINewly opened this week, Rat Pack – Live from Las Vegas celebrates the world of Frank Sinatra, Dean Martin and Sammy Davis Jr in their Vegas heyday. Recreating the glitz, glamour and heady atmosphere of Sin City in the 50s and 60s, the show includes a 15 piece orchestra and a [...]
DOGGED BROWN VOWS TO FIGHT September 29, 2009 PRIME Minister Gordon Brown continued his assault on the City yesterday, promising that “the banks will pay back the British people”. Speaking at the Labour party conference, Brown told delegates to “dream big dreams” and put behind them the mood of defeatism. But his fight back will be dealt a major blow this morning, when [...]
Arsenal late show as Van Persie breaks Greek resolve September 29, 2009 ARSENAL (2) vs OLYMPIACOS (0) ARSENAL manager Arsene Wenger enjoyed the luxury of shrugging off his side’s wastefulness after late strikes from Robin van Persie and Andrey Arshavin maintained their 100 per cent start in Europe. The Gunners allowed a host of chances to pass them by until the 78th minute, when Van Persie converted [...]
