Banks to need capital, says Ackermann September 8, 2009 DEUTSCHE Bank chief executive Josef Ackermann issued a cautious assessment of recovery in the banking sector yesterday, saying that lenders might still need more capital. Speaking at the “Banking in Transition” conference in Frankfurt, Ackermann said some banks would need to raise new capital and predicted that the real estate market would go through further [...]
Mattioli Woods enjoys jump in pre-tax profit September 8, 2009 SPECIALIST pensions consultancy Mattioli Woods yesterday reported pre-tax profits up 11.3 per cent for the year to the end of May. The Aim-listed firm saw profit before tax jump from £3.71m last year to £4.13m, on the back of a 22.6 per cent rise in revenue from £10.83m to £13.28m. The company is also proposing [...]
The dragon that says the financial services industry is losing its fire September 8, 2009 THERE are over 20 photos of James Caan on the walls of his Mayfair office, excluding the three caricatures. One shows him alongside former President George W Bush and Colin Powell while there is also the obligatory snap of him accepting an honorary degree. Another has him pictured with his co-stars in BBC 2’s Dragons’ [...]
Tax lawyers defend off-shore regimes September 8, 2009 IFEAR you will have no choice but to consider new taxes, perhaps payroll and property taxes such as in the British Virgin Islands,” wrote Chris Bryant, the junior foreign office minister, to the Cayman Islands government this month. It was a withering response to a request made by the British overseas territory to Westminster for [...]
CITY CAN BE THE CRUNCH CASE CAPITAL September 8, 2009 ANTHONY MATONPARTNER AT HAUSFELD & CO LLP SINCE the credit crunch started in the US in 2007, the subsequent banking crisis has spread across the globe. The UK’s legal profession may have suffered as a consequence, but we have also been presented with a golden opportunity to position London as the international venue of choice [...]
Doing a Fuld might make you happy, but not always popular September 8, 2009 YESZOE STRIMPEL I WAS recently trying to coordinate a weekend out with my parents, who were visiting from the States. I put a lot of plans into the mix – I tried to be a bit flashy, to show them what I could do. Yet despite my best efforts, the whole sequence of events got [...]
When pearls have to pay for house tax September 8, 2009 DEAR VEXED: Dear Vexed, I’m moving house but we’re a little short of money. Should I pawn my jewels to pay for stamp duty? Millie, 31, banker OH dear, things have come to a sad pass, haven’t they? I’m not talking about the fact that money is so scarce you can’t just pay for stamp [...]
OUT OF OFFICE September 8, 2009 STARS AT TOWER FESTIVALThe Tower Festival is upon us yet again: hurry to get tickets for Nigel Kennedy on Thursday – on Friday there’s a Sadler’s Wells extravaganza not to be missed and on Saturday it just gets better with the divine Lesley Garrett and the Fron Male Voice Choir. Let’s hope the weather holds [...]
CRAZY HORSES beneath the bonnet September 8, 2009 BENEATH a considerable amount of wing, skirt and angular metal lies a car, the chavmobile that is the FQ 400. I clamber on board the Mitsubishi gunship, turn the ignition key and on comes Radio 3. What? The delivery driver, an ex-policeman, had been driving the mother of all on-road anarchy magnets whilst listening to [...]
‘Thank you Mr Bilic, that is my perfect team talk’ September 8, 2009 ENGLAND boss Fabio Capello yesterday laughed off Slaven Bilic’s attempt at playing mind games – instead thanking the Croatia boss for providing his with his team talk for tonight’s crunch World Cup qualifier. Victory at Wembley tonight will ensure Capello’s men will qualify for South Africa next summer, possibly even at the expense of a [...]
