CITY MOVES | WHO’S SWITCHING JOBS July 4, 2012 Psigma Psigma Investment Management has appointed Nina Krishna to the newly-created role of chief operating officer. She recently worked as chief operating officer for global banking, markets and private banking for HSBC in Dubai. Krishna has 30 years’ experience in the industry, and has held senior roles at JP Morgan, UBS. She started her career [...]
BEST of the BROKERS July 4, 2012 BRITVIC Numis rates the drinks firm “hold” and has a target price of 320p. The broker thinks the miserable weather has dampened Britvic’s third quarter sales, having endured the wettest June on record, and reckons the firm will see a 2.1 per cent drop in revenues to £318.2m, dragging annual growth to 0.1 per cent. [...]
FTSE ends flat in thin trade with US shut and all eyes on central banks July 4, 2012 BRITAIN’S top share index edged down in thin trade yesterday, moving within a tight range as investors awaited central bank meetings today that many expect to result in fresh economic stimulus. A US holiday contributed to low volumes across the market, at less than half the 90-day daily average, with many investors preferring to wait [...]
Trust has lost all of its value in our state-regulated financial markets July 4, 2012 THE spotlight in the Libor rate-fixing scandal has moved. Questions are being asked about the culpability of the FSA, which may well have ignored repeated warnings about Libor calculations from market participants. The role of the Bank of England and the Treasury is also being questioned. Of course, regulators are not to blame for the [...]
Obama’s healthcare victory could prove a poisoned chalice in November July 4, 2012 FOLLOWING the ratification of the US Constitution, Benjamin Franklin quipped that “in this world, nothing can be said to be certain, except death and taxes.” Due to the creative jurisprudence of Chief Justice of the Supreme Court John Roberts, President Barack Obama can be thankful that the death of his health care reforms has been [...]
The Higgs boson discovery is only the first chapter July 4, 2012 SCIENTISTS at the European Organisation for Nuclear Research (Cern) announced yesterday that they have identified a new heavy particle with all the properties expected of the Higgs boson – first predicted to exist in the 1960s. This is not the first new particle that experiments at the Large Hadron Collider at Cern have discovered since [...]
As Barclays’ rate-fixing revelations continue to emerge, should this be the end for Libor? July 4, 2012 YES Tim Price There has to be a more honest and efficient way of establishing market interest rates than having banks submit – whether fraudulently or not – where they think they might be able to borrow from or lend to their competitors, and then crudely averaging the results. One answer might be to allow [...]
RAPID RESPONSES July 4, 2012 Systemic failure [Re: Crisis threatens UK’s entire politico-financial establishment, yesterday] This crisis is not essentially about greed or malfeasance by commercial banks, but about the toxic environment created by decades of misconceived policies by governments, and enablors and abettors in central banks. The Barclays’ affair is potentially explosive, so let’s hope the media start asking [...]
YouView…. Well, you might. July 4, 2012 Digital TV service YouView was finally unveiled by Lord Alan Sugar yesterday, albeit long after its slated 2010 release date. The joint venture between the BBC, ITV, BT, Channel 4, Channel 5, Arqiva and TalkTalk offers a host of catch-up, on demand and streaming services and it promises more partners are ready to join. But [...]
YOUVIEW’S RIVALS July 4, 2012 Freeview Freeview might be a slightly spurious inclusion, but YouView has to convince people they need to shell out a pretty big sum to upgrade their current set-top box. Lots will stick with what they already have. Google TV Google TV has been something of a disaster in its native US, with the major networks [...]
