The return of the Old Fashioned is proof of a cocktail renaissance May 14, 2012 FADS in cocktails come and go, but with each movement something of the best is kept, or later rediscovered. Quality endures. And thankfully we’re drinking through something of a renaissance, with no resurgence as welcome as that of the Old Fashioned. The Old Fashioned represents everything that’s good and true. Its name derives from around [...]
JP Morgan investment chief quits after losses May 14, 2012 JPMorgan Chase & Co sacrificed investment chief Ina Drew on in response to trading losses that could reach $3bn (£1bn) or more and which have tainted the reputation of the bank’s high profile chief executive Jamie Dimon. The biggest bank in the United States by assets said Drew, its New York-based chief investment officer and [...]
FTSE dented by flailing Eurozone May 14, 2012 The FTSE 100 dipped in early trading as a breakdown of coalition talks in Greece sapped investor confidence along with more general fears over global growth. Talks to form a new government in Greece looked to have failed as left wing groups refused to join pro-bailout parties. EU ministers are meeting in Brussels later today [...]
Eurozone output falling as it lurches towards recession May 14, 2012 Output at factories in the Eurozone unexpectedly fell in March, the latest in a series of disappointing numbers signalling that the bloc’s recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 per cent in March from February, the EU’s statistics office Eurostat said. Economists [...]
Greek election looms as left parties shun coalition May 14, 2012 Greece’s radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, all but ensuring a new election that he is poised to win. Greece’s political landscape has been in disarray for a week since an inconclusive election left parliament divided between supporters and opponents of the 130bn [...]
Genel Energy in Kurdistan expansion May 14, 2012 Oil company Genel Energy is to buy a 23 per cent stake in the Bina Bawi exploration licence in Kurdistan for $175m to expans its presence in the region. The Bina Bawi licence lies alongside Genel’s already producing Taq Taq oilfield, whose current potential output is about 80,000 barrels a day, and is projected to [...]
Grexit will happen much more quickly than politicians think | City A.M. May 14, 2012 CURRENCIES are social constructs. They are only worth something because everybody else believes them to be worth something. That was partly true even of traditional, commodity backed currencies – you can’t eat gold – but it is undoubtedly the case of today’s paper money. We accept notes and coins – or digital claims to them [...]
Plus Markets considers closure May 14, 2012 Plus Markets, the British stock exchange for small companies, said it planned to shut itself down after failing to attract an acceptable takeover offer. The loss-making group, which put itself up for sale in February, has informed Britain’s financial regulator that it plans an “orderly closure” after suffering a drop in its cash reserves, it [...]
Serco buoyed by UK contract wins May 14, 2012 British outsourcing company Serco said almost £4bn of contract wins in the first half of the year and an improving outlook in the UK left it confident of meeting 2012 targets. The British group said it expected first half revenue growth to be around six per cent, almost entirely from last year’s acquisitions, with good [...]
Travis Perkins sales rise as market share edges up May 14, 2012 Builders’ merchant and do-it-yourself retailer, Travis Perkins, said it was on track to meet profit expectations for the year after posting a rise in sales and market share gains in the first four months of the year. The group, which also trades as City Plumbing, Keyline, Tile Giant, Wickes and BSS, said group revenue rose [...]
