BP investors raise Russian claim September 21, 2011 Minority shareholders in TNK-BP, the Russian oil firm half-owned by BP, have more than doubled their claim for damages over the firm’s attempt to ally with Rosneft to 154.3bn roubles (£3.16bn). The litigation led to BP’s Moscow office being searched by bailiffs last month. BP said the “amount of alleged damages is unproven and baseless”.
CITY MOVES | WHO’S SWITCHING JOBS September 21, 2011 BlackRock David Snowdon has joined the investment manager’s Defined Contribution business to focus on business development by taking the BlackRock proposition to market and building relationships with DC clients. Snowdon joins from Barclays, where he spent six years as an employee benefit consultant, responsible for providing advice to and developing relationships with corporate clients. Prior [...]
BEST OF THE BROKERS September 21, 2011 LEGAL AND GENERAL UBS rates the investment and insurance group as “neutral” and reduces its target price to 95p from 114p, due to a nine per cent decline in the sector since June. The broker reduces its 2012 shareholder equity forecast by five per cent, and sets the new price target at 68 per cent [...]
FTSE commodities drop on fear over Fed announcement September 21, 2011 BRITAIN’S top shares dropped back yesterday, led by weakness in commodity issues as investors nervously awaited the outcome of a US Federal Reserve meeting with expectations for further economic stimulus seen as already discounted. The FTSE 100 closed down 75.30 points, or 1.4 per cent at 5,288.41, retreating after a two per cent bounce on [...]
US grim forecast spooks investors September 21, 2011 THE Federal Reserve’s warning that the US faces a grim economic outlook jolted investors yesterday, driving down US stocks more than two per cent, while benchmark Treasury yields hit a more than 60-year low on the Fed’s announcement of a $400bn bond-buying programme. The dollar rallied against the euro and the yen, buoyed by the [...]
This year’s hot sectors: risk and compliance September 21, 2011 WE’VE been told that the boom years are over. The fast-growth sectors of City employment have ground to a halt. New job opportunities will be fewer and far between. Well, that is unless you work in risk and compliance: the fallout from the credit crunch has given a new lease of life to these sticklers [...]
How to go about asking for that raise September 21, 2011 HEADHUNTER, ROBERT HALF EMPLOYEES are currently faced with a barrage of contradictory news and opinions about economic and business forecasts and the potential impact of these on their own career prospects. While some companies within the financial services sector may be maintaining a tight hold of their purse strings, others have seen some buoyant remuneration [...]
Companies don’t pay taxes: we do. A Tobin Tax will cost us far more than it collects September 21, 2011 GLORY be, we are to be saved! As the TUC, President Nicolas Sarkozy, Chancellor Angela Merkel and the European Parliament agree, impose a Financial Transactions Tax (FTT) upon the banks and Europe, or at least the euro, will be saved. The banks shall pay for their errors and kittens will gambol in sunshine once again. [...]
It is always the perfect time to start a business September 21, 2011 WHY would now be a good time to start your own business, when the economy is weak and all around is pessimism? Well the truth is that plenty of great companies were started in downturns. In the depths of the Great Depression in the 1930s, Walt Disney launched his eponymous animation company, now almost the [...]
A lack of leadership is tearing Europe apart September 21, 2011 IN a moment of truth after losing referendums in France, the Netherlands and Ireland, Jose Manuel Barroso, the European Commission president, admitted to me that the EU could seem like a conspiracy by political elites against their citizens. Never has that been truer than of the euro crisis, which really is crunch time for Europe. [...]
