Pick wisely and small cap firms could prove a real goldmine July 22, 2009 INVESTING in small companies has traditionally been seen as a risky business, reserved only for those with plenty of experience and deep pockets. But with global diversified blue-chip stocks running into trouble, it is no surprise that investors have started to see the lower echelons of the FTSE index as more attractive. Indeed, only last [...]
WHERE TO DRINK CHAMPAGNE IN THE CITY July 22, 2009 VERTIGOTower 42, EC2NShowy and high glam, this is a devoted champagne bar with the best views in town – perched right at the top of Tower 42 (pictured right). There is a fantastic choice of bubbly, including Veuve Delaroy Brut (£46), Georges Vesselle Bouzy Grand Cru (£66), two Bollies, a Krug (£385) and several Laurent [...]
In a bubbly mood July 22, 2009 BAB – short for “bonuses are back” – has replaced “doh” as the word on the City’s streets, following revelations that bankers raked in end-of-year payouts like the credit crunch was all just a bad dream. But whatever the reality for those outside the gilded top offices of the Square Mile and Canary Wharf, there [...]
Best beach reads July 22, 2009 MY SOUL TO TAKE by Yrsa SigurdardottirHodder, £11.99This Icelandic thriller is cooler than most from the get go. Where else could you find a ballsy Reykjavik lawyer with little time for nonsense called upon to investigate a haunting at a plush but doomed new age hotel on the wild Icelandic coast? A gruesome murder kicks [...]
UK is the spot for distress July 21, 2009 The UK has consistently had the most distressed companies in western Europe over the past two years, according to a report by Close Brothers. The UK has had nearly a quarter of all distressed companies so far this year, compared with 14 per cent in Germany, 12 per cent in Italy and six per cent [...]
Governator agrees state budget July 21, 2009 California governor Arnold Schwarzenegger and lawmakers yesterday agreed to close a $26.3bn (£15.9bn) deficit in the state’s budget in a deal that includes $15.5bn in spending cuts, they said. The government of the most populous US state, also the world’s eighth-largest economy is facing the massive shortfall because of a plunge in revenues caused by [...]
Playtech slowed by William Hill July 21, 2009 Online gambling software provider Playtech yesterday issued a profit warning after its joint venture with William Hill made a slower than expected start to the year. Playtech, which is one of the biggest firms on Aim and which last year took a 29 per cent stake in William Hill Online, said the joint venture was [...]
VOLVO SKIDS TO A LOSS July 21, 2009 SWEDISH vehicle firm Volvo – the world number two truck manufacturer, whose chief executive said this global downturn is the worst ever – skidded to a hefty 6.7bn crown (£533m) operating loss and forecast that the recession would cause its main markets in the US and Europe to shrivel this year.
CITY MOVES WHO’S SWITCHING JOBS July 21, 2009 Julius BaerMarion Williams has joined the Swiss wealth management firm to promote its product range to UK clients and focus on third party relationships, including fund platforms and distributors. Williams joins the team from Threadneedle, where she worked with life companies, platforms, fund of funds, stockbrokers, IFAs and private banks. Prior to that, she was [...]
Government told to face up to failings over Equitable Life at the High Court July 21, 2009 THE GOVERNMENT was yesterday told it can not “evade reality” over its obligations to victims of the Equitable Life crisis. The criticism, made by a group of policyholders who lost out due to the near-collapse of the firm, came at the start of a landmark High Court case. The Equitable Members Action Group of 21,000 [...]
