HOLD ON TO YOUR HATS June 17, 2009 THOUSANDS of racegoers braved the wind and the rain yesterday for day two of Royal Ascot. Vision D’Etat, the winner of last year’s French Derby, beat the favourite Tartan Bearer into second place in the day’s biggest race, the Prince of Wales Stakes. The event, which goes on until Saturday, attracts runners from all around [...]
Ocado considers London flotation by early 2010 June 17, 2009 ONLINE grocery retailer Ocado is considering an IPO, City A.M. can confirm, in a drastic u-turn by its finance director Jason Gissing. Sources close to the firm said it would use the capital from a London IPO to fund international expansion, after several foreign retailers expressed interest. It is considering floating on the stock exchange [...]
Tesco sells mortgage bond June 17, 2009 There was good news for the global securitisation market yesterday when the supermarket Tesco sold £431m of commercial mortgage-backed securities (CMBS) supported by rental income from 12 of its UK stores and two distribution warehouses. The size of the deal, which was three times subscribed, was slightly above initial plans to sell £416m of bonds. [...]
TOP CHEFS’ BARBECUE RECIPES June 17, 2009 The perfect burger, by Sam and Eddie Hart, owners of Quo Vadis and FinoOnly use good quality beef with a high fat content, as this ensures the burgers will remain juicy when barbecued. Don’t add breadcrumbs – really good beef with some seasoning is all you need, with one small egg added to the mix [...]
Turner and King to face MPs June 17, 2009 The Treasury committee is to hold a series of new evidence sessions to take evidence on the financial crisis. Financial Services Authority (FSA) chairman Lord Adair Turner will give evidence on regulation and supervision on 23 June. The following day will see the governor of the Bank of England Mervyn King and colleagues speak on [...]
IMA slams EC proposals on funds June 17, 2009 The European Commission’s (EC) approach to the regulation of alternative investment fund managers is fundamentally flawed and should be met with opposition from, the Investment Management Association (IMA) said yesterday. Jarkko Syyrilä, director of international relations said the draft Alternative Investment Fund Managers directive posed “severe risks for the business model of asset management”. The [...]
Grills allowed: perfecting the art of the BBQ June 17, 2009 THERE are times when it seems a barbecue is less a way of cooking than a ritual in which we give thanks for a sunny afternoon. Men solemnly pull on the uniform of the barbecue high priest – the comedy apron – to indulge a primeval instinct requiring us to do heroic battle with smoke [...]
We need proper regulation to build a stronger economy June 17, 2009 JUST as the financial crisis has torn through the world’s financial centres over the past year, so the debate about how to prevent it happening again is now firing up political centres across the world. I strongly welcome this debate, because without proper financial regulation, there will be no lasting financial confidence, and therefore no [...]
GOLD A GOOD BET IN ALL CONDITIONS June 17, 2009 NICHOLAS BROOKSHEAD OF RESEARCH AND INVESTMENT STRATEGY, ETF SECURITIES SINCE the start of the year, the economic outlook has changed significantly and global depression has been averted. However, we are still in a period of deflation, as RPI figures out earlier this week showed. In May, inflation fell yet again in the UK, from -1.1 [...]
Investors are turning to ETFs as uncertain times continue June 17, 2009 WHEN American private equity firm Blackrock recently acquired Barclays Global Investors in a deal worth $13.5bn it was seen as a smart move by some industry analysts, largely because of BGI’s involvement in the exchange-traded-funds (ETFs) industry through its £375bn iShares business. ETFs have been big in the US for many years, and the financial [...]
