Emerging financial centres to watch for a future career July 19, 2013 AS THE world’s leading financial centre, London is one of the best places in the world to work in finance. The Global Financial Centres Index (GFCI) 2013 gives London a rating of 807 – far ahead of rivals New York (787) and Hong Kong (761).But more cities are making their mark, and Richie Holliday of Morgan [...]
What the other papers say this morning – 19 July 2013 July 18, 2013 FINANCIAL TIMES Sheikh in Barclays rescue sells stake The Abu Dhabi sheikh who came to the rescue of Barclays Bank with a £3.5bn capital injection at the height of the financial crisis, has sold his stake in the UK bank. The sale of the seven per cent stake – which took place three weeks ago [...]
LSE shares soar as acquisition boosts revenues July 18, 2013 SHARES in the London Stock Exchange (LSE) topped the FTSE 100 yesterday, rising more than seven per cent after first-quarter revenues at the group beat expectations. Revenues in the three months to the end of June were £249.7m – 39 per cent higher than a year ago when they came in at £179m, and comfortably topping [...]
Inside track: When banks become unwelcome investors in property July 18, 2013 TWO INVESTMENT banks, Goldman Sachs and Deutsche Bank, will for the next few months be keeping a beadier eye than usual on the German property market. The pair have just emerged as holding a combined stake of around 13 per cent in Gagfah, the second-largest owner of German homes, as a consequence of not being [...]
Rise in profits at BlackRock as investors flock July 18, 2013 BLACKROCK, the world’s largest money manager, said yesterday that its second-quarter profit rose 32 per cent, citing strong global demand from its retail and institutional clients and growth in markets. Net income at the New York-based company totalled $729m (£479m), or $4.19 per share, up from $554m, or $3.08 per share, a year earlier. Excluding [...]
FTSE surges upward to join US stock markets July 18, 2013 Following record breaking gains from US stock markets (the S&P also broke new highs shortly after posting), the FTSE is up over one per cent, driven by rallies in the Royal Bank of Scotland, Aberdeen Asset Management, Barclays and the London Stock Exchange. Lloyds Banking Group, Kingfisher and ASOS have also hit new highs. This [...]
Morgan Stanley revises down US GDP forecast July 18, 2013 Morgan Stanley has cut its second quarter GDP forecast for the US to 0.3 per cent from 0.4 per cent. The unexpected fall in housing starts and permits in June was probably temporary, said economist Ted Wieseman, but enough to warrant cutting the outlook. After a 9.4 percent pullback from the February cycle high, single-family [...]
London Stock Exchange reports solid revenue growth and a good start from new acquisition July 18, 2013 The London Stock Exchange has reported a 39 per cent annual increase in revenues to £249.7m for the three months ended 30 June 2013, boosted by £49m in revenues from its LCH.Clearnet acquisition and growth across all business divisions. Commenting on performance in the past quarter, group chief executiveXavier Rolet said: The Group has made [...]
Unemployment down but more time spent jobless July 17, 2013 THE NUMBER of people without jobs who are looking for work fell by 57,000 between March and May, against the previous three months, the Office for National Statistics (ONS) revealed yesterday. Yet the number of people who are unemployed for more than a year or two is on the rise. In the same space of [...]
City Moves for 18 July 2013 | Who’s switching jobs July 17, 2013 Westhouse Securities The broking group has announced the appointment of Paul Locke as investment funds analyst. He joins from Cantor Fitzgerald Europe, where he was a senior funds analyst. Prior to that, he was a senior funds analyst at Canaccord Genuity. Lloyds Bank John Richardson has joined Lloyds Bank Commercial Banking as head of building [...]