Expect the goals to flow at the Etihad September 20, 2012 THE first Super Sunday of the season is nearly upon us and it promises to be an intriguing afternoon with Manchester City hosting Arsenal and Manchester United making the short trip to Anfield. Roberto Mancini will have to pick up his side after a demoralising 3-2 defeat at Real Madrid on Tuesday. It would have [...]
Pay boom over for UK bosses September 20, 2012 SALARIES for Britain’s top bosses are rising at below the rate of inflation and bonuses shrank in the last year, hit by the economic slump and tougher scrutiny of executive pay, according to research out today. The figures from Deloitte show that even FTSE 100 chief executives are feeling the pinch this year, with the [...]
Fund managers say more Libor resignations are on the way September 20, 2012 THE VAST majority of fund managers expect more heads to roll over the Libor crisis as more banks become implicated, according to a survey out today. Capital Spreads found 84 per cent expect more chief executives to follow former Barclays boss Bob Diamond in resigning over rate manipulation. “So far management at other major UK [...]
FTSE 100 down on weak Chinese data September 20, 2012 The FTSE 100 fell in early trading this morning, as the miners that rose on the blue chip index yesterday fell on weak manufacturing data from China, which spurred concerns about demand for the oil and metals market. Miner Ferrexpo, steelmaker Evraz and Aquarius Platinum led the fallers, down 5.5, 5.37 and 4.92 per cent [...]
FSA flagged up Diamond flaws September 19, 2012 BOB Diamond and Barclays chairman Marcus Agius were both warned in 2010 that the bank’s new chief executive could be undermined by the Libor-fixing investigation, according to official documents published yesterday. But the bank and the Financial Services Authority (FSA) still declared Diamond a suitable person to run a major bank, allowing him to take [...]
FTSE 100 rebounds on Japan’s stimulus September 19, 2012 The blue chip index opened up this morning, as investors were encouraged by the Bank of Japan’s decision to extend its asset purchase programme by 10 trillion yen. Miners led the index up in early trading, as investors were also buoyed by the end of the strike at Lonmin’s Marikana mine. Ferrexpo added 4.74 per [...]
Barclays and Macquarie to help fund London wind farm work September 18, 2012 THE WORLD’S biggest offshore wind farm came a step closer to completion yesterday as an array of engineers and financiers were picked to fund and run the power lines linking the site to land. Blue Transmission, a consortium made up of Macquarie, a Barclays infrastructure fund, Mitsubishi and Frontier Power, have preferred bidder status to [...]
City Moves | Who’s switching jobs September 18, 2012 Barclays Tom Wood has been appointed head of professional services at the banking group. He joined Barclays in 2007 as a relationship director, and most recently spent three and half years as corporate director and deputy head of its professional services team. Wood has also held roles at RBS. Jupiter Asset Management Andrew Clark has [...]
Miners and financials fall on the FTSE 100 September 18, 2012 The blue chip index sank in early trading, as headline mining and financial shares pulled it down. Electrical connections provider Volex was down by more than 30 per cent in early trading as it announced it expects full-year profit and revenue to fall short of expectations. Miners Ferrexpo and Eurasian fell by 4.68 per cent [...]
Iconic Hamleys stores sold to French group September 18, 2012 BRITISH toy shop Hamleys was yesterday sold to French toymaker Groupe Ludendo for £60m. The family-owned French giant has taken the 252-year-old business out of the hands of failed Icelandic lender Landsbanki, which last year rejected a £60m offer from the Bahraini investment bank Global Banking Corporation. “We are delighted to be acquiring Hamleys today,” [...]