Learning how to live with open-ended QE September 17, 2012 FEDERAL Reserve chairman Ben Bernanke last week did what the markets had been waiting for. He announced that the US central bank would be rolling out another round of its controversial quantitative easing program (QE3). The Fed will commit to monthly asset purchases of $40bn (£ 24bn) until a substantial improvement is seen in the [...]
FTSE 100 slips after touching highs last week September 17, 2012 The main share index opened down this morning, as it retreated after touching six-month highs on Friday thanks to the US Federal Reserve’s annoucement of unlimited stimulus. Miners led the index down, as slowing growth in China forced base metal prices lower. Ophir Energy lost 4.06 per cent in early trading, despite it announcing better-than-expected [...]
Sweden fears bank union will hit its top institution September 17, 2012 SWEDEN became the latest country to oppose EU banking union plans over the weekend, joining Germany in rejecting parts of the latest plan to centralise power in the Eurozone. The move could scupper the European Commission’s plans – it had hoped the new setup would be in place by the end of this year, an [...]
Industry body joins bosses in fight to repair banks’ image September 16, 2012 THE BRITISH Bankers’ Association (BBA) will take the fight to the enemy, its new boss announced over the weekend, vowing to proactively promote the industry rather than just defend banks when they are under pressure. Anthony Browne is taking up the push spearheaded by Lloyds chief executive Antonio Horta Osorio and RBS head Stephen Hester, [...]
FTSE 100 up sharply on US economic stimulus September 14, 2012 The blue chip index jumped sharply in early trading, as it consolidated gains in the US in the wake of QE3. Headline miners led the index up, with Ferrexpo jumping 15.15 per cent in early trade, as metal prices rose on hopes of increased demand. South Africa-focused Aquarius Platinum jumped 12.48 per cent, Evraz soared [...]
Boris Bikes for south London September 13, 2012 SOUTH and west London will benefit most from plans to add 2,400 extra bikes and 5,000 new docking stations to the Barclays Cycle Hire scheme by 2014. Transport for London yesterday said more than 200 locations in Wandsworth, Hammersmith & Fulham, Lambeth and Kensington & Chelsea have been picked for new stations. Residents will be [...]
Barclays pay will be based on good behaviour September 13, 2012 NEW CHIEF executive Antony Jenkins yesterday told staff that every individual in the bank would be assessed to ensure they are keeping up with the cultural reforms that he is pushing through. The move is part of a wide-ranging push to repair Barclays’ damaged image after the Libor-rigging scandal. The reforms will include the introduction [...]
LGIM appoints Tomlinson September 13, 2012 ■ Fund manager Legal and General Investment Management (LGIM) has appointed former BlackRock man Lindsay Tomlinson onto its board. Tomlinson, a former chairman of the National Association of Pension Funds, has been appointed to the role of non-executive director. Tomlinson had been UK chief executive of Barclays Global Investors in the 90s.
Who’s switching jobs September 13, 2012 Arbuthnot Latham Linda Amili Clack has been appointed to the position of international banking director and head of Middle East private banking. She was most recently head of Mubarakia Limited Family Office. Amili Clack has over 30 years’ experience in banking, and has also held senior roles at Coutts and the Bank of Bahrain & [...]
FTSE 100 down as BAE and EADS in the spotlight September 13, 2012 The blue chip index was trading slightly down this morning, as the mega-merger between BAE Systems and EADS grabbed the headlines. Investors were also cautious ahead of a key policy decision from the US Federal Reserve, which is expected later. Publisher Centaur was a big riser in early deals, up 11.56 per cent, on news [...]