CITY MOVES WHO’S SWITCHING JOBS April 4, 2012 Universal Music The music company has promoted Laurence Hulin to vice president, emerging markets, effective immediately. Hulin will report to Olivier Robert-Murphy, global head of new business in the Universal Music Group. Hulin joined Universal Music in 2005, and for the past two years has served as vice president, business development. He has more than [...]
Miners and banks dent FTSE April 4, 2012 The FTSE 100 was dragged back by weaker mining stocks after minutes from the US Federal Reserve’s March meeting revealed that it is not planning any more monetary stimulus. Federal Reserve policymakers have backed away from the need to pump more money into the system as the US economy gradually improves, minutes of the central [...]
Debt issuance up 69 per cent at start of 2012 April 3, 2012 GLOBAL debt capital markets (DCM) activity totalled $1.7 trillion (£1.06 trillion) in the first three months of 2012, a 69 per cent increase on the fourth quarter of 2011, according to figures from data supplier Thomson Reuters. Their report shows that early 2012 was the most successful quarter for debt issuance in three years. Financials [...]
CITY MOVES WHO’S SWITCHING JOBS April 3, 2012 Post Office Virginia Holmes is joining the board of the Post Office as a non-executive director. Holmes has previously served as chief executive of AXA Investment Managers UK, and spent more than a decade with the Barclays Group, where she was ultimately managing director of Barclays Bank Trust Company. She currently sits on the board [...]
Recession fears brushed off by UK businesses April 2, 2012 FEARS of a technical recession have eased as a couple of upbeat business surveys suggest that the UK economy grew in the opening three months of the year. The British Chambers of Commerce (BCC) announced this morning that they expect GDP expansion of 0.3 per cent in the first quarter of 2012, reversing the knock-back [...]
CITY MOVES WHO’S SWITCHING JOBS April 2, 2012 Marsh The global insurance broking and risk management firm, a subsidiary of Marsh & McLennan Companies, has announced the appointment of Edwin Charnaud as chairman of its global infrastructure practice. Reporting to chairman, global industries Jim Pierce, he will continue to be based in London. Charnaud will retain his current responsibilities as leader of Marsh’s [...]
FTSE posts big rise as US and China manufacturing data ease concerns April 2, 2012 BRITAIN’S top share index posted its biggest daily rise in two months yesterday, up nearly two per cent as manufacturing data from the world’s biggest economies eased concerns over sluggish growth, offsetting uncertainty in Europe. Rising shares of mining companies also helped. London’s blue chip index climbed 106.44 points, or 1.9 per cent to 5,874.89. [...]
Entwhistle looks to raise £75m to launch new UK bank Scoban April 2, 2012 British financier Ray Entwistle is hoping to raise £75m to get his new private bank, Scoban, up and running although he said the process was taking longer than planned. Entwistle, who spent much of his career at private bank Adam & Co and helped sell the firm to Royal Bank of Scotland in 1993, said [...]
Goldman Sachs leads Diageo to stake in Cuervo April 1, 2012 GOLDMAN Sachs is working closely with Diageo as the spirits company hones in on its deal to buy equity in $3bn-plus (£1.9bn) tequila brand Jose Cuervo. Along with UBS and Credit Suisse, Goldman is expected to lead Diageo to a deal with Jose Cuervo by the early summer, possibly as soon as next month. The [...]
FTSE buoyed by miners March 30, 2012 The FTSE 100 rebounded in early trading as mining stocks continued to edge up. In London copper prices climbed and are on track for a more than 10 per cent first-quarter gain. However more sluggish demand from China is still casting a shadow. Among miners Kazakhmys and Antofagasta were the star performers, up two per [...]