FTSE falls as Italy’s bond sale reduces investor confidence November 14, 2011 BRITAIN’S top shares fell yesterday as the latest Italian bond auction dented investor confidence in the ability of new governments in Italy and Greece to tackle Europe’s debt crisis. An Italian five-year government bond auction delivered an early market view on former European Commissioner Mario Monti’s leadership after he was installed as Prime Minister of [...]
Inheritance issues stoke family feuds November 13, 2011 FOUR in 10 wealthy Britons do not trust their children to protect their inheritance, according to a report published this morning. And the higher an individual’s wealth, the more likely they are to cut people out of their will. Barclays Wealth has estimated that five per cent of those with disposable wealth between £1m to [...]
FTSE in modest gains as Italy and Greece fight to win back market credibility November 11, 2011 Banks led modest FTSE 100 gains in early trading as Greece and Italy fought to convince investors that they could fight back from the economic abyss. Italy, the latest Eurozone nation to come under pressure in the bond market, moved closer to a national unity government, while its treasury managed to sell one-year bills at [...]
Barclays private equity unit in management buyout November 11, 2011 Barclays Private Equity is being bought out by its own management team and will be relaunched as Equistone Partners Europe, it said, adding that the value of the gross assets being sold off was expected to be around £45m. Barclays, which last month posted higher profits as gains in its retail banking and credit card [...]
CITY MOVES | WHO’S SWITCHING JOBS November 10, 2011 Sciens Sciens Fund of Funds Management Holdings has appointed Alex Allen as senior portfolio manager in Sciens’ fund of hedge funds business. Based in the London office, he will report to Stavros Siokos, president of the Sciens fund of hedge funds and managed account platform businesses. Prior to joining Sciens, Allen was a co-founder and [...]
US trade gap narrows and jobless claims fall November 10, 2011 The gap between US exports and imported goods has fallen to its lowest level this year while new claims for jobless benefits have dropped, in signs that the economy is picking up. The US Commerce Department said the seasonally adjusted US trade deficit shrank to $43.1bn (£26.9bn) in September, its narrowest since December 2010, thanks [...]
CITY MOVES | WHO’S SWITCHING JOBS November 9, 2011 DLA Piper Tony Angel, the former firm-wide managing partner of Linklaters, has joined DLA Piper as global co-chairman and senior partner of the international law firm. He will serve alongside global chairman Francis B Burch Jr and work with the firm’s chief executives Sir Nigel Knowles and Lee I Miller. Following his tenure at Linklaters [...]
FTSE falls as Italy debt yields spook investors November 9, 2011 BRITAIN’S top shares sank to their lowest close for a week yesterday on spiralling concerns over Italy’s debt as the country’s bond yields raced to dangerous levels. Italy was thrown into the spotlight as its 10-year bond yields shot above seven per cent, levels that forced bailouts in Ireland, Portugal and Greece, and as investors [...]
Modelling a return to the old currencies November 9, 2011 THOUGH the debates and political squabbling will continue to rage on in the gilded offices of politicians and central bankers, we have reached the point where many will be looking at the practical side of a return of one or more of the old European currencies. But which will be the first to fall? The [...]
Markets slip as Italy debt crisis deepens November 9, 2011 Dramatic political changes at two of the Eurozone’s crisis-ridden economies initially boosted world stocks but markets went into reverse as it became clear that Italy’s debt woes were escalating. Italian Prime Minister Silvio Berlusconi said late yesterday that he would step down after parliament passes budget reforms. Greece, meanwhile, was working create a consensus government [...]