Keeping a lookout for possible shocks December 19, 2010 MAY YOU live in interesting times may sound like a blessing, but in ancient China, it was considered a curse. Spread betters may be divided on which they think it is, but 2011 certainly looks likely to be interesting. Next year could see more bank crises in Europe, burst bubbles in Asia and painful austerity [...]
Are Manchester United really about to become Qatar’s latest high-profile buy? December 19, 2010 WHEN Manchester United visited Qatar in January it was touted as a sunshine break, a chance for their title-chasing players to escape from the freezing conditions gripping England at the start of the year. But it also prompted whispers that the country’s most famous club were sounding out appetite to invest in United, or even [...]
Bob Diamond to take Barclays hotseat early December 17, 2010 Barclays said its investment bank boss Bob Diamond will take over as chief executive of the bank in two weeks, some three months earlier than planned. Diamond is taking over from John Varley, who is stepping down after six years as chief executive. The bank announced the change in September, when it said the handover [...]
THE MEN GOING PAUNCH TO PAUNCH IN 2010 FAT BANKERS COMPETITION December 16, 2010 WITH another eight days to go before the turkey is even dished out, some of us may have already had our share of mince pies and bucks fizz. But not everyone has been so indulgent. Two bankers in particular have successfully resisted the temptations of the festive season and are on track to shed almost [...]
Inflation fear up, but Posen unconcerned December 16, 2010 SUPPORTERS of a rise in interest rates were compared to “global warming deniers” yesterday by a leading Bank of England rate setter. Adam Posen said that judging the economy on “temporary” high inflation and growth levels was like denying global warming “every time we had a bad winter.” Expecting economic conditions to continue was similar [...]
High street sales edge up in November but retailers sweat over big item sales December 16, 2010 HIGH street sales were up in November, official figures showed yesterday. Sales rose 1.1 per cent on the previous year, and have now increased for every month since February, according to the Office for National Statistics (ONS). The news came as John Lewis announced a sales boost of 12 per cent so far this week, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2010 FINANCIAL TIMES SIENNA MILLER CLAIMS REIGNITE HACKING ROW Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE [...]
Factory boost for America’s slow recovery December 15, 2010 BROAD based rises in consumer prices and manufacturing were warmly received in the US yesterday, following the Federal Reserve’s final meeting of the year on Tuesday. Positive industrial production figures offer hope for the American economy as it stutters towards recovery. Overall production rose 0.4 per cent in November, despite a huge drop in automobile [...]
DTZ narrows losses to £6m December 15, 2010 REAL estate consultant DTZ said yesterday its first half loss narrowed on a strong performance in Asia, as it retained a cautious outlook due to market uncertainty in the UK and Europe. The company yesterday posted a pre-tax loss of £6m for the six months to 31 October, compared to a loss of £20.6m in [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]