Standard Life buys tech firm Focus Solutions for £42m December 7, 2010 SAVINGS and investments giant Standard Life yesterday agreed a £42m cash offer for software provider Focus Solutions, its third technology-focused acquisition in 18 months. The deal is equivalent to 140p per share, about a ten per cent premium on Monday’s closing price of 127.5p and relies on Standard Life acquiring 100 per cent of Focus’ [...]
An Alpine refuge from the Eurozone storms December 7, 2010 FOR centuries, Switzerland has been perceived as one of the safest places to store your wealth. Not only does it have a long legacy of a discreet private banking system it has also been successful at keeping inflation under control, promoting economic growth and keeping its fiscal books in order. Consequently, the Swiss franc does [...]
CITY MOVES | WHO’S SWITCHING JOBS December 7, 2010 Aviva Investors Aviva Investors has appointed a new client portfolio manager for fixed income, Raphaelle Moysan (pictured). She will be responsible for liaising with potential clients with a focus on fixed income and absolute return. She will be based in London and report to Anne-Sophie Girault, while also working with the fixed income teams globally. [...]
Bet on black: Oil prices discover fresh energy December 6, 2010 FOR a commodity used to grabbing the headlines, crude oil has been overshadowed by its cousins for much of 2010. Unlike copper, coffee or cotton, which have climbed steeply, oil remained entrenched in its trading range between $70 and $85 a barrel. Not any longer. Cold weather sweeping across Europe, strong energy demand from emerging [...]
Europe set to clamp down on dark pools December 6, 2010 TOP investment banks which offer their clients “dark pool” share trading platforms are facing an uphill battle to keep these trading venues outside the mainstream of market regulation. European regulators are set to publish a consultation paper tomorrow proposing controversial new rules to restrict the activities of the banks’ dark pools, which anonymously match large [...]
CFD NEWS December 6, 2010 BARCLAYS LAUNCHES IPHONE APP Barclays Stockbrokers launched a free iPhone application for its contracts for difference (CFD) clients yesterday. In addition to the standard features common across most iPhone trading applications, Barclays Stockbrokers are offering account holders the ability to view their trading history, multiple watch lists and real time updates on their account’s profit [...]
CITY MOVES | WHO’S SWITCHING JOBS December 6, 2010 RBC Wealth Management Royal Bank of Canada Wealth Management has announced the addition of two directors to its UK-based private clients team led by Philip Harris. Joanne Pickles (pictured) joins the firm from Barclays Wealth, where she has worked since 1999. Ross Jennings also comes from a wealth management background, having worked at Barclays Wealth [...]
Investment banking salaries up 20 per cent December 3, 2010 THE average basic salary for investment banking staff in the City has risen by 20 per cent over the last year, a survey by financial services recruitment company Astbury Marsden said on Friday. As political pressure mounts on City firms to curb their end-of-year bonus packages, many companies have sought to offset this by increasing [...]
ECB keeps liquidity flowing December 2, 2010 EUROPEAN Central Bank (ECB) president Jean-Claude Trichet emerged victorious from his skirmish with markets yesterday, as stocks stabilised and the euro gained on the back of ECB announcements. The ECB announced that it would continue its special liquidity programme that are keeping Europe’s banks out of default. However, the Bank dashed hopes that it would [...]
Mouchel calls in Deloitte as austerity bites December 2, 2010 MOUCHEL yesterday confirmed Deloitte has been drafted in to examine how far the firm’s future income could drop, sparking fears it could follow Connaught and Rok into administration. The engineering consulting and design group has been rocked by swingeing cuts in government spending, resulting in the haemorrhaging of contract income. Deloitte was called in by [...]