Odey sets up private client weath fund October 10, 2010 LEADING City fund manager, Crispin Odey, has launched a new wealth management business aimed at private clients. Odey Wealth Management will charge clients a flat fee of one per cent and it has hired Tim Bond, a former managing director of Barclays Capital and Peter Martin a former managing director of Rothschilds. Odey, the investment [...]
Barclays dips as Abu Dhabi investor sells shares October 8, 2010 One of the Middle East investors who pumped billions of pounds into Barclays has effectively sold a chunk of shares in the bank, sending its shares lower. Abu Dhabi’s exercised £131.6m warrants in the bank, equivalent to a 1.1 per cent stake, and simultaneously entered into a complex hedging arrangement with Nomura, it said in [...]
Footie tycoon hedges stake in Barclays October 7, 2010 THE BILLIONAIRE owner of Manchester City football club has moved to hedge himself against a drop in Barclays’ share price, investment bank Nomura confirmed last night. Sheikh Mansour bin Zayed al Nahyan has done a deal with Nomura to protect the value of his entire £2.4bn stake, amounting to 6.2 per cent of total Barclays [...]
Over a million riders have used Mayor Boris’ bikes October 7, 2010 LONDON Mayor Boris Johnson’s flagship cycle hire scheme passed the million journey milestone yesterday – ten weeks after its launch. More than 90,000 people have signed up as members, with around 20,000 journeys being made every weekday, with the average journey made under 30 minutes. Johnson said: “A million thank yous go to Londoners for [...]
PERSONAL FINANCE NEWS October 7, 2010 CONSUMERS PAYING OFF CARDS FASTER Data from the British Bankers’ Association shows that the number of credit card purchases has been on the rise over the last year. While there were 158m purchases on cards in August 2009, July 2010 saw 169m and in August this year consumers upped the number of purchases to 173m. [...]
Henry: Self-made millionaire who brought Red Sox glory October 6, 2010 PROSPECTIVE Liverpool owner John W Henry knows what it takes to revive the dwindling fortunes of a world famous sporting name, having done as much with Boston Red Sox. Henry, 61, and his holding company New England Sports Ventures took control of the baseball franchise in 2002 and by 2004 had ended their 84-year wait [...]
CITY GYM LAUNCHES FAT BANKER CHALLENGE October 6, 2010 HOT ON the heels of last week’s much-lauded “Best Dressed Banker” award, and The Capitalist’s own rundown of the top ten hunkiest gents and loveliest ladies in the City, published in the summer, comes another, err, extra-curricular competition for London’s financiers. Matt Roberts, personal trainer to the stars, is on a mission to help the [...]
FTSE rises on stimulus expectation October 6, 2010 BRITAIN’S top share index closed higher, at a fresh five month peak yesterday led by miners and energy issues as commodities rose on optimism governments will act to stimulate economies around the world. At the close, the FTSE 100 was up 45.63 points, or 0.8 per cent at 5,681.39, its highest close since 26 April. [...]
BEST OF THE BROKERS October 6, 2010 NORTHERN FOODS JP Morgan Cazenove has moved its rating on Northern Foods back to “underweight” with a new downgraded price target of 40p. The broker says the food manufacturer’s growth and profitability are dependant upon its relationship with UK food retailers and its ability to control its costs. The broker says Northern is likely to [...]
PETTIGREW CALLS ALL ABOARD FOR STEAM RIDE October 5, 2010 IT was all aboard at Tower Pier last night as City bigwig Jim Pettigrew added an unusual venture to his impressive CV, which includes stints at Marks and Spencer, CMC Markets, Icap and, in his current role, Aberdeen Investment Managers. Pettigrew played host as fellow City figures arrived to experience his latest venture: the relaunch [...]