HSBC warns over UK banking exodus September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
CITY MOVES | WHO’S SWITCHING JOBS September 2, 2010 Signia Wealth The wealth manager has hired Mark Elliott as managing director. Elliott is joining the family-run firm from Barclays Wealth, where he established the financial institutions group and professional practices business in 2007. Before this he worked for private bank Coutts as group head for the executive team and as group head for the [...]
Pack a tax plan if you want a retirement on the beach September 2, 2010 IF YOU are tempted to spend your golden years in the sun and escape overcrowded, polluted London, you are not alone. Emigration from the UK reached a record high in 2008 and that was before the introduction of a 50 per cent higher tax rate and the impending austerity measures. But planning is essential if [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 1, 2010 FINANCIAL TIMES MEAT PRICE SURGE FUELS FEARS OF FOOD INFLATION Global meat prices have hit a 20-year high as robust demand from emerging countries has coincided with a drop in production by exporters such as the US and Australia, fuelling concerns about rising food inflation. The UN Food and Agriculture Organisation’s index of meat prices [...]
MARKETING CAMPAIGN OF THE YEAR | September 1, 2010 MORE than ever, in this competitive world, it’s all about brand-building at the moment. Our shortlist have all carved out a niche for themselves in the past 12 months, whether it was negotiating a name-change, capitalising on a long history or launching products that will define the future. These firms know how to sell, sell, [...]
CITY MOVES | WHO’S SWITCHING JOBS September 1, 2010 Baker & McKenzie The London office of Baker & McKenzie has expanded its financial services and regulatory practice with the hire of partner Ian Mason, who started at the firm yesterday. Mason, who joins from Barlow Lyde & Gilbert, previously worked in the FSA’s enforcement division as head of the wholesale group. He joins a [...]
LISTED PRODUCT NEWS September 1, 2010 MEDIA FARING WELL IN ETF LANDSCAPE Investors are ditching food and beverage sector ETFs, instead favouring media stocks, according to the latest ETF landscape survey from BlackRock. It shows that net outflows are now more than $220m year-to-date. The food and beverage sector came out faring worst with net outflows of $163.4m, followed closely by [...]
JPMorgan Cazenove stays at top of broking league table August 31, 2010 FEARS Cazenove would bleed clients after JPMorgan bought out the remainder of the firm were demolished as it stayed at the top of the broking league table yesterday. JPMorgan Cazenove won nine clients in the past three months, according to data provider Hemscott, putting it in pole position with 253 contracts. The blue-blooded institution stole [...]
Buck gets cold-shoulder August 31, 2010 THE dollar is at a cross roads. At the peak of the financial crisis it was firmly in the set of “safe haven” currencies and was bought in favour of the euro, the pound and most emerging market currencies. However, as threats of a double-dip recession grip the markets, the greenback has been given the [...]
Firms’ sanctions compliance must be tightened up August 31, 2010 FINANCIAL regulation reform is all the rage. Last week, President Nicolas Sarkozy unveiled his programme of “action and ambition” for France’s forthcoming presidency of the G20. It puts global reform of financial markets and systems at the very top of the agenda. The US has already passed sweeping reform legislation and the coalition government has [...]