CITY VIEWS: BARCLAYS WORKERS ARE PROTESTING TOMORROW. DO THESE KINDS OF PROTEST MAKE ANY DIFFERENCE? August 5, 2009 UDAY BAROT FINANCIAL ADMINISTRATOR“No, I don’t think this sort of strategy works. Big banks don’t listen and just do what they want. The smaller voices aren’t heard so protesting, in my opinion, doesn’t make a big difference.” TOLU BABATOLA LEARNING AND DEVELOPMENT PROJECTS CO-ORDINATOR“No, I don’t think protesting makes much difference in such large corporations. [...]
THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
CITY MOVES WHO’S SWITCHING JOBS August 4, 2009 Ernst & YoungErnst & Young is expanding its London and Bermuda business with the promotion of three staff. The insurance practice has admitted Richard Battersby and Jeff Soar as partners and promoted Andy Worth to director. Battersby will become the transactions advisory partner, Soar (pictured) will be providing tax services to Lloyd’s and London market [...]
PENSIONS CRISIS AS DEFICITS SOAR August 4, 2009 FTSE 100 companies are running a combined pension deficit of £96bn, the largest ever recorded, a leading firm of consulting actuaries will reveal today. The collapse in stock markets means that the shortfall is more than twice the £41bn recorded a year ago, Lane Clark & Peacock’s (LCP) will say. The financial crisis has also [...]
Not all banks were given state handouts August 4, 2009 ANOTHER day; another row about banking profits, bonuses and the future of the City. The nationalised Northern Rock’s numbers were poor as expected – but for some reason, the pundits are more concerned with banks that are doing reasonably well. And not any institution: they couldn’t care less about Standard Chartered, a well-managed group which [...]
A SIGH OF RELIEF FOR FUND GURU DUFFIELD August 4, 2009 AFTER months of being down on his luck, perhaps the tide is starting to turn for veteran fund management guru John Duffield and his newest business venture, Brompton Asset Management. Duffield, who also previously set up Jupiter and New Star, originally named the firm Hyde Park Asset Management, before hedge fund marketing firm Hyde Park [...]
Why the triathlon has become the ultimate water-cooler competition August 3, 2009 ON A NORMAL weekend you’re more likely to encounter tumbleweed in Docklands than serious signs of human activity. It might have been a bit of a shock this Sunday, then, to have seen 13,000 people swarming into the water at Royal Victoria docks, climbing out to run 10km and then cycling to Westminster and back. [...]
The pasta is brilliant, but eating at Jamie’s can be a stressful experience August 3, 2009 Jamie’s ItalianUnit 17, 2 Churchill Place, Canary Wharf, E14 5RBTel: 020 3002 5252 Cost per person without wine: £25 THIS is the second of Jamie Oliver’s chain of wallet-friendly eateries to open in London – one opened in Kingston in late 2008, following the first in Oxford – and he couldn’t have chosen a better [...]
CAN BARCLAYS CONTINUE ITS STRONG PERFORMANCE? August 3, 2009 NIC CLARKE CHARLES STANLEY“Barclays has been our most difficult call in the UK banking sector over the last 12 months. Performance in the next 12 months depends not only on whether BarCap can remain as robust as it has been but also importantly on the macro economic strength of the US, UK, Spain and South [...]
BarCap boost sees Barclays profits jump August 3, 2009 BARCLAYS reported an eight per cent increase in first-half pre-tax profit yesterday, as its investment banking arm Barclays Capital (BarCap) extended its first quarter boom. Group profits before tax reached £2.98bn, up from £2.75bn in the first half of 2008, as revenues soared 37 per cent from £11.8bn to £16.25bn. Barclays’ results included impairment charges [...]