CITY MOVES | WHO’S SWITCHING JOBS July 18, 2010 Artemis Investment Management The fund management group has hired Giles Parkinson as a new investment analyst, tasked with supporting William Littlewood in managing the £567m Artemis Strategic Assets Fund, launched by the firm just over a year ago. Parkinson joins from Newton Investment Management, where he has been a research analyst for the past four [...]
Obama’s reforms at a glance July 15, 2010 SYSTEMIC RISK A council of regulators chaired by the secretary of the Treasury would be created to monitor big-picture risks in the financial system. The Financial Stability Oversight Council could identify firms that threaten stability and subject them to tighter oversight by the Federal Reserve. The Fed and the council could break up firms that [...]
Some good bits – but lots of bad stuff July 15, 2010 SO there you are: President Obama has finally got his Wall Street reform bill, a gargantuan, 2,315-page piece of legislation over which politicians and lawyers will argue for years. As we explain on page 1 and below, there is a huge amount of detail in the final version, with rules governing everything from investment banks [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 12, 2010 FINANCIAL TIMES RIO CLASHEs OVER THE RIGHTS TO MONGOLIAN COPPER MINE Tensions are rising between Rio Tinto and Canada’s Ivanhoe Mines over rights to a world-class copper deposit in Mongolia as the multinational mining group releases hundreds of millions of dollars to develop the mine over which it has limited control. Ivanhoe, which owns the [...]
Standard Life overhaul sees investor relations boss leave July 12, 2010 STANDARD Life’s head of investor relations has left the company after a shake-up of the insurer’s operations led to his position being axed. Gordon Aitken, a former sell-side analyst with JPMorgan and Credit Suisse First Boston, departed a fortnight ago. Under the terms of a group-wide review ordered by chief executive David Nish, Aitken will [...]
High electricity prices to hurt growth July 11, 2010 HERE is another reason why the recovery will be muted. Gas and electricity costs will rise substantially in the years ahead and are set to hammer not only consumers but also manufacturers, further eroding their competitiveness and that of Britain as a place to do business. It is not market forces that will push up [...]
PERSONAL FINANCE NEWS July 8, 2010 MILLIONAIRE PROPERTIES ARE BACK According to new research from Santander Mortgages, Britain has seen a 393 per cent increase in the number of property millionaires since 2000. While 43,000 homes lost their value to take them under the £1m mark during the credit crunch, the numbers have risen again to nearly 147,000, the level they [...]
INSURANCE July 8, 2010 Q. What are the basic kinds of insurance required of a small business? A.Business insurance requirements depend on the firm’s type, but at the bare minimum you will require public liability insurance, business motor insurance and liability insurance for any employees. While public liability insurance isn’t necessarily legally mandated, most serious businesses cover themselves for [...]
London is losing out from EU diktats July 7, 2010 SO there you are. The European Parliament has just voted to locate the planned new EU agencies to regulate banks, markets and insurers in Frankfurt, in a massive blow to London. This provision may yet be eliminated from the final directive but is an ominous sign. What won’t change are the new rules on bonuses: [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 7, 2010 FINANCIAL TIMES ENERGY-FOCUSED HEDGE FUNDS FEEL HEAT OF MARKET VOLATILITY Hedge funds focused on energy markets have suffered a rocky start to the year, hit by volatile commodity prices and the Gulf of Mexico oil spill disaster. Many funds have been left nursing double-digit percentage losses over the first six months of the year. The [...]