Morgan Stan is top in global IPO rankings June 30, 2010 MORGAN Stanley has topped the underwriting league for initial public offerings (IPOs) in the first half of the year. A few large deals helped propel the Wall Street bank to first place, up from its number three spot at this time last year. It underwrote 36 deals with estimated proceeds of $5.9bn (£3.9bn) in the [...]
CITY MOVES | WHO’S SWITCHING JOBS June 30, 2010 CFA Institute The Chartered Financial Analysts Institute has appointed Edward Bace as head of education for the EMEA region. He joins the institute from BPP Business School, where he was professor of finance. He has over 20 years’ experience in international finance, and has worked for Lehman Brothers, Standard & Poor’s and the European Bank [...]
US HOUSING MARKET IN NEED OF HELP June 28, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT STOCK indices have been positively correlated to movements in euro-dollar for such a long time that it is easy to forget that this wasn’t always the case. There is growing evidence that this relationship is breaking down – equities are struggling to rally, whether the euro is falling or [...]
Q&A: US FINANCIAL REFORM UNTANGLED June 27, 2010 Q. WHAT ARE THE ROOTS OF THE DODD-FRANK OVERHAUL? A. At the height of the financial crisis in 2008, US investment banks converted into holding companies so they could take emergency loans from the Federal Reserve, as well as taxpayer aid. Most of the capital distributed then has been repaid, but the public and politicians [...]
PERSONAL FINANCE NEWS June 24, 2010 PAY BY CARD TO GAIN REWARDS Savvy shoppers could earn substantial rewards by whacking all their day-to-day spending on the plastic. Based on an average household spend of £386.30 per week on a reward credit card, and by paying off the balance in full each month, Confused.com research shows after just one year, some of [...]
At a glance: All the crucial points from Osborne’s emergency Budget June 22, 2010 THE ECONOMY/PUBLIC FINANCES • The Office for Budget Responsibility (OBR) published fresh forecasts in light of the measures announced yesterday by chancellor George Osborne. • GDP growth will be 1.2 per cent in 2010, accelerating to 2.3 per cent in 2011, 2.8 per cent in 2012 and 2.9 per cent in 2013. The pace of [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
What to look out for in the Budget June 21, 2010 THE ECONOMY/PUBLIC FINANCES • The newly-created interim Office for Budgetary Responsibility (OBR) released forecasts last week for growth and public borrowing. But these were based on the policy decisions of Alistair Darling’s Budget and are likely to change in response to moves made by the new chancellor. • Previously, the OBR said GDP?growth is expected [...]
CITY MOVES | WHO’S SWITCHING JOBS June 21, 2010 Northern Trust The investment manager has appointed John Krieg to its London subsidiary, Northern Trust Global Investments, as managing director for the Europe, Middle East and Africa region. Krieg joins from the group’s HQ in Chicago, where he was head of global investment product management. Prior to joining Northern Trust in 2002, he was director [...]
Osborne wins Square Mile’s quiet approval June 16, 2010 CITY figures cautiously welcomed chancellor George Osborne’s decision to restore financial regulation to the Bank of England last night, but urged him to think carefully about the shift. Osborne said oversight of UK-based high street lenders, investment banks, building societies and insurers would be the responsibility of a new body under the control of the [...]