DOLLAR-YEN IS WAKING FROM ITS SLUMBER November 29, 2011 UNTIL recently, the single most boring job in the currency business was to be a dollar-yen dealer. With the exception of a few days when the Bank of Japan (BoJ) would intervene in the markets, spiking dollar-yen by a couple of hundred points in a matter of minutes, the pair would remain moribund, sometimes moving [...]
Consistency marks Donald out as the star of 2011 November 28, 2011 IT’S BEEN an unforgettable year for the sport of golf and one that will last long in the memory. With Europeans occupying the top four spots in the world rankings and two more enjoying success at the Majors, there is certainly plenty to be enthusiastic about heading into 2012 which is, of course, a Ryder [...]
LUKE JOHNSON ENDORSES LAUNCH FOR THE CITY’S BEST-CONNECTED November 28, 2011 ARE YOU fed up with receiving endless invitations to “connect” with people you have never met on digitally promiscuous social networking sites? Then Ndoorse, the new network for high-quality professionals founded by ex-Deloitte strategy consultant Jeremy Weil and JC Rathbone director Kristian Rathbone is perhaps for you. The only problem is that the City-meets-entrepreneurs network, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2011 FINANCIAL TIMES NOMURA STEPS UP ASSET SALE PLANS Nomura has approached big private equity firms about the possible sale of domestic businesses, including its real estate arm, as the Japanese bank moves to shore up its capital buffers. Several people familiar with the preliminary talks with parties including KKR and TPG said the bank was [...]
Fed’s PR plans prompt hopes over more QE November 22, 2011 THE FEDERAL Reserve has discussed how it can improve the communication of its policies to the public, it was revealed last night, stoking rumours that a third phase of the controversial quantitative easing programme (QE3) could be on the way. “A few” of the Fed’s committee believe the economic outlook may be grim enough to [...]
Six American banks face more stress tests over Euro debt crisis November 22, 2011 SIX of America’s biggest banks face a new round of stress tests as the Federal Reserve shows increasing concern over the Eurozone debt crisis. The tests against a possible market shock will take in Bank of America Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo, which all have large trading operations. Yesterday [...]
Political ineptitude is driving euro-dollar November 22, 2011 THE string of announcements yesterday provided a snapshot of the failings of politicians and committees on either side of the Atlantic to come up with any form of solution to their respective debt woes. We saw some short-term euro-dollar moves off the news that the IMF had approved changes to credit line structures designed to [...]
HOLDING NO STOCK IN EURO DELIVERANCE November 21, 2011 INVESTOR sentiment has turned decidedly bearish over the past week. As usual, the primary concern is the slow motion train wreck that is the European debt crisis. This means that Eurozone sovereign bond yields remain in focus, with the spreads of Spanish, Italian and even French debt over German bunds under intense scrutiny. Once again, [...]
THE TIPSTER November 21, 2011 Utility stock Severn Trent reports interim results on Thursday and investors will be hoping to hear that their bumper dividend payout is safe. A typical defensive play, the shares have performed well in 2011 gaining over 7 per cent. With uncertainty continuing, equity investors may well continue to seek the safe haven properties of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 20, 2011 FINANCIAL TIMES CAYMAN DIRECTORS COLLECT FUND JOBS A small group of Cayman Island “jumbo directors” are sitting on the boards of hundreds of hedge funds as demand for independent directors booms in the Caribbean tax haven. A least four individuals hold more than 100 non-executive directorships each, and 14 have more than 70 – each [...]