FTSE 100 down on global growth concerns November 16, 2012 The blue chip index edged down in early deals as investors fretted over US fiscal cliff concerns and Eurozone growth. Buyout group Melrose was the biggest faller on the leading share index, shedding 13.69 per cent as it said it was facing slowing revenue trends. Utility firm Pennon firm 2.55 per cent, while steelmaker Evraz [...]
Amlin shrugs off Sandy and unveils increase in premiums November 15, 2012 LLOYD’S of London insurer Amlin yesterday said it is “well placed to absorb claims” from Hurricane Sandy thanks to a strong performance in the first nine months of the year. Total insured losses from the storm, which devastated the east coast of the US last month, have been estimated at around $20bn. Amlin, the second-biggest [...]
JLT signs largest letting of the year November 15, 2012 Jardine Lloyd Thompson (JLT) is to move its headquarters to The St Botolph Building in the City, sealing London’s largest letting deal this year. The insurer said yesterday it has signed a 25 year lease with Minerva – owned by Delancey and AREA Property Partners – for 287,000 square feet, at a rent of about [...]
Star Londoners make partner in Goldman promotion round November 14, 2012 SEVENTY Goldman staff were promoted to partner yesterday, and will take on the prestigious title – and a share of the bank’s profits – in the new year. The round was smaller than the 110 seen in the last round in 2010 as the bank downsizes. Twenty of the new partners are from Europe, Middle [...]
Sandy casts a shadow over Catlin growth November 12, 2012 LLOYD’S of London insurer Catlin yesterday revealed that its New York office remains closed following Hurricane Sandy – and it does not know how much it will have to pay out to those affected by the storm. The firm said it would be some time before the true cost of the damage is assessed due to [...]
Who’s switching jobs November 12, 2012 KNG Securities The fixed income product provider has appointed Andrea Podesta as managing partner and head of fixed income. He joins from Bank of America Merrill Lynch, where he was managing director and head of southern Europe fixed income sales. BNY Mellon The financial services firm has appointed Alan Cottam as regional business head for [...]
Bonuses slashed again as City of London set for collapse to third place in financial league table November 12, 2012 THE UPCOMING bonus season is set to be the worst in over a decade, according to figures out today – with City payouts set to collapse even further in the next five years. London has also now fallen behind New York and is about to be overtaken by Hong Kong in terms of the number [...]
London business activity dives as growth dwindles November 12, 2012 THE UK looks set to crash back into contraction in the fourth quarter, as data out today reveals a fall in business activity in London and across the country. The collapse in London is especially worrying – it dived on the Lloyds purchasing managers’ index (PMI) business survey from 52.1 to 49.1 – a 42-month [...]
City Moves | Who’s switching jobs November 11, 2012 Old Burlington Investments Lawrence Hannah has been appointed business development manager at the investment firm. He joins from Caerus Wealth Management, where he was responsible for building its alternative tax products business. Hannah has also worked at Merrill Lynch. NYSE Euronext Demetria O’Sullivan has been appointed chief risk officer at the exchange’s new derivatives clearing [...]
FTSE 100 down as investor sentiment drops November 9, 2012 The leading share index was down this morning, consolidating overnight losses in Asia and the US. Miners led the fallers in early trading, with Eurasian Natural Resources, Kazakhmys and Anglo American among the blue chips feeling the heat. On the FTSE All-Share, Finnish miner Talvivaara slid more than nine per cent in early deals. Yesterday [...]