FTSE down amid Eurozone gloom May 23, 2012 Miners led the FTSE down in early trading as a two-session rally hit the buffers. Fears that Eurozone leaders have lost control of the bloc’s fast unravelling finances sapped investor confidence. A summit in Brussels today will thrash out possible ways to tackle the latest phase of the crisis including France’s idea for the issuing [...]
FTSE rises fuelled by miners May 22, 2012 The FTSE 100 picked up again this morning as some of last week’s losses were recouped. Hopes that Eurozone leaders were making progress as they tackled the debt mountain engulfing the bloc helped sentiment. One of the ideas to save struggling economies is to issue eurobonds. But an OECD report warned that the fragile global [...]
Bank rally helps steady FTSE May 21, 2012 The FTSE 100 was solid this morning despite the storm clouds – created by the Eurozone crisis – still hanging over markets. Over the weekend G8 leaders stressed their “imperative” was to promote growth and jobs and gave verbal backing for Greece to stay in the euro. But despite calls from the United States for [...]
Manduca in line for chairman’s role at the Pru May 20, 2012 PAUL MANDUCA, one of the City’s best-known fund managers, is set to become the new chairman of Prudential, putting an end to a five-month search for Harvey McGrath’s successor. Manduca, 60, joined the board of Prudential, the UK’s biggest life assurer, as a senior independent director in October 2010 and has been overseeing the search [...]
Broadgate tycoon to make bid for Battersea power station May 20, 2012 GODFREY Bradman, the property tycoon who built the Broadgate Circle in the City in the 1980s, is preparing to make a comeback with a bid for Battersea power station. Bradman is thought to have teamed up with Derrick Beare, nephew of South African financier Jonathan, and has secured the backing of billionaire Reuben brothers David [...]
FTSE drained by Spain and greece woes May 18, 2012 THE FTSE 100 tracked losses across Europe this morning as fast moving events in Greece and Spain drained investor confidence. Moody’s downgraded Spanish banks overnight and Fitch cut its debt rating for Greece as the Eurozone crisis deepened. Spain has lurched into recession and its borrowing costs jumped at an auction yesterday while its banks [...]
Higher premiums help insurer Amlin recover from catastrophe May 17, 2012 LLOYD’S of London insurer Amlin yesterday said it is on course to return to profit, helped by price increases and an absence of substantial claims during the first four months of the year. “The trading environment continues to improve, with more than 75 per cent of our portfolio achieving rate increases in the period to [...]
FTSE falls as fear stalks markets May 16, 2012 Commodity stocks took a hammering this morning as investors ran for cover with the prospect of fresh Greek elections adding to the uncertainty stalking markets. The prospect of Greece exiting the Eurozone were mounting as the country struggles to avoid economic meltdown. But in positive UK news official figures showed a drop in the unemployment [...]
WHO’S SWITCHING JOBS May 15, 2012 Bank of Ireland Adrian Olsen has been appointed as Bank of Ireland’s new head of business banking in the UK. He has been with the bank for 12 years as a managing director and head of global project finance for its UK corporate banking division. Olsen has also previously held senior positions at Dresdner Kleinwort [...]
CITY MOVES WHO’S SWITCHING JOBS May 14, 2012 Grant Thornton The professional services firm has appointed Andy Morgan as a partner in its London corporate finance team. Morgan is a technology expert and has over 17 years’ experience in mid-market mergers and acquisitions. He joins from PwC, where he led its UK technology, media and communications sector team. Mazars John McMahon has been [...]