CITY MOVES | WHO’S SWITCHING JOBS September 1, 2011 Brooks Madonald Funds The fund management arm of Brooks Macdonald Group has appointed Mark Watson as new business development manager. Watson, based in Brooks Macdonald’s London office in Mayfair, will develop relationships with IFAs, discretionary fund managers and other business professionals to promote BMF’s fund proposition. He joins from Zurich Assurance Company, where he worked [...]
Bank bounce offsets mining slump to drag FTSE upward September 1, 2011 A BOUNCE back by banks hauled the UK’s leading share index higher yesterday, with earlier falls reversed in the afternoon after stronger than expected manufacturing data allayed fears over the health of the US economy, ahead of a key jobs report. At the close, the FTSE 100 was up 24.12 points or 0.5 per cent [...]
FTSE down as miners struggle but banks rally September 1, 2011 The FTSE 100 failed to track gains on Wall Street and in Asia overnight as the mining sector pegged the index back. Traders and investors were digesting a raft of economic data from across the globe and assessing whether the economic recovery was gaining traction. Miners were hit by figures from China showing that its [...]
Bregal Capital in exclusive talks with Irish group IFG August 31, 2011 PRIVATE equity firm Bregal Capital entered into exclusive talks with Irish financial services company IFG Group yesterday over a possible €231m (£204m) buyout. Dublin-based IFG said Bregal Capital, which is already a backer of Lloyd’s insurance company Canopius, had proposed making a cash offer of €1.80 for each IFG share and would also pay a [...]
New approaches: network your way to the top in a private members’ club August 31, 2011 THE IVY, SOHO TYPICAL MEMBER: Members are usually already well connected. Duncan Bannatyne, Andrew Lloyd Webber and the BBC’s Mark Thompson have been spotted there recently. STYLE: The management are hell bent on privacy. No cameras or phones. Membership is through recommendation only. EASE OF NETWORKING: Great speaker events give you access to big-name celebrities. EIGHT [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 30, 2011 FINANCIAL TIMES DISPUTE ERUPTS OVER CONTROL OF LIBYA’S $65BN SOVEREIGN FUNG A dispute has erupted over control of Libya’s $65bn (£40bn) sovereign wealth fund, as the national transitional council attempts to maintain stability in the nation. Several NTC members have contested the authority of Mahmoud Badi, who is probing corruption at the Libyan Investment Authority. HONG [...]
Banks rally but City frets over ringfence August 30, 2011 BRITISH banks’ share prices rallied dramatically yesterday as London played catch up with world markets after Monday’s holiday. Analysts said that investors were pricing in the possibility of further quantitative easing due to the Federal Reserve’s September meeting being extended from one to two days. But UK lenders were also helped by a bullish note [...]
Insurers see share bounce after Irene August 30, 2011 HURRICANE Irene sparked a relief rally in UK insurance stocks yesterday after low damage estimates from the storm left insurers less likely to suffer more claims to add to their heavy losses already this year. Lloyd’s insurers saw their shares fall last week as US authorities evacuated New York and warned of huge damage as [...]
David Lloyd investing £2.5m in children’s brand as obesity rises August 29, 2011 LEISURE group David Lloyd plans to invest £2.5m in its children’s arm after rising public concern over the level of obesity among Britain’s young. It said DL Kids will open facilities at David Lloyd Finchley in North London and Beckenham in Kent in December. It will also open its first continental centre in Barcelona in [...]