Banks drop but FTSE treads water ahead of Fed decision June 22, 2011 BRITAIN’S top share index closed marginally lower yesterday, as weakness in banks offset gains in defensive stocks with investors jostling positions ahead of a US interest rate decision. London’s blue chip index bobbed around but closed down 2.32 points at 5,772.99, as cautious investors awaited the Federal Reserve’s assessment of the economy and any plans [...]
Banks and commodities fall as Greek debt crisis lingers June 20, 2011 BANKS and commodity stocksdragged Britain’s top index lower yesterday, as Greece’s lingering debt crisis looks likely to stall the FTSE’s progress near-term, analysts said. Investors reacted negatively after European finance ministers postponed a final decision on extending a further €12bn in emergency loans to Greece. The International Monetary Fund weighed in, saying it needed to [...]
CITY VIEWS: WILL EASYJET’S MOVE HELP TO EASE RUNWAY CAPACITY PROBLEMS? June 16, 2011 SEAN SMITH | AXA “No, Southend is too far from London, there isn’t very good rail linking and it is pretty hard to travel to from central London. I don’t think people would want to travel that far.” MICHAEL KING | JR CLARE “Yes, it’s not like it could make it any worse. It would [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 14, 2011 FINANCIAL TIMES RBS TAKES CONTROL OF 42 MARRIOTT HOTELS Royal Bank of Scotland has taken control of a £1bn property portfolio of Marriott hotels after failing to secure a debt-for-equity restructuring of one of its largest individual real estate loans made during the property boom. RBS on Tuesday night appointed Ernst & Young as receivers to [...]
CITY VIEWS: SHOULD THERE BE AN AGE LIMIT ON COMPANY EXECS? June 14, 2011 MATT CLAY | LLOYD’S OF LONDON “I think it should be down to capability rather than age. They have to review the candidate within all aspects including capability and experience, every individual is different. It is not right to have an age limit because it might not be applicable to some people.” RICHARD HUGHES | [...]
Virgin Money recruits an old hand as chair June 14, 2011 JONATHAN Agnew, the former chairman of Nationwide Building Society, is set to become the new chairman of Virgin Money, as soon as his appointment is approved by the FSA. Agnew (pictured) will take over the leadership of a company that has been without a figurehead for the last year since the death of its chief executive [...]
CITY MOVES | WHO’S SWITCHING JOBS June 14, 2011 Lloyds TSB Lloyds TSB Commercial Finance has appointed Gary Lapthorn as marketing and external affairs director. In his new role, Lapthorn will lead the asset-based finance division’s marketing team to help businesses access appropriate finance. Lapthorn, who has been at Lloyds Banking Group for a number of years, joins from the bank’s commercial division, where [...]
CITY MOVES | WHO’S SWITCHING JOBS June 13, 2011 HSBC Alternative Investments The division responsible for hedge funds, private equity and real estate offerings across the HSBC group has appointed Simon Jennings as managing director, head of private equity. Jennings has more than 22 years of private equity investment experience. Most recently, he co-founded and ran the private equity business at UBS Wealth Management, [...]
London defies UK slowdown June 12, 2011 LONDON was the only British region to experience an accelerated growth in May, according to a Lloyds TSB and Markit study released today. A purchasing managers’ index (PMI) for the capital moved up to 54, from 53.7 in April. All figures over 50 indicate growth. The figures largely reflect a slowdown in growth across the [...]
CITY MOVES | WHO’S SWITCHING JOBS June 9, 2011 Barclays Wealth Calum Brewster has been appointed as a director within Barclays Wealth’s wealth management and private banking business, based in Glasgow. Brewster will join on 21 June from Lloyds Banking Group, where he is head of customer experience and strategy in the life pensions and investment division, responsible for a team of 150 staff. [...]