A week full of stock results: what to watch October 10, 2011 TO say we live in interesting economic times would be an understatement. Confidence is low and money is tight. And retail stocks often show investor nerves more prominently than other markets. But it isn’t all bad news: volatility in the market can serve to make the life of the spread better more exciting. So with [...]
Legal industry shake up is a business opportunity October 9, 2011 THE Legal Services Act has just come into force and it threatens to decimate high street legal firms. For years, in legal seminars across England and Wales, high street lawyers have been crying out against it. The new law hopes to create competition, but many have warned it could squeeze out smaller firms who lack [...]
Jobs data boosts FTSE but US markets falter October 7, 2011 London stocks have closed slightly higher after better-than-expected US jobs figures prompted an afternoon rally, but US markets remain down after fresh downgrades of Spain and Italy. The FTSE 100 index spiked sharply when US figures showed 103,000 new jobs created, and while it gave up most of the gains it still closed up 0.2 [...]
CITY MOVES | WHO’S SWITCHING JOBS October 6, 2011 Signia Wealth Shalini Khemka has been appointed as a managing director to develop the wealth manager’s private equity arm and expand the business overseas. Khemka will continue as CEO and director of The London Entrepreneurial Exchange, which she co-founded in 2010 while working as an investment banker at LDC, the private equity arm of Lloyds [...]
SuperGroup in £9m profit warning hit October 5, 2011 SUPERGROUP yesterday shocked the City by revealing that its full-year profits will be hit by up to £9m after a supply problem at a key warehouse. The company, best known for its Superdry brand, saw its shares dive almost 30 per cent after the announcement. It said there had not been enough stock in its [...]
UK bank rules need to be taken Europe-wide October 5, 2011 SAYING “I wouldn’t start from here” is not a very helpful response to a traveller asking directions, but sometimes it is the best one. It is good news for London that the chancellor managed to force concessions on EU derivatives legislation. He entered the negotiations in Luxembourg outnumbered 26 to 1, but achieved most of [...]
Share price is undervalued, says Diamond October 4, 2011 THEY could not have timed it any better – or should that be any worse? Some of the biggest names in banking came together in London yesterday as industry shares fell over fears politicians are failing to tackle the Eurozone crisis. Bob Diamond, chief executive of Barclays, told the Bank of America Merrill Lynch conference [...]
Land Sec gets planning for St Paul’s build October 4, 2011 LAND Securities, the UK’s biggest commercial landlord, has secured planning consent for a new mixed office and retail development near St Paul’s Cathedral in the City of London. The 250,000 square foot scheme will replace three existing buildings on the corner of Shoe Lane and Little New Street with cafes, restaurants and premium office space [...]
Greek crisis saps market confidence October 3, 2011 Banks were the biggest fallers across Europe on opening this morning after Greece admitted it will not meet 2011-2012 deficit targets imposed by international lenders as part of the country’s bailout. The sector was down 3.7 per cent on the pan-European FTSEurofirst 300 index, illustrating the problem for financial institutions saddled with burden of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 2, 2011 FINANCIAL TIMES BTG GAINS TOP BANKER AS IT EYES EXPANSION Roger Jenkins, the high-profile former Barclays executive, has joined BTG Pactual as a managing partner as Brazil’s largest independent investment bank and asset manager gears up its ambitious expansion plans. Jenkins, a star banker best known for orchestrating a £7bn fundraising for Barclays from Middle [...]