FTSE Flat as Greek bailout gets the nod February 21, 2012 THE FTSE 100 was broadly flat this morning as Eurozone leaders agreed a second bailout for Greece after weeks of tortuous negotiations. Investors overall were encouraged by the move but there were still fears that the €130bn lifeline was only a short term fix for Greece which is drowning in debt. The deal was largely [...]
Oil surges on Iranian fears February 20, 2012 OIL prices surged yesterday after a defiant Iran banned sales to Britain and France, amid growing fears over the country’s nuclear ambitions. Brent crude nudged over $121 a barrel – the highest level for eight months – as the International Atomic Energy Agency (IAEA) arrived in Tehran to assess first hand the Islamic Republic’s controversial [...]
Why not to position for a gold crash February 20, 2012 GOLD has traded in a channel for the last month, but despite this, it remains at a price nigh on unimaginable 18 months ago. “Although the last month has been a quiet one for the price of gold, the metal is still up by around 10 per cent for the year and is still almost [...]
Greece’s latest austerity promise isn’t worth the paper it’s printed on February 13, 2012 LONG-TERM investors could be forgiven for putting their hands over their ears at the mere mention of the Eurozone – at the very least it will better assure their continued sanity. But traders are cut from a different cloth and see opportunities in volatility. Despite the relief following the latest agreement for the Greek government [...]
CITY MOVES | WHO’S SWITCHING JOBS February 12, 2012 The Salamanca Group Jeremy Wrathall has been appointed as managing director of Salamanca Resources, the recently formed division of the group that will focus on the metals and mining sector. He joins Salamanca from Renaissance Capital, where he was head of investment banking for the firm’s London operation and had responsibility for metals and mining, [...]
CITY MOVES | WHO’S SWITCHING JOBS February 9, 2012 ICAEW Arthur Bailey has been elected as the next vice-president of the Institute of Chartered Accountants in England and Wales (ICAEW). Bailey, who will take office on 13 June, has served on ICAEW’s council for 14 years, including three years as chairman of the audit committee, and is a member of the board. He is [...]
China’s fate tangled with Eurozone February 6, 2012 AS CHINA’S economic power grows, its authorities are increasingly willing to punch their weight on the international stage. The decision to direct Chinese airlines to ignore the European Union’s carbon-emissions system is a slap in the face. But can China really afford to be sanguine? The latest report from the International Monetary Fund (IMF) suggests [...]
Webster to step down as IHG chairman February 5, 2012 DAVID Webster, the long-standing chairman of Intercontinental Hotels Group, is to stand down after eight years at the helm of the world’s largest hotel group. A source close to Webster said that no date had been set yet for his departure, but that he is likely to leave later this year. The owner of Holiday [...]
All3Media sets hunt for new chief in motion February 5, 2012 PRIVATE equity firm Permira is on the lookout for a new chief executive for All3Media, in which it owns a majority stake, as current head Steve Morrison, 64, prepares to step down. A headhunter has been brought in as it is thought likely that the new chief executive will be an external candidate. All3Media, the [...]
Buyout houses circle Iceland February 1, 2012 Two buyout houses have placed bids for frozen food retailer Iceland Foods, people familiar with the matter said yesterday, in an auction that the vendors hope will value the business at around £1.5bn. The bids from BC Partners and Bain Capital are “aggressive” the people said, although they did not indicate whether supermarket chain Wm [...]