WHAT THE OTHER PAPERS SAY THIS MORNING June 18, 2012 FINANCIAL TIMES Sants: City’s status under threat London’s position as a global financial centre is under threat because the UK financial sector is not rethinking its business models quickly enough in the face of a new political atmosphere and regulatory change, says Hector Sants, the departing chief executive of the FSA. Sants warned that banks, [...]
BRICS agree to add money to IMF’s firewall June 18, 2012 THE FIVE BRICS emerging economies have agreed to contribute to the International Monetary Fund and to explore currency swaps as part of efforts to promote global stability. Leaders of developing world powers Brazil, Russia, India, China and South Africa met on the margins of the G20 summit in Los Cabos, Mexico, and “agreed to enhance [...]
The Brics start to look wobbly as emerging market growth slows June 17, 2012 AS INDIA looks set to lose its investment grade rating, are the Bric nations starting to tumble? The last ten years have seen investors flocking to the vaunted opportunities available in the markets of the Bric grouping of Brazil, Russia, India and China. Over that time, Bric indices have almost quadrupled their gains and their [...]
Is it time for investors to return their focus to the West? June 17, 2012 YES KULLY SAMRA In the aftermath of the financial crisis there is no doubt that Bric countries became a popular choice to diversify investment portfolios. However, the shockwaves from the deepening Eurozone crisis has led some emerging markets stock indices to experience sharp falls since the beginning of March, whereas US markets have remained more [...]
Start your weekend with a bang this Thursday evening at 6pm June 17, 2012 How do you celebrate something as multifaceted as the City of London? It is a place of contradictions: both a glass-fronted metropolis and a cluster of stone relics, stubborn and robust. It throngs with people of all nationalities and hums with activity that is at once local and global. Crammed into a single square mile [...]
Russia set to fight sanction June 14, 2012 RUSSIA’S Football Union is determined to fight the punishment of European football’s governing body Uefa as a result of their fan’s behaviour, believing it to be “severe”. The presence of far-right banners and the use of fireworks by Russian fans in their 4-1 victory over Czech Republic prompted Uefa to give Russia a suspended six-point [...]
CITY MOVES | WHO’S SWITCHING JOBS June 14, 2012 iCon Infrastructure Iain Macleod has been appointed as a partner at the investment firm, effective July 2012. He joins iCon’s private institutional European infrastructure team from Deutsche Bank, where he served as head of transportation and infrastructure for Europe, Middle East and Africa, and head of mergers and acquisitions for Asia. International Standard Asset Management [...]
Both Spain and Cyprus see their ratings slashed June 13, 2012 STRUGGLING Eurozone members Spain and Cyprus both saw their credit ratings slashed last night as Moody’s warned that they had been effectively shut out of international markets. Spain’s government bond rating was cut to just one notch above junk status – to Baa3 from A3 – with Moody’s saying its banking bailout would take years [...]
IMF predicts strong Russian growth June 13, 2012 Russia’s GDP will grow by four per cent this year and next year, the International Monetary Fund (IMF) said yesterday. “High oil prices, strong wage growth, and robust consumption have supported demand,” said the report. “Meanwhile, the unemployment rate has fallen below six per cent and capacity utilisation in manufacturing has risen to its pre-crisis [...]
Russia in frame for Cyprus rescue June 12, 2012 Cyprus is keeping its options open on whether to apply for a European Union bailout to help recapitalise its second-largest bank but has yet to make any application, its government said yesterday. Russia was yesterday put in the frame as the source of a possible bilateral bailout for the country. Sigma, a private TV station, [...]