FAIRFAX CO-FOUNDER CRAWFORD ON THE HUNT FOR A NEW INVESTOR July 19, 2010 IS A changing of the guard in the offing down at boutique investment bank Fairfax? I hear that Rolly Crawford, who co-founded the firm back in 2006, is on the lookout for a new major investor to take Fairfax forward in its ambitions. A number of interested parties have already been sounded out about the [...]
West End falls behind rest of capital July 18, 2010 LONDON’S West End has seen an upsurge in high-end purchases, though shops in the area have bounced back at a slower rate than the rest of the capital. June sales in the West End shops rose 10 per cent on last year, compared to a 14.4 per cent rise in London and a 1.2 per [...]
Former LTCM trader surfaces at London-based hedge fund July 12, 2010 ONE of the survivors of Long-Term Capital Management (LTCM), the US hedge fund infamously bailed out by Wall Street in the late 1990s, has resurfaced at London-based Capula Investment Management. Ayman Hindy became a partner at Capula last week, according to a regulatory filing. He has been working at the government fixed income specialist for [...]
BUSINESS IS BOOMING FOR TABLE DANCE KING July 6, 2010 TABLE-dancing mogul Stephen Less may have made his fortune building up Secrets, London’s largest chain of lap dancing clubs, but he’s certainly no one-trick pony. I hear Less has been a rather busy man of late, broadening his horizons to include no less than four satellite business interests. The first – and most austere – [...]
FSA fines ex Sibir chief for market abuse July 6, 2010 A DAMAGING corporate ruse was finally rumbled yesterday after the City regulator slapped a £350,000 fine on Henry Cameron, the former chief executive of oil company Sibir Energy. Last year, Sibir was embroiled in controversy over debts owed to the company by Russian tycoon Chalva Tchigirinski, one of its major shareholders. Sibir informed the market [...]
Law giants hit by M&A drought July 5, 2010 ■ Linklaters’ revenues down by 8.8 per cent ■ Allen & Overy’s revenues contract by 4 per cent ■ Clifford Chance is set to reveal a 5 per cent sales drop THE UK’s largest law firms have suffered a blow from a two-year M&A drought that has forced them to look beyond Britain’s shores for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 4, 2010 FINANCIAL TIMES UK GOVERNMENT BOND MARKET STRONG, SAYS DMO The UK government bond market has been one of the best performing of the year because the country is safely outside the troubled eurozone and has its own currency, according to Robert Stheeman, chief executive of the Debt Management Office. He points out that gilts have [...]
Ukraine is set to receive a $15bn IMF stability grant July 4, 2010 THE International Monetary Fund (IMF) is set to grant Ukraine $14.9bn (£12.3bn) to stabilise its ailing economy. The “preliminary co-operation agreement” is good news for president Viktor Yanukovich, but is only offered on the basis his coalition government delivers upopular economic reforms, such as increasing the price of natural gas. Final approval would not be [...]
Like football, financial services is truly global July 4, 2010 THE ENGLISH team may be out of the 2010 World Cup in South Africa, but there is no question that, when it comes to finance, we are in the premier league. However we cannot ignore the fact that our rapidly developing counterparts are becoming more important on the global stage and challenging Europe’s competitiveness. That [...]
Williams serves up record ace tally in battling victory July 1, 2010 DEFENDING champion Serena Williams is hoping to find an extra gear for her sixth Wimbledon final after being pushed hard in yesterday’s last-four tussle with Czech upstart Petra Kvitova. After being broken for the first time in this year’s tournament, Williams drew on her considerable battling qualities to force a tie-break that proved to be [...]