FSA under fire over its hiring rules October 15, 2009 CRITICISM continued to mount yesterday over plans by the Financial Services Authority (FSA) to vet senior appointments in the Square Mile, with one law firm calling it “a considerable expansion of its powers”. Reynolds Porter Chamberlain (RPC) said the FSA made the proposals without any consultation. A letter to 5,000 institutions, sent out earlier this [...]
Energy pushes the Dow to 2009 highs October 15, 2009 The Dow industrials and the S&P 500 climbed yesterday to 2009 closing highs, buoyed by energy stocks as oil prices jumped, but financials retreated as investors panned results from Goldman Sachs and Citigroup. The Nasdaq eked out a slim gain, but shares of big-cap tech companies, including Apple and Google, dragged. Google lost 1 per [...]
SKY SONGS LAUNCHES October 11, 2009 BSkyB is set to launch Sky Songs, a digital music service it hopes will challenge Apple’s iTunes and Spotify. BSkyB, headed by Jeremy Darroch, (above) said yesterday the service, which will go live on 19 October, offers users unlimited streaming, plus download-to-own tracks and albums from £6.49 a month. Music from all four major music [...]
Hotel Arts October 11, 2009 THIS 44-floor skyscraper hotel was built for the 1992 Olympics in Barcelona, but wasn’t finished in time. Nevertheless, it soon became a symbol of the city’s early Nineties lifestyle renaissance and remains one of Europe’s largest paeans to avante-garde contemporary luxury, despite being owned by the Ritz Carlton group. It’s all hustle and bustle in [...]
Amazon’s Kindle could annoy the publishing trade October 8, 2009 AT last, Amazon’s much-hyped Kindle is upon us, with a Europe-wide release date scheduled for 19 October. For anyone who doubts just how big e-books are going to be, consider this: the Kindle version of Dan Brown’s latest book, The Lost Symbol, is outselling the hardcover edition on Amazon. Earlier this week, Forrester Research upped [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 8, 2009 FINANCIAL TIMESCME HEAD BACKS DERIVATIVES REFORMA powerful exchange chief has brushed aside concerns in the US and Europe over the regulation of over-the-counter derivatives, in comments likely to bolster support for the proposed reforms. Regulators on both sides of the Atlantic are insisting that most OTC derivatives be shifted onto formal exchanges and processed through [...]
Take yourself out for a lovely dinner alone October 7, 2009 IT’S not just about where you eat, but who you eat with. Nothing says quiet confidence like dining alone. Indeed, Suzanne Pirret, the pin-up chef, wrote a whole book called The Pleasure’s All Mine, about the joys of dining alone. If the thought of sitting at a table for two on your own puts you [...]
Hopes for earnings see Wall Street rise October 6, 2009 WALL Street stocks rose yesterday amid signs the global economy was recovering and optimism that corporate earnings reports will beat expectations. The economic optimism spurred gains in energy and other commodities, lifting shares of oil and resource companies. Shares of Exxon Mobil rose 1.6 per cent to $68.66 and were among the top gainers on [...]
Wolfson says profit hit by iPhone loss October 5, 2009 SHARES in Wolfson Microelectronics fell yesterday after the chipmaker issued a profit warning, blaming its failure to get the contract for the new iPhone for a slump in orders. Wolfson, which makes components for Samsung and Apple products, said that orders for the fourth quarter of 2009 would be worse that expected, and that backlogs [...]
The US is down, but it is far from out September 30, 2009 THERE is nothing better for the soul than a visit to New York. London is the greatest City on earth; but the Big Apple comes a close second. America has suffered even more badly than Britain from the crisis: a greater number of homes have been repossessed, millions have lost their jobs and vast wealth [...]