THE WEEK AHEAD in association with GFT July 31, 2011 COMPANY NEWS ● It’s a busy week for results. Today, Hiscox, HSBC, Intertek and Ultra Electronics Holdings announce. ● Barclays, Capital Shopping Centres, Cookson, Drax, Fresnillo, GKN, Meggitt, Millennium & Copthorne Hotels, Rotork, Weir and Xstrata all announce tomorrow. ● Announcing on Wednesday are Capital & Counties Properties, Ferrexpo, Legal & General, Rexam, Rightmove, Standard [...]
High-speed changes to FX trading July 27, 2011 ELECTRONIC trading is not a new development. Nasdaq, the first electronic exchange, is more than 40 years old. But advancing technology has slashed latency. On the NYSE, 10 years ago an order took 20 seconds to execute a trade, now it takes one. “High-frequency trading (HFT) is a natural result of the technological developments we [...]
Carlyle looks to sell stake in RAC July 24, 2011 US private equity firm Carlyle Group is looking to sell part of its equity in RAC, the roadside rescue business it bought from Aviva for £1bn a month ago. The firm is looking to sell up to £200m of equity in RAC. GIC, the Singaporean sovereign wealth fund, is understood to be one of the [...]
FTSE gains fuelled by Eurozone deal July 22, 2011 The FTSE 100 tracked other global markets upwards as the sealing of a second bailout for Greece produced a collective sigh of relief from investors, governments and financial institutions. Leaders of the Eurozone threw a lifeline to debt-stricken Greece that includes an extra €109bn of government money as well as a significant contribution from private [...]
CITY MOVES | WHO’S SWITCHING JOBS July 14, 2011 Towry The wealth adviser has appointed Gerald Corbett as a non-executive director, adding to his chairmanships of Britvic and Moneysupermarket.com and his non-executive directorship of Numis Securities. Corbett’s previous non-exec roles include Greencore Group, Burmah Castrol and MEPC; he is also a former chairman of SSL International and the Woolworth Group. During his executive career, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 11, 2011 FINANCIAL TIMES INSURERS TO FUND POLICE TEAM IN FRAUD CRACKDOWN Insurers are to spend £8.2m funding a specialist police unit that will be dedicated to cracking down on the growing problem of insurance fraud, which costs an estimated £2bn a year. A new unit of 35 specialist fraud detectives and police support staff will be [...]
All the world buys into London July 10, 2011 Office Space CENTRAL London looks set to be the prime beneficiary of a renewed appetite for direct investment into UK commercial property. The capital already tops the league table of largest global property investment markets, netting close on £11bn in 2010, significantly more than closest rivals Tokyo, Paris and New York. And the prospects for [...]
FUND MANAGER OF THE YEAR | The Shortlist day nine June 29, 2011 Institutional investors play a critical role across the spectrum of corporate life and wealth generation in the UK. From generating households’ pension or life insurance income, to ensuring companies maintain the highest standards of corporate governance, their decisions are vital. In an increasingly globalised and competitive world, the City’s investment managers have proved themselves innovative, [...]
Insurance stocks jitter as Goldman reviews ratings June 28, 2011 SHARES in the UK’s biggest life insurers moved significantly yesterday after stockbroker Goldman Sachs published a review of the companies’ ratings. Its analysis concluded that a massive upswing in demand for financial protection would not benefit listed life insurers as new alternatives such as the government-sponsored National Employment Savings Trust would grab market share. “Worryingly, [...]
Banks and commodities lift FTSE June 28, 2011 The FTSE 100 tracked gains in Asia and on Wall Street this morning as fears of an economic meltdown in Greece were eased with France moving to give the country a reprieve. Banking and commodity sectors saw a lift as new life was breathed into global markets. French President Nicolas Sarkozy said his country’s banks [...]