City Moves for 05 August 2015 | Who’s switching jobs August 4, 2015 Mayfair Capital Investment Management The UK real estate investment manager has announced the appointment of Phil Sturdy (pictured) as investment director. He joins from Rockspring Property Investment Managers, where he was European director. Sturdy has also previously held positions at CBRE. In addition, Mayfair Capital has appointed Laura Sweet as an asset manager. She previously [...]
Begbies Traynor hurt by decline in insolvencies July 14, 2015 BUSINESS recovery and advisory firm Begbies Traynor suffered a fall in annual profits after an improvement in the UK economy led to the lowest level of corporate insolvencies since the financial crisis. Adjusted profits before tax fell by a third to £3.6m in the year to 30 April compared with £5.4m the previous year. Total [...]
Greece could be about to enter a €2bn energy deal with Russia July 9, 2015 Greek energy minister Panagiotis Lafazanis has just revealed plans for a huge energy deal with Russia – a move that will undoubtedly fan the flames over in Brussels. Read more: European markets rise sharply on Greece hopes In a speech to energy executives in Athens today, he said Greece might sign a €2bn (£1.4bn) [...]
Greece will default on its €1.6bn repayment to the IMF today June 30, 2015 Greece will not pay the €1.6bn (£1.14bn) it owes to the IMF today, Athens has confirmed Read more: How Twitter became Alexis Tsipras’ secret weapon in Greek negotiations The beleaguered country is required to make the repayment to its creditor by 11pm on 30 June, after saying it would bundle all its payments for the month [...]
S&P downgrades Greece and puts chances of Grexit at 50 per cent June 29, 2015 S&P has downgraded Greece's credit rating from CCC to CCC-, and says there is a 50 per cent chance it will leave the Euro. Read more: Greece will default on its €1.6bn repayment to the IMF tomorrow It made the change because it feels that, unless circumstances change, Athens will probably default on its [...]
Greece debt crisis: Here’s what the analysts say about the plan to close all Greek banks June 28, 2015 Today, the European Central Bank announced it will not increase emergency loans for Greek banks after Prime Minister Alexis Tsipras called for a surprise referendum on a reform deal. Huge sums of cash were withdrawn from ATMs across the country yesterday, and this has prompted Greece to close all its banks on Monday while [...]
Greek debt crisis: Banks will be closed on Monday as capital controls are imposed June 28, 2015 Greek banks will be closed tomorrow, Prime Minister Alexis Tsipras has said, while capital controls are put in place, Read more: Take enough cash to Greece, Government advises British tourists He would not confirm the length of time they will remain closed for, but said Greek deposits were safe. The decision follows the European [...]
How Argentina’s struggle in the late 1990s could provide lessons to Greek leaders June 26, 2015 As Greece teeters on the brink of default, its leaders could do worse than to look to Argentina's own tussle with default back in the late 1990s. Why they're similar Like Greece, the economic crisis in Argentina began against a backdrop of deregulation and financial liberalisation – although in Argentina's case, its convertibilidad policy pegged the [...]
City Moves for 23 June 2015 | Who’s switching jobs June 22, 2015 BLP Insurance The insurer has appointed Craig Parfitt as chief operating officer. He joins from Deutsche Bank, where he was managing director specialising in financial management, operational excellence, transformational change and project management. JP Morgan Asset Management Thushka Maharaj has been appointed global strategist and executive director in the asset management firm’s global strategy team. [...]
Greece on the brink ahead of crisis talks June 22, 2015 Greece faces bankruptcy and capital controls within days if Eurozone finance ministers fail to strike a bailout deal at an emergency meeting in Brussels today, the chairwoman of Greece’s largest bank has warned. Louka Katseli, chair of the National Bank of Greece, told City A.M. that without a deal Athens risked a technical default before [...]