Tensions within the Eurozone put the single currency’s future at risk May 24, 2010 RESEARCH DIRECTOR, FOREX.COM JANE FOLEY IT SEEMS improbable that fiscal issues in a small country such as Greece could make the government of a country as large as the US worried about contagion. Yet this is exactly what has happened. This is only so, of course, because the US government is mindful of its own [...]
CITY MOVES | WHO’S SWITCHING JOBS May 20, 2010 Collins Stewart The financial advisory group has hired property research veteran Nan Rogers (pictured) and Jonathan Imlah to its small and mid cap equity research team. Rogers has 25 years of experience and joins from Arbuthnot Securities. She has also worked at Bridgewell, Charterhouse and James Capel. Imlah was formerly at Altium Securities, where he [...]
Yell shares plummet after top execs announce departure May 18, 2010 SHARES in embattled Yell tumbled by almost a fifth yesterday as news of the imminent departure of two of its top men gave investors the jitters. The chief executive and chief financial officer will quit the struggling yellow-pages publisher after preventing a debt crisis from escalating into insolvency. Chief executive John Condron, who will leave [...]
Swiss Re fights break-up plans May 16, 2010 Walter Kielholz, chairman of insurer Swiss Re, yesterday spoke out against the proposals of Switzerland’s “too big too fail” commission, saying it would be unwise to split up banks. Kielholz, who also sits on the board at Credit Suisse, told a paper that splitting up banks could lead foreign regulators to resort to retaliatory measures, [...]
Why the euro is an economic absurdity May 5, 2010 I REALLY wasn’t sure what to expect when I went to meet Bertrand des Pallieres. This is the man, after all, who lightened the gloom in the middle of the financial crisis with the story that his £80,000 Maserati had been towed, but that he was “too busy” setting up his hedge fund, SPQR, to [...]
Hull standing on own two feet April 28, 2010 CASH-STRAPPED Hull City have denied they are to enter into administration as a result of their almost-certain relegation from the Premier League. Tigers chiefs accept the drop into the Championship is inevitable but say there are no plans to enter into any form of insolvency process. Owner Russell Bartlett said: “We will need to reduce [...]
Begbies: UK faces £55bn black hole April 26, 2010 A RISE in interest rates in the coming year could push thousands of small businesses into bankruptcy, insolvency expert Begbies Traynor warned this morning. In its first quarter “Red Flag” update, which monitors UK companies for signs of stress, Begbies said small and medium-sized enterprises (SMEs) had £55bn of liabilities on their books. The debts [...]
CITY MOVES | WHO’S SWITCHING JOBS April 26, 2010 PricewaterhouseCoopers Bridget Jackson has joined the accountancy firm as director of corporate sustainability, leading the firm’s internal environmental, community and corporate sustainability strategy. Jackson has over twenty years of experience in international business and strategy consulting. She joins from management consulting firm Accenture. She will report directly to managing partner Richard Collier-Keywood. Resolution The investment [...]
We’re lying to ourselves on spending April 22, 2010 THERE was no clear winner from yesterday’s debates, in contrast to last week’s, when Nick Clegg triumphed. This time was very different: Gordon Brown did his best but failed to convince viewers, according to instant polls; Cameron fought back but didn’t manage to put in a game-changing, breakthrough performance. Clegg wasn’t as convincing as the [...]
Liquidation numbers rise April 8, 2010 A growing number of UK companies are choosing to cease trading before being forced into insolvency, leading to the highest number of liquidations since 1992. In 2008-2009, 23,500 companies went into liquidation. The number is expected to rise by nine per cent to over 25,600 for 2009-2010. This is the highest figure since 1991-1992 when [...]