Knight Capital fined $12m over trading mistake October 16, 2013 KNIGHT Capital, now part of KCG Holdings, was fined $12m (£7.5m) to settle charges connected with a trading error in 2012 that caused millions of errant orders to flood the market, the US Securities and Exchange Commission said yesterday. Knight did not have appropriate risk controls in place to prevent the execution of erroneous trades [...]
Free tools seek to fill advice gap as DIY investors rise October 15, 2013 But the evidence still suggests that financial advisers are key to long-term financial planning THE TREND towards DIY investment is accelerating. On top of the rising popularity of low cost execution-only investment platforms, some think that the Financial Conduct Authority’s retail distribution review (RDR), which came into effect at the beginning of 2013, has intensified [...]
BFI London Film Festival second week highlights October 14, 2013 THE STARS may not turn out in their droves and it may not be the stand out event in the film festival calendar, but in its own understated way, the London Film Festival has been pleasing London film buffs for decades. From the gala screening of Tom Hanks’ Captain Phillips that opened the festival, to [...]
Ruff and tumble pawlitics as MPs vie for top dog October 10, 2013 THE HOUSE of Commons has seen some important votes this year – but none have been more fiercely contested than yesterday’s Westminster Dog of the Year competition. The annual shindig, organised by the Kennel Club and Dogs Trust, saw no end of backbiting and scratching. International development minister Alan Duncan took the top prize but only after [...]
Join an exclusive club in the City October 10, 2013 Luxury developments are stocking up on facilities normally found in five-star hotels HOLIDAYS are great. Want to go to the gym without stepping outside in jogging bottoms? Fancy a swim at 2am? Want to relax in your own private bar? And on top of that, there’s someone on the end of the phone waiting to [...]
Foreign buyers take half of £1m London homes October 8, 2013 NEARLY half of prime central London homes sold for more than £1m in the year to June went to foreign buyers, according to research published by Knight Frank. However only 28 per cent of the buyers lived outside the UK, as opposed to foreign residents in the country. These buyers were mainly investors, looking to [...]
Bottom Line: Tale of two cities for foreign cash October 8, 2013 FOR A while now it’s been clear that prime central London almost deserves its own, ringfenced place on the map. House prices in the area – initially defined as Mayfair, Knightsbridge, Belgravia and Chelsea but often spreading further – have increased by 116 per cent in the last eight years according to recent research, massively outperforming [...]
Ferrexpo has record production but weak metal prices hit hard October 8, 2013 RECORD production in the third quarter was not enough to stop FTSE 250-listed iron ore miner Ferrexpo’s shares sliding 2.5 per cent yesterday, as the low base metal price weighed down on the sector. Ferrexpo delivered 2,681kt of pellets from its own ore, up 3.2 per cent from the second quarter. Total pellet production for [...]
City Moves for 09 October 2013 | Who’s switching jobs October 8, 2013 MacKay ShieldsThe fixed-income investment management firm has hired Matthew Nagele as managing director and head of distribution for the UK and Europe, the Middle East and Africa. He has previously held senior roles at Janus Capital Group and Old Mutual Asset Managers (UK). Jones DayThe law firm has announced the appointment of Michael Weir as a [...]
UK blackout risk at five-year high October 7, 2013 THE UK is at its greatest risk of a winter power blackout in half a decade, National Grid warned yesterday. In the latest threat to the country’s energy security, the network operator forecast that the margin of electricity reserves – the safety buffer of spare capacity between supply and demand – will fall to five [...]