UK share boost is tempered by Italian election February 25, 2013 LONDON REPORT UK shares shed all of their early gains yesterday as projected Italian election results suggested a clear-cut winner was unlikely to emerge, diminishing the prospects for a stable government. Early exit polls suggesting a healthy lead for a centre-left coalition led by Pier Luigi Bersani in both houses of parliament were confounded by [...]
Knight Capital to sell brokerage February 24, 2013 Knight Capital Group, which recently agreed to be bought for $1.4bn (£928m) by Getco Holding Co, has struck a deal to sell its credit-brokerage unit to Stifel Financial, according to a person familiar with the matter. The terms of the deal were not known. But Stifel will be picking up investment-grade, high-yield, asset-backed and mortgage [...]
Sorry savers: More easing is still needed to support UK recovery February 21, 2013 THE Monetary Policy Committee’s (MPC) minutes of its meeting on 20 February make some very interesting reading. They suggest that the Committee is ready to adopt a more flexible approach to policy-making. And of particular interest is that, for an unprecedented fifth time, governor of the Bank of England Sir Mervyn King voted in the [...]
UK trade bodies call for solution to energy crisis February 19, 2013 ENERGY groups yesterday called for more technological investment to solve the UK’s looming crisis after warnings from regulators a future squeeze on production will cause price hikes for consumers. The chief executive of energy watchdog Ofgem, Alistair Buchanan, yesterday warned a fall in the UK’s power production over the next few years would lead to [...]
City Moves for 18 February 2013 | Who’s switching jobs February 17, 2013 Arle Capital Partners The private equity partnership has appointed Quentin Nason as head of client services, strategy and business development. He was most recently managing director in equity capital and structured equity capital at Deutsche Bank. FTI Consulting The business advisory firm has announced the appointment of two regulatory consultants to lead its governance, risk [...]
Buy to let loans grow to 12pc of market in 2012 February 14, 2013 THE BUY-TO-LET market enjoyed rapid expansion in 2012, ballooning back up towards its pre-recession peak, according to figures out yesterday. Buy-to let lending exploded 19 per cent between 2011 and last year, from £13.8bn to £16.4bn, the Council of Mortgage Lenders (CML) said. This boom saw it taking up 11.5 per cent of total gross [...]
City Views | How much have you spent on Valentine’s day this year? February 14, 2013 ADAM LEWIS | UBS I have a girlfriend and haven’t spent a penny. I don’t see it as a big thing and only found out when somebody told me today… I found a poem, copied it into an email and sent it to her. I don’t think she’s particularly worried either. PHIL KNIGHT | SEB [...]
High-frequency trading firm Getco struggles February 13, 2013 HIGH-FREQUENCY trading business Getco yesterday revealed an 82 per cent drop in profits for the first nine months of 2012 thanks to poor market conditions. The figures – the first time that the company has made its financial performance public – were contained in a filing to the US securities and exchange made as part [...]
Calling all real estate amateur Ascot jockeys February 11, 2013 THE ANNUAL Property Race Day is always a highly enjoyable fixture in the real estate industry calendar, as 700 thoroughbreds from the property world descend on Ascot for a day of racing and networking. However this year the best will be saved until last, as 12 brave real estate runners will be donning skullcaps and [...]
Goldman’s O’Neill to step down February 5, 2013 THE ECONOMIST who first picked out the BRIC economies will retire from Goldman Sachs later this year. Jim O’Neill, the chairman of Goldman Sachs’ asset management division, coined the term to refer to the four markets of Brazil, Russia, India and China, which he forecast would lead a shift in the global economy. Earlier this [...]