WALL STREET WEEK AHEAD January 16, 2011 US bank stocks are flying high, and this week’s earnings could give investors more reason to be optimistic about the sector. Strong results from JPMorgan Chase & Co on Friday bolstered expectations for top US banks, many of which are due to report in the coming week, including Citigroup and Goldman Sachs. Financials have been [...]
I LEARNT MORE FROM FAILURE THAN SUCCESS January 13, 2011 AUTHOR AND FOUNDER OF ANTAL INTERNATIONAL IBUILT a recruitment organisation which spanned Europe and then nearly lost the whole thing when the market turned down post 9/11. And the fact that it’s now back on its feet again, with offices in 30 countries, is because I learned a lot more from getting things wrong than [...]
Do as we say, not as we do, says the Mirror January 12, 2011 EDITORS at the Daily Mirror could barely contain their excitement at the coming of bonus season yesterday, splashing their front page on the beleaguered chief executive of RBS, Stephen Hester under the headline “Do the right thing: give up your obscene £3m bonus”. “The Mirror calls on Mr Hester and all the other fatcat bankers [...]
Corporate sales boost Sodexo January 12, 2011 FRENCH caterer Sodexo kept its 2011 goals for higher sales and profits, despite North American unemployment, a struggling public sector in Europe, and rising food prices that make the economic climate challenging. The world’s second-biggest catering services company after Britain’s Compass Group posted a 10.5 per cent rise in fiscal first-quarter sales yesterday. Sodexo benefitted [...]
German 2010 growth fastest since reunification January 12, 2011 Germany’s economy rebounded last year at its fastest rate since reunification, official figures have shown. GDP has bounced back at a rate of 3.6 per cent this year after slumping to its deepest post-war trough last year, preliminary Federal Statistics Office data showed. In 2009, German GDP shrank by 4.7 per cent, the biggest recorded [...]
Clubs dodge Twitter foul-ups January 11, 2011 LONDON’S leading clubs are warning their players about the perils of using Twitter as the Football Association begins to clamp down on social media. Premier League stars are increasingly bypassing press officers and their own representatives to engage with fans on Twitter, with Arsenal captain Cesc Fabregas a regular on the micro-blogging site. However, the [...]
Tesco names incoming UK team January 6, 2011 RETAIL giant Tesco yesterday named the eight-man team to lead its UK operation from March, reporting to new UK chief executive, Richard Brasher. Noel Robbins becomes chief operating officer, alongside new commercial directors Per Bank, and Laura Wade-Gery. Kevin Grace becomes property director; David North will become corporate affairs director and Judith Nelson personnel director. [...]
Citigroup wins $18m raid lawsuit brought by Oppenheimer January 5, 2011 US BROKERAGE Oppenheimer & Co has lost its eight-year battle to force Citigroup to pay over $18m (£11.6m) for luring away nine of its top financial advisers. A Financial Industry Regulatory Authority panel rejected claims from Oppenheimer that Citigroup conducted an unlawful “raid” on its brokerage business shortly after it was sold to New York-based [...]
Lib Dems gear up for a bumpy ride with Cable on the ropes December 21, 2010 EVEN as the story of business secretary Vince Cable’s indiscretions broke late on Monday, campaigners linked with the the office of Liberal Democrat deputy leader Simon Hughes were frantically sending out press releases. Surely an example of an impressive scale-up of the famously scatty Lib Dem media operation? Er, not quite. “Don’t use King’s Stairs [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]