The post-trade space is facing a revolution following Mifid June 17, 2009 IN THE fast and exciting world of trading it is all too easy to overlook the importance of the necessary but rather administrative post-trade activities, of which clearing and settlement are the most important. But these play a vital role in the functioning of the European securities markets. And the European clearing and settlement space [...]
CITY MOVES WHO’S SWITCHING JOBS June 16, 2009 AIB GroupThe UK-based subsidiary of Allied Irish Bank has appointed Nick Treble to the position of managing director. Treble, 49, has worked at the bank for 27 years, joining in 1982 as a trainee in its treasury department. He subsequently held posts in London as head of treasury and general manager for capital markets, before being appointed group treasurer in 2001. He became chief risk officer in early 2008. Financial Services Authority The City watchdog has appointed Ken [...]
Economy fears hit oil, miners and banks but defensives fly June 16, 2009 THE FTSE 100 closed 0.1 per cent higher yesterday, recovering only a small part of Monday’s sharp falls as strength in defensive stocks was countered by falls in oils, miners, and banks. At the close the FTSE 100 was up 2.56 points at 4,328.57, rallying slightly after hitting a six-week closing low on Monday when [...]
US falls on gloomy stats and Best Buy June 16, 2009 US stocks slipped yesterday as mixed economic data and disappointing sales figures from giant electronics retailer Best Buy spurred worries about an anemic recovery. After a three-month run that lifted the S&P 500 as much as 40 per cent from 12-year lows, analysts said the economy needs to start showing real improvement to support optimism [...]
WORST CITY FIRMS TO JOIN ROLL OF HONOUR June 14, 2009 FANCY awards dinners have a reputation for being duller than dishwater, so it’s refreshing to hear of an upcoming ceremony that aims to break the mould. That’s right: the Sharecrazy Worst Company of the Year awards are back by popular demand, having gone down a treat with frazzled City folk last time around at a [...]
Disastrous for Labour, good for the Tories June 7, 2009 IT was a disastrous night for Labour, and an even worse one for Gordon Brown, now a lame duck prime minister who cannot even appoint the cabinet of his choice. But Labour’s crushing defeat – it got just 21.3 per cent of the vote in London, was beaten in Wales by the Tories for the [...]
The robots are back, and this time they’re noisy June 4, 2009 TERMINATOR SALVATIONCert: 12ADESPITE the hi-tech sci-fi and bone-crunching, metal limb-crushing action sequences, the excitement of the first two Terminator movies came from the simple thrill of the chase. The execrable T3 pretty much did for that element, and it’s hardly been revived for the fourth instalment (though a chase sequence does account for the film’s [...]
Network Rail bosses set to get bonuses June 3, 2009 RAIL OPERATOR Network Rail said yesterday it would pay its executives bonuses, despite a furore over pay in blue chip companies, and a possible licence breach at the company. Directors will share £1m between them as the rail regulator, the Office of Rail Regulation (ORR), investigates claims of a licence breach on its west coast [...]
Shivers abound in this Gothic page-turner June 3, 2009 THE LITTLE STRANGERBy Sarah WatersVIRAGO, £16.99 THIS venerable, multi-award winning novelist (shortlisted for the Booker Prize twice with Fingersmith and Nightwatch) has returned to historical fiction with a blazing, immaculate Gothic ghost story set in postwar Britain. Welsh-born Waters is known for her Victorian lesbian drama and fans of that style might be sad the [...]
Sigh of relief as long gilts sell like hotcakes June 2, 2009 ULTRA long-term government bonds flew off the government’s shelves yesterday, assuaging fears about its ability to raise money after its last auction failed in March. The Debt Management Office (DMO), which auctions the sovereign bonds known as gilts, received £4.6bn of bids for the £2bn of 40-year debt it was offering, triggering its new post-auction [...]