| | Friday 10 August 2012 THOUGHT FOR THE DAY  Hello Crazy Folk. The sunshine finally comes to my neck of the woods – and I would have expected shares to rise. This, of course, is a silly expectation because shares are more to do with the hard realities of the big city. They are little to do with the way we feel. We can't expect share values to rise just because the clouds go away. Well, that's partly true. But we must not completely ignore the way the public is feeling. The public include big traders and it is more natural to buy shares in happy expectation than to sell them when the world smiles at you. Take the Olympic Games for example. Britain is doing better than expected. The crowd is loving it. The big shares centre of the UK is not far from the Olympic action. There will be some benefit to share prices.
Click here to view the rest of the article
Paper round Barclays new Chairman, LIBOR, FSA
Sir David Walker, former Deputy Governor of the Bank of England, and described by The Times as 'a veteran City grandee', has been named as the new Chairman of scandal-hit bank Barclays. His arrival caps a career that has included stints at the Treasury, Lloyds Bank, Legal & General and latterly Morgan Stanley. Walker joins a bank that has been accused by its own regulator of suffering an endemic cultural weakness. As well as being forced to pay a record £290 million in fines over the LIBOR rate-fixing scandal, the bank fell foul of shareholders over its bumper bonus deals for investment bankers and confidence among consumers was dented by mis-sold payment protection insurance, the Times says.
Some eyebrows may be raised in the City at Walker's age - he is 72 - the Times notes, but his appointment has gained the approval of some major investors - such as Legal & General Investment Management - and some consumer groups, such as Saga.
On the subject of LIBOR - the London Inter-bank Offered Rate - Martin Wheatley, the financier who has been asked by the Government to head an inquiry into how the key benchmark borrowing rate is set, will publish an initial discussion paper on Friday. The Telegraph said it will include suggestions on how to restore trust in the system following the recent rate-rigging scandal that saw Barclays hit with a £290m fine for LIBOR manipulation. Quoting the Press Association news-wire, the Telegraph said stakeholders such as banks will have four weeks to submit written responses to the proposals.
Meanwhile, Tracey McDermott, described by The Independent as the 'nemesis' of former Barclays Chief Executive Officer Bob Diamond, has been named as the Financial Services Agency's (FSA) new prosecutor. McDermott is the new head of enforcement at the FSA. The City watchdog cited McDermott's 'impressive work' over the past 16 months as its acting director of the enforcement and financial crime division, the Indy notes.
The Chancellor of the Exchequer, George Osborne, has been going in to bat on behalf of UK bank Standard Chartered in New York, the Financial Times reports. Osborne has spoken to Tim Geithner, the US Treasury secretary, three times in the space of two days over the New York regulatory probe into Standard Chartered in a sign of the British government's mounting concern. The Chancellor spoke to Geithner on Tuesday, Wednesday and then again on Wednesday night amid worries about the potential damage the investigation could do to the reputation of the City of London, according to the FT.
FREE SHARE TIP OF THE DAY  Say the experts at UKMicrocap.com
Solid State is a specialist electronics business with particular expertise in batteries and ruggedised industrial computing products used in harsh environments; its operations comprise sales, marketing distribution and manufacturing. Having joined AIM in 1996, the firm has subsequently grown organically and through acquisitions - most notably, Blazepoint (October 2011) Rugged Systems (April 2010), RZ Pressure Systems (2007), Wordsworth Technology (2005) and Steatite (2002), acquired for an average exit multiple of 6 times earnings. Solid State operates in the UK through its two principal trading subsidiaries, Solid State Supplies Ltd and Steatite Ltd, although products are also marketed through a number of industry-leading brands including Wordsworth (displays, networking, embedded systems), Rugged Systems and RZ Pressure (batteries). Each company has considerable operating autonomy, which is important in enabling it to respond to customers' bespoke needs.
Click here to view the rest of the article
THE LATEST ON THE CRAZY BOARD The top 5 hot company threads on the Bulletin Board: Mariana Resources - Standard Chartered Zoltav Resources Fiberweb Running trading thread
Click here to discuss shares with other ShareCrazy members
BOOK OF THE WEEK  By Richard Rumelt
A book review by Aaron Padgham of t1ps.com Richard Rumelt's book, Good Strategy, Bad Strategy explains the very definition of a strategy - a coherent response to one's obstacles in order to progress, and whether you're a high-flying CEO, head of a charity or the coach of a local sports team, you will know, or are soon to learn that the creation and implementation of a focused 'good' strategy is a key requirement to success.
Click here to view the rest of the article
|
|
| | | |
| | |
|
If you do not wish to receive such emails please use the following link to unsubscribe. Sharecrazy.com Limited is an Appointed Representative (FSA registered number 245145) of Rivington Street Corporate Finance Limited which is authorized and regulated by the Financial Services Authority (FSA registered number 184761). Sharecrazy.com Limited is ultimately owned by Rivington Street Holdings PLC, 39 Athol Street, Douglas, Isle of Man IM1 1LA, the holding company for other regulated entities such as t1ps.com Limited and Rivington Street Corporate Finance Limited. Sharecrazy.com Limited does not offer investment advice and the ShareCrazy Trader service we provide is administered by Jarvis Investment Management Plc, which is authorised and regulated by the Financial Services Authority. The website and the articles on it are for general guidance only and we cannot assume legal liability for any errors or omissions they might contain. The value of investments can go down as well as up and you may not get back the full amount you invested. If you are in any doubt about investing, seek the guidance of a suitably qualified and regulated financial adviser.
No comments:
Post a Comment