Professional Services

Lessons ‘not learned’ from bank crisis

Policymakers have not learned their lessons from the financial crisis, a think-tank has reported today.

Ford posts profit after restructuring, shares jump

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt-reduction plan, and said it was on track to at least break even in 2011, sending its shares up 10 percent.

Chinese learn credit card perils the hard way

Beijing retiree Yuan Yizhong cut up his son's seven credit cards with a scissors in a frenzy of fury when he discovered that the 29-year-old had racked up huge debts that he couldn't afford to pay back.

People chat next to advertisements for a local bank's credit card in the center of Shanghai August 10, 2009. REUTERS/Nir Elias

Bank sees inflation below target in 2 yrs

The economy will take a long time to recover properly, the Bank of England warned on Wednesday, signalling that financial markets had got ahead of themselves by pricing in higher interest rates next year.

A man walks through the front hall of the Bank of England in London March 25, 2008. REUTERS/Luke MacGregor

Legal & General posts better than expected Q1 sales

L&G’s first quarter sales increased 3 percent, although shares in the insurance giant plunged 11 percent off the back of dire U.S. retail reports.

Citi announces senior management changes

Citigroup CFO Gary Crittenden has been named to the newly created role of Chairman of Citi Holdings.

Gary Crittenden new Chairman of Citi Holdings

3i crowns Queen as CEO for troubled times

3i Group veteran Michael Queen will bring an investor's detail-hungry mindset to bear as he steers the private equity group through a turbulent period as its new chief executive.

Schwab profit climbs 1 percent, shares rise

Charles Schwab Corp reported a slim earnings rise, beating expectations, but its shares lagged peers as the company warned that conditions boosting its trading and asset gathering may soon disappear.

Polar Capital posts 22 percent fall

Fund manager Polar Capital Holdings said on Friday that assets under management in the nine months to 31 Dec 2008 fell by 22 percent to $2.45 billion (1.6 billion pounds) due to market deterioration in the last quarter of 2008.

Dubai launches Islamic commodity hedge fund Index

LONDON (Reuters)-The Dubai Multi Commodities Centre Authority governmental agency and asset manager Shariah Capital launched an index tracking the performance of Islamic hedge funds investing in commodities on Wednesday.

Trading in Lenovo shares suspended: HKEx

Shares of Lenovo were suspended on Wednesday, as market talk swirled that the world's No. 4 PC seller was set to announce a major restructuring amid flagging sales in the global downturn.

Blue Oar says Evolve welcomes buy out

Blue Oar said on Wednesday that Evolve Capital had invited proposals for a management buyout of Blue Oar's stockbroking arm, having had an offer for the entire group declared unconditional.