Credit crisis diary: Job cuts on the way – just don't tell the staff
Thursday 19 March 2009
When staff at Euromoney were told they would have to take unpaid holiday this year, they took some comfort from their employer's reassuring promise that the measure would help to limit job cuts. Euromoney, however, seems to be telling the City something different. Analysts at Royal Bank of Scotland report: "Euromoney has stepped up its cost-cutting plans, with a target of taking out 15 to 20 per cent of group headcount this year (ie 350 to 400 jobs)." Lots of Euromoney staff are going to be taking even more unpaid holiday.
Groceries man takes a dive
Dr Gordon Campbell, the managing director of the grocery chain Spar International, is a man who can think on his feet – once he's back on them. Bounding up the steps to speak at the Retail Week conference yesterday, the poor man tripped himself up and went flying. "I actually didn't rehearse that last night, which is a pity," said Dr Campbell. "The world is changing – there are great potholes to fall down, and you have to be careful where you are going."
HSBC short seller revealed: it's RBS
A strange disclosure to the stock market, this one. Which lender has just increased its short-selling exposure to HSBC? Only Royal Bank of Scotland, which owns a chunky little short bet on the bank, courtesy of one of the units of ABN Amro it has inherited. RBS betting against HSBC – that's surely the wrong way round?
Bank bosses lack nerve to back themselves
With bank share prices now so low, presumably the big cheeses running them – who never stop expressing their confidence about the future – are excited by the opportunity to snap up some stock on the cheap. Not according to DigitalLook.com, the investment site that monitors directors' dealings in their own companies. Bank bosses have spent just £1,500 on their own stock in the past six months, it says, down from £595,000 in the previous six months.
Too small to make much difference
Good to see private equity is getting serious about risk management. But does the insurer Aon really think a 26-page, pocket-sized booklet is going to be enough to safeguard the sector in these troubled times? Entitled The Private Equity Mini-Guide To Risk Management, it's a little short on the requisite protection. Still, it's the thought that counts.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Chris Moyles reportedly set to make radio comeback with new breakfast show on XFM
- 4 The Greece debt crisis explained in less than 100 words
- 5 Cristiano Ronaldo storms out of interview after being asked about possible sale of Manchester United target Sergio Ramos
Hilary Swank: Million Dollar Baby star says she turns down roles to care for elderly father
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
The Greece debt crisis explained in less than 100 words
Bastrop: The Texas town where many fear a large military training exercise will be used by President Obama to take their guns and impose martial law
Bakery sends 'horrific' version of Frozen-themed birthday cake to unsuspecting customer
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
iJobs Money & Business
£40000 - £95000 per annum: Recruitment Genius: This is an exciting opportunity...
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...