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 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
- 5 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Pornhub star Mia Khalifa receives death threats after being ranked the site's top adult actress
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...