The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Rich Ricci, head of Barclays’ investment bank, has ruled himself out of the running to replace Bob Diamond as chief executive as the troubled bank prepares to announce profits in the region of £1.7bn for the second quarter. Mr Ricci, one of Mr Diamond’s key lieutenants, is believed to have told friends that he neither wants the job, nor thinks it would be sensible for him to be appointed. His absence from the running to replace Mr Diamond – who resigned in the wake of the Libor-fixing scandal – will create a further headache for Barclays’ board, which must also find a replacement for Marcus Agius, the outgoing chairman. Mr Ricci is instead said to want to focus on running the investment bank, formerly known as Barclays Capital, and restoring its reputation in the wake of the Libor scandal. Barclays had to pay £290m to a trio of financial regulators in the US and the UK after admitting some of its bankers manipulated the key global inter-bank borrowing rate. The Sunday Telegraph understands that Mr Agius and Sir Michael Rake, the deputy chairman, spoke to a number of investors last week to discuss the changes of key personnel. Some investors believe regulators intimated to the board that they would prefer an outside choice, which would effectively block Sir Michael, who is believed to have ruled himself out of becoming the bank’s next chairman. Related Articles 'BarCap was the Wild Wild West – that’s what we called it’ 21 Jul 2012 Can Barclays' investment bank keep producing the goods? 21 Jul 2012 Bob Diamond resigns as Barclays chief 03 Jul 2012 Barclays hoped to 'tough it out' and retain Bob Diamond 17 Jul 2012 Libor scandal: timeline 16 Jul 2012 The news comes ahead of Barclays’ second-quarter results on Friday, which will be presented by the bank’s chief financial officer, Chris Lucas. Consensus estimates forecast a pre-tax profit of £1.67bn on sales of £7.29bn in the three months to June which is likely to be flat year-on-year. Investment banking revenues are likely to have fallen in the region of 28pc. With Mr Ricci all-but out of the running for the CEO role, insiders believe that there is only one viable internal candidate – Naguib Kheraj, the former chief financial officer who is now a senior adviser to the bank. Mr Ricci’s divisional counterparts – Anthony Jenkins who runs the retail bank and Tom Kalaris who runs the wealth management arm – are both thought not to have enough experience. The search process is being led by the board in conjunction with headhunters Spencer Stuart. One institutional investor, who sits within the top 15 of Barclays’ share holders, said the priority for a new chief executive was someone who was not afraid of making disposals at Barclays. “It’s too big, it needs slimming down a bit. That would help the capital positio
http://www.telegraph.co.uk/finance/financialcrisis/8786665/Multi-trillion-plan-to-save-the-eurozone-being-prepared.html Evening guys, anyone got any thoughts to the press releases come out tonight ? http://www.bloomberg.com/news/2011-09-24/imf-stands-ready-to-strongly-support-euro-area-recovery-from-debt-crisis.html http://www.bloomberg.com/news/2011-09-23/europe-weighs-speedier-enactment-of-permanent-rescue-fund-to-stem-crisis.html
I'm still with you mate, Mitch is a whinger !
Hi mate,ignore the last post,ER are not based at Hemel and staff are not being taken through a process to remove them to save on redundancies. Just the normal rubbish you have come expected to read. Staff issues are being created due to managers becoming under extreame pressure to ensure that staff deliver everything as labour costs have been reduced significantly. To work as a sales colleague you need to be able to walk on water while not getting wet !
This go down to 24p then I will be back in with 500k shares !
Just popped on this site after a while to see who is spanking Mitch these days, i have stopped waste my time with him cos he is fill of s>>>. I'm sure he will be one of those customers all staff see coming into store and try and avoid him, every store has one ! You can pick holes in any of his posts, for example. ' DSG is paying my mortgage ' then he said 'i am not putting any big money into DSG' So there for he must have one of the smallest mortgages going !!!!! He has also been offered a non ex role on the board with MR JB, this has recently been published on our internal web site COOL as Seb James and JB have seen where they have been going wrong and have seen the benefit in getting advise from a sweet shop owner who spends all day pi55ing the staff of with what ever gossip he can capture to only report it back all wrong on this site. IPAD is a good exmple and bares no actual info around teh contract DGS had with Apple. Mitch please don't RSPV cos i don't give a 5hit what you think !!!
http://www.dailymail.co.uk/money/article-1293665/Best-Buy-hit-trademark-dispute.html
Hope your right mate , but what makes you so shaw when these shares have been poor for some time ?
To another board member who has worked out billy bull**** mitch
Your correct with your post other than higher paid managers being managed out of the business. There is a process that is in place to reduce in smaller stores the total number of managers but this has nothing to do with the salary they earn. With the 2 in 1 stores they are cherry picking the best managers which is deaf the correct stratergy.
Just been having some fun mate while nothing was on the tv. DSG share price will come good in the end, this is a long term investment little money to be had day trading.
QUOTE - i week before last put £10k real money in as i got itchy feet and made it upto £11.2 first week £14k second, and currently at £15,359 today. JUSTBUYSELL - your post mate along with mine has clarified that members on the board won't trust what he says in future ! And the facts highlight why !
QUOTE - 26th May - today i rest my case, still not a good time to buy in. dropped today. the news you mentioned did not cause significant long term impact to the share. QUOTE - 28th May - starting with money maker. i have put a ficticous £10k into DSGI in the lse Games on this site. with the share price as of 2pm today's price. this from now on is to monitor if you believe now is the time to buy a example going forward of how much you would have made me. i will ofcourse put my money into DSGI when i am ready and also put a ficticous £10k into the game. and lets at the 6 month reports and yearly reports see whom fairs better. FACT - HE PAID 26,52P QUOTE - 10th June - from now on no one should argue about suggestions or comments. if you got something to say, back it up with facts. if your going to quote someone make sure you add reasons why your quoting them . FACT - WELL , THINK YOU NEED TO TAKE YOUR OWN ADVISE QUOTE 19th June - the lse sharegame which i began with a fantasy £10k of urs whn you sais it looks like time to buy in went down to £8,700 few weeks back. but now you have made a massive £29!!!!! yes twenty-nine pound. in 7 weeks. FACT -MTHIS POST WAS AFTER LESS THAN ONE MONTH OF PUTTING TEH FANTACY BET ON ? ALSO THE PRICE 27.32P SO HOW HAVE YOU LOST MONEY IF YOU PAID 26.52P ON THE 28TH MAY AND ON TEH 19TH JUNE THEY SIT AT 27.32P QUOTE 25th June - but im still riding the waves. now at £14k of my £10k investment a fortnight ago.. im not yet willing to risk my big investment pot just yet. NO P - FACT - NOW THE PRICE IS 26.18P AND YOU MADE £14K ???
Mitch, i hold more shares in this comany than you are ever likely to be able to afford. When i add some information it is to share with the board, unlike yours where you rant on trying to get asnwers to half discussions you pick up along the way. Why must there be bad news to share with stores just because senior directors come to visist, after all we have just had good results, maybe we are going to share the message with the team. What i can tell you is that i do know why they are visiting and i can also tell you as normal you are way of the mark ! DSG are no more hungry than any other company who has share holders. I do however know that what you say you can make in day trading his crediable as i was making more in the hype last year. Don't feel you made any money as your posts have always said you had no shares currenlty. The board is to share information for the group, yet a number of us see little value in what you post as it is it is just fishing for gossip ! Finally . the real reason for the visists is to share with the group what a dick you are and you add no value to anyones day other that to add small amount of homour while we pi55 you off with our replies. Happy trading this week !
You gossip to much !!!!!!!!! Head office staff are not urgently visiting stores ! and there are no rumour ! so calm down ! And no i won't share why they are visiting !
You have told us that you didn't hold any shares and was only going to have a fantacy £10k to prove me wrong ?
You wrote 7, thats pretty clear to me there is no typo error. Mate, i don't care what DSG or Browett does as long as I and other share holders make money. The last few years for all retailers have been a challenge but I do agree that with his pedigree and back ground I also would have expected much more. With the results due out this week I expect after two full financial years in control to see better results, if not there has to be some rasied eye brows !
Don't be a dick Mitch, it was not 7 weeks ago, and a profit is a profi.
Fancy that, some good news and the markets rally significantly yet you still remain on to your reviews that the DSG SP does not get any impact from over seas. Today i rest my case as they went down with bad news at the start of the week and have now recovered due to some good news,an know it has nothing to do with the Ipad.