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...He says, however, that Hermès’ investment in its distribution network and the expansion of existing stores means there is more space for watches....
...For a while, the bans on almost any high-tech sales to Huawei hit it hard, particularly after the company was shut out of US and other western telecoms networks....
...HSBC has promoted Gerry Keefe and Lisa McGeough to lead global banking following Greg Guyett’s appointment as sole head of its markets business, Bloomberg reports....
...“Not 3D printers and creative hubs,” says Keefe, identifying one of the purest tropes of contemporary developer-speak....
...Job moves Gerry Keefe has joined HSBC as its new head of global banking after a 14-year career at Citigroup culminating in his position as head of global sales....
...Berlin intervened to stop State Grid Corp of China from acquiring a stake in high-voltage power network operator 50Hertz....
...Swiss watchmakers upbeat on surge in high-end sales The article on Deloitte’s annual report on the watch industry is a useful reminder for marketers of the myriad of factors that can affect product sales...
...They still need to sell assets and raise fresh equity,” said Daragh Quinn, a bank analyst at Keefe, Bruyette & Woods....
...“I’d assumed a savage reaction, but not this bad,” said Sanjay Sakhrani, analyst at Keefe, Bruyette & Woods in New York....
...“We don’t see balance sheet risk, but we do see earnings risk,” said Fred Cannon, global director of research at Keefe, Bruyette & Woods, summing up the outlook for 2016....
...Keefe, Bruyette & Woods analysts had a one-word summary for the sector: “Challenging.”...
...“Citi’s basic problem is that they can’t make any money,” said David Threadgold, head of Asian research at Keefe, Bruyette & Woods in Tokyo....
...This innovation reflected the company’s excessive risk appetite, says Justin Bates, an analyst at Keefe, Bruyette & Woods....
...“It would also make it more palatable to any interested firm and carry less execution risk than an outright sale.”...
...The lack of deals is mainly due to the paucity of buyers, says John Hompe, a managing director in Keefe, Bruyette & Woods financial institutions group....
...Fred Cannon, analyst at Keefe, Bruyette & Woods, said WaMu’s franchise and retail branch network on the west coast of the US made it an attractive prospect for banks such as JPMorgan, but added that a buyer...
...Jean-Pierre Lambert at Keefe, Bruyette & Woods said: “The goal is to support lending - banks are committed to increasing their loans to companies and households by 3 to 4 per cent....
...The analyst adds that a drop in revenues from the banking network would not represent a strategic difficulty for Allianz....
...The most obvious prospect for consolidation involves Postbank, one of Germany’s biggest retail banks with a highly visible high street network....
...Keefe, Bruyette & Woods said ABN was unlikely to attract interest from the US....
...Northern Foods slumped 17.1 per cent to 107¾ p as the maker of Fox’s Biscuits blamed a “serious downturn in the biscuit market” for a 12 per cent fall in biscuit sales in January and February....
...Jean-Pierre Lambert, strategist at Keefe, Bruyette Woods, said that a potential deal was unlikely due to competition concerns....
...Goldman Sachs raised its rating to “in-line” from “underperform” and Keefe, Bruyette and Woods moved to ‘neutral’ from ‘underperform’....
...“But we didn't have to make much of a sale - they [the Beijing officials] got it.”...
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