Friday, 5th December 2008

 
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26 September 2008 - Press Briefing

Rebel investor said to have called truce with UBS

Activist investor Luqman Arnold is understood to have struck a peace pact with UBS’ management, as the beleaguered Swiss bank mulls a potential sale of its investment banking unit, according to a Reuters report.

Olivant, Arnold's investment firm, controls a holding of nearly 3% in UBS, and had been aggressively campaigning for the split of the bank’s lucrative wealth management division from the troubled investment banking arm.

However, sources said that Arnold has committed not to publicly voice criticism of the bank after Kurer rejigged the firm to make a sale of investment banking possible, the Reuters report said.

Tags: Luqman Arnold , UBS

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Mayfair goes Modern

Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.

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Stocking filler: Harrods sells world's most expensive shirt

Harrods, the luxury London-based retailer, is selling a diamond-encrusted shirt valued at £20,000, the world's most expensive shirt ever made. Although the shirt has not yet been sold, it puts paid to the idea of the wealthy having to reign in their spending as a result of the recession.

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