Friday, 5th December 2008

 
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7 October 2008 - Press Briefing

Oppenheimer analyst cuts UBS earnings estimate

Meredith Whitney, the influential baking analyst at Oppenheimer, has warned that UBS’ earnings power will continue to remain challenged for some time, as she cut her third-quarter projections and widened her 2008 per-share loss view for the Swiss bank, according to a Reuters report.

Maintaining an "underperform" rating on UBS’ stock, Whitney slashed her earnings estimate for the July-September period to 13 cents a share from 43 cents a share, and widened her 2008 loss-per-share view to $5.23 a share from $4.89.

She also predicted net markdowns of $1.5bn related to monoline exposures at UBS, the Reuters report said.

Tags: Meredith Whitney , Oppenheimer , 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.

Rich Monitor

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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