bank

The Killing of a Piggy Bank

Filed under: Art

This delicate little piggy bank vase is unexpectedly attractive considering it's meant to represent the ushering in of digital currency and the extinction of physical money, paused at the exact moment the hammer hits the piggy. I suspect in this recession some will also be inspired to see it as representative of the need to break into savings to survive. The Killing of a Piggy Bank is the result of a collaboration between Marcel Wanders and Royal Delft for Moooi, and is the latest addition to the Delft Blue Collection of porcelain vases. $1,288

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Tags: art, bank, decor, money, moooi, piggy bank, PiggyBank, vase

Bankers Buying in London: Luxury Home Prices on the Rise

by Tom Johansmeyer (RSS feed) —

Filed under: Real Estate Developments

After 17 months of misery, luxury home prices in London are finally up on an annual basis. Banking and hedge fund industry professionals are spending money again, largely because they're being paid again. Homes with values of above $1.6 million appreciated 1.6 percent in November compared to the same month last year. This was the first annual increase since June 2008. Nonetheless, prices remain 15 percent lower than the March 2008 peak. From October to November, prices grew 1.2 percent.

Liam Baily, head of residential research at Knight Frank, told Bloomberg News, "Anecdotal evidence from across our offices suggests that City money is becoming more apparent as we get closer to the end-of-year bonus season," continuing, "Demand from senior management is driving the market." Bonuses could wind up growing by 50 percent this year to 6 billion pounds in London's largest financial districts, and professionals in this industry are responsible for half the city's demand for luxury homes.

For homes at prices of more than $16 million, the price increases are even better: 1.9 percent from October to November this year. Residences in Chelsea, Kensington and Knightsbridge got the biggest boosts.

This has led to a bit of optimism. Luxury real estate could reach May 2008 levels by 2012, up to two years earlier than expected.

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Tags: bank, banker, bankers, banking, banking sector, BankingSector, Chelsea, hedge fund, Hedge Fund Managers, Hedge funds, HedgeFund, HedgeFundManagers, HedgeFunds, kensington, knightsbridge, london, London England, LondonEngland, luxury real estate, LuxuryRealEstate, real estate, RealEstate, united kingdom, UnitedKingdom

UBS Loses Fiat/Chrysler and Shell Oil CEOs from Board of Directors

by Noah Joseph (RSS feed) —

In today's economy, few industries are hurting as much as automobiles and finance. And while there are more than a few shining stars working on fixing both, by and large they're not the same people. Against this backdrop, the chief executives of Fiat and Chrysler on the one hand and Shell oil on the other are stepping down from the board of Swiss banking giant UBS.

Sergio Marchionne, who is currently serving simultaneously as CEO of both the Fiat and Chrysler automotive groups – including the Alfa Romeo, Lancia, Fiat, Dodge, Chrysler and Jeep brands, among others – was touted as a potential candidate for chief executive of UBS, and currently serves as its vice chairman. Royal Dutch Shell CEO Peter Voser, meanwhile, rose to his current rank after several years as its chief financial officer. But with Fiat, Chrysler and Shell all in the midst of comprehensive restructuring plans, neither Marchionne nor Voser have the time and energy to be supervising UBS AG's restructuring as well.

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Tags: bank, board, board of directors, BoardOfDirectors, peter voser, PeterVoser, sergio marchionne, SergioMarchionne, ubs, ubs bank, ubs board, UbsBank, UbsBoard

Diamond VIP Credit Card

by Rigel Celeste (RSS feed) —

The Eurasian Bank in Kazakhstan has come up with a very glamorous way of honoring their VIP members: they're issuing them limited edition VISA cards embedded with diamonds and accented with gold.

Said to be the first of its kind in the world, the card is reserved only for the elite few members of the bank that have incomes of $300,000 a year or greater. The cards have an elaborate gold filigree design in the shape of a heart that features a 0.02 carat diamond in the center.

Crazy.

Via Bornrich

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Tags: bank, credit, credit card, credit cards, CreditCard, CreditCards, kazakhstan, visa