How to look for value in today’s nervous markets June 7, 2009 Whilst it’s hard not to be distracted by the ever changing political story – sterling was driven to a two week low against the euro and weakened three cents against the dollar because of the pressures on the UK government – investors are also having to keep their eye on the growth ball and wonder [...]
BILL OF THE WEEK June 7, 2009 A GROUP of nine City boys arrived at the Mint Leaf Lounge in Angel Court to cool off during that all-too-brief spell of hot, sunny weather last week. They wolfed down the restaurant’s new chilled mango and canteloupe soup, prawn mango salad and scallops, followed by lobster tails, lamb biryani and seabass. But though the [...]
Disastrous for Labour, good for the Tories June 7, 2009 IT was a disastrous night for Labour, and an even worse one for Gordon Brown, now a lame duck prime minister who cannot even appoint the cabinet of his choice. But Labour’s crushing defeat – it got just 21.3 per cent of the vote in London, was beaten in Wales by the Tories for the [...]
Board reshuffle puts pressure on BoA’s Lewis June 7, 2009 BANK of America (BoA) has appointed four outside directors to bolster its board’s banking and financial expertise, after US regulators pushed the nation’s largest bank to improve governance after a federal bailout. The shake-up increases pressure on chief executive Ken Lewis, who was stripped of his role as chairman in April after a surge in [...]
Tube strike still on despite new pay proposal June 7, 2009 LONDON Underground (LU) this weekend renewed its calls for the union RMT to call off a planned strike that will bring chaos to the capital’s transport network from tomorrow evening. Tube workers are set to walk out on strike for 48 hours. LU made a revised four–year pay offer of 1.5 per cent this year [...]
Dairy farmers lose savings June 7, 2009 The Dairy Farmers of Britain (DFOB) co-operative collapsed last week, meaning that many of its 1,800 members, who supplied milk to the co-operative, will lose their savings. The DFOB, which was forced into receivership on Wednesday of last week, sold the milk onto supermarkets, keeping 0.5p per litre itself, and paying the remainder to the [...]
The Apprentice winner Yasmina uncovers the sweet side of Sugar June 7, 2009 Yasmina is excited. Very excited. “It just feels amazing”, she says of her victory. “Phenomenal. Amazing. Great. Ecstatic. You’ve caught me at a good time. I’m in the Apprentice bubble. I’m loving it.” She’s obviously delighted by her win, but not surprised. “Before I met the other candidates in the house I was petrified. I [...]
GPE executives get big bonuses while slump hits profits June 7, 2009 GREAT Portland Estates, the West End property group, has handed out a total £1.3m in executive bonus payouts, despite sinking to a £436m pre-tax loss last year. The property group is expected to face clashes when it meets shareholders at its annual meeting next month. Since the downturn bonuses have been in the spotlight as [...]
There’s value in the City June 7, 2009 LONDON has become the best-value real estate hub in the world, thanks to the severe drop in the value of City of London offices, according to the annual Money into Property report published by consultancy DTZ. DTZ said that the period between 2008 and 2010 will see the worst cumulative returns for UK property since [...]
Deloitte on the touchline as Setanta heads for full-time June 7, 2009 STRUGGLING sports broadcaster Setanta could be forced to go into administration this week, as discussions with investors and rights holders have failed to secure a rescue deal. Accountancy firm Deloitte is on standby to flip the switch on the Irish broadcaster, which has been struggling for months to raise new capital to enable it to [...]