Any Other Business – 13/05 March 13, 2014 OUR Mipim spies have brought us more news from the promenades of Cannes. Apparently attendees at the international property gala are desperate to avoid being photographed with a drink in their hands (alcoholic – we’re sure Evian is fine) as they don’t want to be accused of being on a jolly. We’ve heard that at one [...]
Asian markets rise as investors await Chinese data March 13, 2014 Asian markets are making moderate gains after a tepid day on Wall Street and positive regional data helped to calm investors fears after Wednesday's two week low. Markets responded positively to Hong Kong premier Li Keqiang's pledge to head off systemic risks in the financial system. However, investors are remaining cautious ahead of Chinese factory [...]
Scots split plan hit by black hole March 12, 2014 Sinking oil revenues cause deficit to balloon north of the border THE SCOTTISH National Party’s bid for independence was dealt a blow yesterday as fresh figures revealed that Scotland’s deficit has jumped above the level for the UK as a whole, largely due to sinking oil revenues from the North Sea. The data coincided with [...]
Capital’s skyscraper boom set to dramatically change skyline March 12, 2014 LONDON’S skyline is set to change dramatically over the next decade. Over 236 towers over 20 storeys are being proposed, approved or under construction – more than double the number of tall buildings estimated to be in the capital today, according to a new report released yesterday. Traditionally a low-rise city, London’s skyscrapers have, until [...]
London tech stars to share £1.4bn from King.com float March 12, 2014 KING Digital Entertainment, the British firm behind hit mobile game Candy Crush Saga, expects to reach a $7.6bn (£4.5bn) valuation when it lists on the New York Stock Exchange this month, making its senior staff overnight multimillionaires. The company’s 22.2m shares are set to be priced between $21 and $24, according to an updated filing [...]
Bonus hikes help US banks to outbid UK for top staff March 12, 2014 BANK bonuses hit a post-crash high on Wall Street in the latest pay round, official figures showed yesterday, as the recovery boosted traders’ fortunes. Booming pay in the US contrasts with sustained political pressure on British banks who have been cutting back on bonuses in recent years. The average bonus for investment bankers hit $164,530 [...]
Referendum for Crimea spurned by G7 countries March 12, 2014 THE G7 nations will not accept the results of any referendum in Crimea, and has told the Russian government to halt its work on the vote, which is set to take place in three days. In a communique yesterday, the leaders from advanced economies said: “Any such referendum would have no legal effect. Given the [...]
Insurers set to take £1.1bn hit after flooding March 12, 2014 THE WETTEST winter on record and flood and storm damage caused as a result is likely to cost the insurance industry £1.1bn, according to the Association of British Insurers (ABI). A total of 17,500 claims were received in the period between 23 December 2013 and 28 February this year; 9,000 from homeowners, 5,400 for flooded [...]
What the other papers say this morning – 13 March 2014 March 12, 2014 FINANCIAL TIMES HS2 chairman finds £1.5bn savings The new head of HS2 has identified at least £1.5bn in potential cost savings in London alone from the project’s £50bn budget but will warn MPs that the best way to save money on the line is to build it faster than planned. Sir David Higgins took over [...]
Traders paw off Pets at Home as shares fall back March 12, 2014 PETS at Home shares fell by a whisker in initial trading yesterday as the £1.2bn float was left in the shade by a strong debut from fellow high street chain Poundland. Pets, which floated at 245p yesterday morning, ended the day trading around 243p after falling as low as 230p during a rocky start in [...]