Bank guidance gets thumbs up as more firms predict rate hikes March 17, 2014 NEARLY 40 per cent of firms expect an interest rate hike in the next year, and the Bank of England’s forward guidance policy has helped to lift confidence in the economic recovery, according to Markit. A survey from the data firm shows that 39 per cent of firms expect a rate hike in the next [...]
From fast food to fasting: Osborne’s austerity diet March 17, 2014 LAST year his Budget preparations included a calorie-stacked Byron burger, wolfed down with a side of chips. But Chancellor George Osborne is unlikely to be chomping on fast food as he prepares for Wednesday’s big speech. Proving he has a head for figures – not least his own – Osborne last month took up the [...]
Dr Who to face ultimate terror: a baddie banker March 17, 2014 AFTER battling the galaxy’s most ruthless, evil and soulless creatures, what further terrors are there left for Dr Who to face? Stephen Moffat, the BBC series’ executive producer was clearly casting closer to home when he created the Time Lord’s newest nemesis: baddie banker Ms Delphox. Played by Line of Duty star Keeley Hawes, Delphox [...]
Three things you didn’t know about… March 17, 2014 Neil Bennett, chief executive of PR group Maitland 1 Neil, City A.M.’s wine columnist and a former journalist, was once photographed for the Times with a lampshade on his head. The shoot was for a feature on DIY. 2 Bennett, an intrepid long-distance runner, has completed 15 marathons on four continents. He finished the 56-mile [...]
FTSE chairman Gareth Davis tells us why he’s in no rush to retire March 17, 2014 Serial chairman and former tobacco boss Gareth Davis tells Elizabeth Fournier how he juggles three FTSE-listed firms THE ROLE of a company chairman is a tricky one. As head of the board, a good chair is expected to lead from the front; hiring, firing and managing its members, while keeping one eye on governance and [...]
Caracal unveils £1.08bn merger with TransGlobe March 17, 2014 AFRICA-FOCUSED oil explorers Caracal Energy and TransGlobe yesterday said they have agreed to a $1.8bn (£1.08bn) merger, which will create the third largest independent oil producer in Africa. The deal will expand FTSE-listed Caracal’s reach beyond Chad into Yemen and Egypt and add a lower-risk drilling programme to its portfolio. The newly merged company will [...]
Essar takeover battle rumbles on as board rejects founders’ offer March 17, 2014 ESSAR Energy’s independent board committee has accused the majority shareholder of undervaluing the embattled power firm with its takeover offer, and is urging minority stakeholders to reject the bid. Essar Global Fund (EGF), which is controlled by the firm’s billionaire founders the Ruia brothers, had offered 70p per share for the remaining 22 per cent [...]
UK mutuals investor Capital for Colleagues starts trading today March 17, 2014 CAPITAL for Colleagues, an investment vehicle that focuses on opportunities in the employee-owned-business (EOB) sector, will today start trading on the London-based ISDX growth market, having raised £2.19m. The firm will have a market capitalisation of £3.25m on listing. “The company’s clearly defined strategy aims to provide capital and practical assistance to both current and [...]
City watchdog doubled dawn raids last year March 17, 2014 DAWN raids on suspects in frauds and other finance crime cases have almost doubled in the last 12 months, according to a new analysis of the Financial Conduct Authority’s (FCA) actions. The City watchdog carried out 20 such raids in 2013, according to law firm RPC, up from 11 in 2012. The jump in searches [...]
HMRC steps up asset seizures to pay VAT bills March 17, 2014 THE NUMBER of businesses who have had assets seized and sold by HM Revenue & Customs to settle overdue VAT bills has soared during the recession, according to data obtained by finance provider Syscap. Figures sourced from HMRC show that 3,657 businesses had assets seized last year after being served distraint orders by the taxman, [...]