UK economy back to peak in July March 10, 2014 THE BRITISH economy is forecast to grow back to a new peak level during the second quarter this year, according to two pieces of research released today. Accountancy firm BDO and the British Chambers of Commerce (BCC) both say that the UK will finally push past 2008’s GDP levels in summer this year, after years [...]
Employment growth to continue with ongoing regional recovery March 10, 2014 FIRMS are still recording robust business growth in every part of England and Wales, for the 16th consecutive month. In February, Lloyds’ regional purchasing managers’ index (PMI) for England and Wales reached 58.9, with any figure over 50 indicating a majority of firms are reporting growth. The figures also suggest a broad-based recovery, with the [...]
World debt stock lifted to $100 trillion by government deficits March 10, 2014 THE SIZE of global debt markets swelled to over $100 trillion (£59.79 trillion) in the middle of last year, according to a report by the Bank for International Settlements (BIS). The figure has grown from $70bn in the middle of 2007, driven up partly by additional government borrowing in the wake of the financial crisis. [...]
Meet captain Penn, boss of the Baltic Exchange March 10, 2014 With the City sailing through choppy waters, the Baltic Exchange’s boss tells Julian Harris how the shipping industry can lead the way LIBOR-FIDDLING, insider trading, insurance mis-selling, bailout-grabbing… it hasn’t been the best of times for the City’s reputation, of late. Meanwhile, throughout the world, packs of regulators and politicians continue to circle around the [...]
Cook doesn’t need to talk about Kevin March 10, 2014 ALL EYES were on England cricket captain Alastair Cook at the Unibet Long Sporting Lunch, hosted by City A.M. and MBN events at Chiswell St Brewery on Friday. Attempts to get him to talk about sacked batsman Kevin Pietersen were in vain, but luckily ex-England rugby union star Brian Moore was on hand to give [...]
It’s Dr Martens for Whistles CEO March 10, 2014 SMARTLY sartorial Whistles CEO Jane Shepherdson is in the news; she’s been shortlisted for the Veuve Clicquot Business Woman Award and banging the drum for women on boards. But her dress sense hasn’t always been so slick. The CEO admits her outfit of choice when she started out was a “pair of DMs, black tights [...]
Three things you didn’t know about… March 10, 2014 Senior Partner at KPMG Kevin Smith 1 Kevin used to be a drugs officer in HMRC – he joined as a junior and “went straight into the drugs cruise.” He used to take boats to pieces and put them back together again to try and find drugs. 2 He has a 1ft high zombie gnome [...]
Bitcoin investor eyes Albemarle & Bond buyout March 10, 2014 ONE OF the world’s biggest investors in cryptocurrency Bitcoin is eyeing a deal to take control of stricken UK pawnbroker Albemarle & Bond. Fortress Investment Group, a Wall Street fund manager founded by ex-BlackRock executives, is understood to have made a move to buy more than £50m of debt Albemarle & Bond owes to its [...]
Intellectual property company Tekcapital seeking £6m listing March 10, 2014 TEKCAPITAL, the Oxford-based firm that lets its clients invest in university-developed research and intellectual property, this morning announced its intention to list on London’s Alternative Investment Market (Aim) with an initial valuation of £6m. The firm is hoping to raise £3m from the listing to increase its client base, currently seven firms use its services [...]
City Moves for 10 March 2014 | Who’s switching jobs March 10, 2014 Shoosmiths The law firm has appointed Amanda Howlett as a partner in its EU and competition team. She specialises in contentious and non-contentious competition law. Howlett was previously head of competition at Pannone. HedgeGuard The asset management technology company has hired Richard Hutton to its family office business. He has over 10 years’ experience, and [...]