Dyke snubs top job at Channel Five August 15, 2010 GREG Dyke has snubbed a move to Channel Five, which is undergoing a major shake-up under new owner Richard Desmond, according to industry sources. City A.M. understands Desmond had sounded out Dyke for the top job after chief executive Dawn Airey announced she would quit the broadcaster. But Dyke, who helped launch Five in 1997, [...]
GE looks to move in on UK bank sector August 15, 2010 US CONGLOMERATE General Electric (GE) is planning to launch an internet bank in the UK. The financial arm of the firm, GE Capital, has already set up an internet bank in Germany, titled GE Direkt, and is hoping to join the ranks of the newcomers on the UK banking scene within 18 months. US-backed Metro [...]
Russian grain ban fuels fears of food price inflation August 15, 2010 CONCERNS over sharply rising food prices were stoked yesterday as Russia, the world’s third largest wheat seller, brought in an emergency ban on grain exports. Experts said the price of bread could shoot up by ten per cent after Prime Minister Vladimir Putin said the government had banned grain exports until 31 December. Putin said [...]
CITY MOVES | WHO’S SWITCHING JOBS August 15, 2010 Sacker & Partners The pensions law firm has promoted Emily Forrest and Zoë Lynch to partner and Arshad Khan to associate director. Forrest has been at the firm since 2002, while Lynch joined in 1998. Khan, pictured, is a member of the dispute resolution unit, including trustee applications for directions, rectification actions and claims for [...]
C Hoare clocks up record profits August 15, 2010 Private bank C Hoare & Co reported a jump in profits of 62 per cent last year to £24m. The bank’s deposits rocketed 13 per cent to £1.9bn as it bounced back strongly from the financial crisis. Chairman Lord Wilson of Dinton said: “As a policy matter the bank chooses not to enter into a [...]
Rok chief dismisses Connaught parallel August 15, 2010 THE chief executive of beleaguered construction firm Rok hit back at the weekend at comparisons between his company and social housing group Connaught, which has seen its share price collapse in recent weeks after a shock profits warning. Rok boss Garvis Snook told a Sunday newspaper that the two firms’ respective woes are “two totally [...]
Property price slide starts to feed through to companies August 15, 2010 RENEWED weakness in the housing market pushed more real estate services companies to the brink in July, according to the latest monthly City A.M./Begbies Traynor health monitor for the Square Mile. As economists look to September as the “crunch time” for Britain’s struggling property sector, our survey shows 945 firms across London including estate agents, [...]
Investors fail to see light as trading drops August 15, 2010 INVESTOR confidence has crumbled to its lowest ebb for eight years, according to a bleak market analysis released today. The grim data shows the value of shares traded this year has plummeted as the UK’s recovery from recession remains on a knife edge. The turbulence from the economic crisis triggered by the collapse of Lehman [...]
ANALYST VIEWS? WHAT DOES THE LACK OF ACTIVITY IN THE MARKET MEAN FOR THE ECONOMY AS A WHOLE? August 15, 2010 JEREMY BATSTONE-CARR | CHARLES STANLEY “These figures represent very accurately what has been going on in the market. Recent economic data that has been issued showing an upturn is a false dawn. Investor confidence is very weak and I do not accept that things are getting that much better. Trading has been poor and the [...]
Betfair to launch its own trading system August 15, 2010 ONLINE gambling group Betfair is gearing up to launch a trading platform in London later this year, becoming the latest in a line of companies to compete with the London Stock Exchange. Following approval from the FSA at the end of July, developers are working to complete the platform based on Betfair’s existing gambling programmes, [...]