RBS to quit its 199 Bishopsgate office by end of the year October 10, 2010 ROYAL Bank of Scotland will vacate its Bishopsgate office, while a second lease on its Regent’s House building hangs in the balance. The bank is scaling back its property portfolio as it prepares to shed thousands of jobs. It is understood RBS will leave 199 Bishopsgate before the end of the year. It will keep [...]
Fresh austerity drive for Ireland October 10, 2010 Ireland will seek savings well above an initial target of €3bn (£2.6bn) in its 2011 budget, finance minister Brian Lenihan said yesterday. Ireland is under pressure to demonstrate it can shrink the worst budget deficit in the EU to allay concerns the former “Celtic Tiger” economy may need external assistance to shore up its finances. [...]
Women missing out on careers October 10, 2010 Middle-aged women are sacrificing their careers because they are acting as unpaid carers, according to a new study by the Equality and Human Rights Commission. Often women go straight from caring for children to looking after an elderly parent, effectively crushing any hopes for a successful career. It also has a negative impact on women’s [...]
GUINNESS TO PUSH FOR US EXPANSION October 10, 2010 Guinness, part of the Diageo empire headed by Paul Walsh (above), will embark on an advertising rally in the US as it attempts to bolster its sales there. It will introduce two new versions of its iconic black stout as well as launching a sports-themed advertising campaign to run on channels including Disney-owned ESPN.
Potash plans break up to avoid BHP bid October 10, 2010 POTASHCORP, the Canadian chemicals giant, is believed to be working on a potential break up of the company as one way of fending off a $38.6bn (£24.1bn) hostile bid from the mining company BHP Billiton. The plan is among several strategies being worked on at Potash – whose advisers include RBC Capital Markets, Goldman Sachs [...]
BCC: keep spending to help businesses October 10, 2010 THE government should protect spending on transport and press ahead with a superfast broadband network even as it makes swingeing cuts, the British Chambers of Commerce (BCC) has said. In a submission to the Treasury ahead of the comprehensive spending review (CSR) next week, the BCC said the government should prioritise public spending that supports growth [...]
London named as best European city for real estate investment October 10, 2010 LONDON has been named the most attractive European city for real estate investment, knocking Munich out of pole position. In the annual European regional economic growth index, compiled by LaSalle Investment Management, the capital emerged victorious, while all other UK cities were close to, or in, the bottom half of the table of 104 European [...]
Kerviel says his losses cut SocGen’s tax October 10, 2010 SOCIETE Generale omitted to tell the courts it used Jerome Kerviel’s €4.9 bn (£4.3bn) trading loss to reduce the French bank’s tax bill by €1.7bn, Kerviel’s lawyer alleged yesterday. The French bank rejected the claim, arguing the tax treatment of Kerviel’s loss was made public and met fiscal rules. The bank’s former trader Jerome Kerviel [...]
Senior bankers work together in talks with government over bank bonuses October 10, 2010 SENIOR bankers have been lobbying the government and regulators not to disadvantage the UK on the international stage over the issue of bank bonuses. The group led by Barclays chairman Marcus Agius, Sir Philip Hammond, chairman of Royal Bank of Scotland (RBS) and Barclay’s outgoing chief executive, John Varley, are believed to be lobbying global [...]
Savoy Hotel reopens doors after revamp October 10, 2010 LONDON’S most iconic hotel, The Savoy, reopened its doors yesterday after being closed for three years and receiving a £220m refurbishment. In its heyday, the Strand-based Savoy was considered a hot spot by City folk, who flocked to the hotel’s famous Grill to close deals and entertain clients. The hotel was also known for its [...]