UK pension pot values slumped again in July August 16, 2010 THE VALUE of the nation’s pensions has continued to tumble in the past month, with the average 30-year-old losing £518 from their annual pension income in the last four weeks alone according to recent figures. The average 65-year-old is left with £7,666 a year, according to Aon Consulting’s monthly pension tracker, which is half the [...]
CITY MOVES | WHO’S SWITCHING JOBS August 16, 2010 Daiwa Capital Markets Hetal Mehta, a former senior economic adviser to the Ernst & Young ITEM club, has joined the Japanese brokerage’s investment banking arm as its new UK economist. Mehta joins from Oxford Economics and has also previously worked at HM Treasury and in the office of the deputy Prime Minister as a policy [...]
finance boss in the wars after hitler gag August 16, 2010 AS A hack, it gets frustrating to be confronted with a deafening silence when asking any financier to stand up and publicly defend the industry against politically-motivated attacks – especially when the same hotshots are perfectly happy to shoot their mouth off when cornered in private. But, refreshing as it is to find an exception [...]
Hiring drive in City boosts Michael Page August 16, 2010 RECRUITMENT group Michael Page yesterday reported booming profit growth over the first half, driven by a strong performance across its global divisions and by an explosion in demand for City workers in the aftermath of the financial crisis. Chief executive Steve Ingham said recruitment activity in the City has now been rebounding for several consecutive [...]
BRASSERIE BLANC FOCUSES ON LE PUB August 16, 2010 THE private equity firm behind Brasserie Blanc, Core Capital, said it will launch the White Brasserie Company which will focus on gastropubs. It will start by opening the Queen’s Head in Weybridge, Surrey, and the King’s Head in Teddington, Middlesex. Raymond Blanc (above) is the chef behind Brasserie Blanc.
Afghanistan looks for partner after discovering 1.8bn barrel oil field August 16, 2010 AFGHANISTAN is looking for a commercial partner after it discovered an oilfield with an estimated 1.8bn barrels in the north of the war-torn country. The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by Afghan and international geologists, according to Jawad Omar, a spokesman for the ministry [...]
Mall owner disposes of four sites August 16, 2010 THE Mall Fund, a major investor in shopping centres in the UK, yesterday offloaded four sites for £135.9m. The fund, set up by Capital & Regional and Aviva Investors in 2002, sold the shopping centres to clients of Rockspring Property Investment Managers as part of its drive to cut debts. The Liberty 2 Shopping Centre [...]
Balfour gets US rail contract August 16, 2010 Construction firm Balfour Beatty has won the contract for a £560m commuter rail project in the US. It said it had closed the deal for the design, build and operation of the Eagle P3 project in Denver, beginning later this month. The FTSE 250 firm will be responsible for a 50 per cent share of [...]
Brewer defends S Africa share August 16, 2010 SABMiller aims to protect its 90 per cent market share in South Africa from rival Heineken, the head of the brewer’s South African unit said yesterday. The world’s second-largest brewer was also confident it had a solid case against South African charges of violating anti-competition laws, managing director Norman Adami said. London and Johannesburg-listed SABMiller [...]
Misys sells off AllScripts stake August 16, 2010 A subsidiary of software firm Misys has announced it is selling 25m shares on behalf of its parent company and majority shareholder. Misys is selling to reduce its majority stake in AllScripts-Misys Healthcare Solutions as part of an agreement between the two, in preparation for AllScripts’ pending merger with Eclipsys Corporation. There is also an [...]