London house sales rise as stock hits low January 17, 2010 HOUSE prices in London are leading the country higher, according to the latest monthly house price index compiled by Rightmove, the property website. The average price of housing in greater London has risen 2.5 per cent over the past month to £407,731, comparing favourably with a national increase of 0.4 per cent to £222,261. Two [...]
Bankers must highlight skills to rebuild trust January 17, 2010 When people talk about the UK financial services industry they inevitably associate it with the Square Mile. But in fact the industry is spread across the entire country. As Lord Mayor, I take an active role in highlighting the sector’s vital contribution to the broader economy both in London and beyond. My visit to Manchester [...]
Sky vows to fight plans to force it to wholesale premium content to rivals January 17, 2010 SKY yesterday vowed to fight “through every avenue possible” attempts to force it to sell its premium channels to rivals at regulated prices. Media regulator Ofcom is meeting tomorrow to discuss plans to make Sky wholesale its movies and sports channels to competitors like Virgin and BT Vision. It will give a final decision in [...]
Bidders consider making joint offer for GM’s Saab January 17, 2010 LUXEMBOURG investment firm Genii Capital and Dutch sports-car maker Spyker were considering a joint bid for Saab, after weeks of bidding separately for the loss-making car manufacturer. Parent company General Motors began to liquidate the Swedish company last week, saying previous bids were not strong enough to finance Saab in the long term. This is [...]
European property sees upturn January 17, 2010 European commercial property investment rose to its highest level since the start of the financial crisis in the fourth quarter of last year, according to research from real estate consultancy CB Richard Ellis. Over €25.7bn (£22.7bn) of deals were completed in the period, up 42 per cent on the third quarter of 2009 and the [...]
Unilever boss spurns London January 17, 2010 New Unilever chief executive Paul Polman has dealt the government another blow by electing to remain resident in Switzerland rather than relocate to the UK’s less tax-friendly shores. Polman, who recently warned in a speech that British politicians need to recognise the importance of creating a climate “in which businesses can prosper and compete”, was [...]
Avatar to net Ingenious $200m January 17, 2010 James Cameron’s epic sci-fi blockbuster Avatar is set to net media finance firm Ingenious Media a windfall profit of $200m (£123m) if the film goes on to become the highest-grossing film in history as expected. It is thought that Ingenious invested around $75m in the project along with fellow backers 20th Century Fox and Dune [...]
Gloom lifting, say finance professionals January 17, 2010 OVER four-fifths of finance professionals believe the global economy is improving, but many are sceptical about lasting changes in the financial system once the recession is over, according to a survey conducted by business lawyers Norton Rose. Seventy per cent of the 125 financial professionals questioned felt the financial landscape had been changed forever when [...]
Election timing is all as the economy wobbles January 17, 2010 It’s not supposed to be easy being Prime Minister, but even this one must wonder what he did in a former life to incur such wrath. Within a few days of launching election mode yet another miserable attempt at a coup had been made and failed, damaging the Government’s chances of re-election still further. Post [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2010 Charles Stanley The City stockbroking firm has appointed Andrew Atkins as head of new fund sales and distribution. Atkins joins from Lloyd George Asset Management and will be in charge of distributing the firm’s entire fund range, including the new value boutique Matterley, acquired by Charles Stanley last year. In his new role, he will [...]