Jaegar boss Tillman lands Aquascutum September 8, 2009 LUXURY trench coat brand Aquascutum yesterday returned to British ownership after fashion entrepreneur Harold Tillman and Jaegar chief executive Belinda Earl announced a deal to buy the firm. Tillman, famed for his turnaround of upmarket high street store Jaegar, has said he plans to expand Aquascutum in overseas markets. Tillman said: “There are markets where [...]
Banks to need capital, says Ackermann September 8, 2009 DEUTSCHE Bank chief executive Josef Ackermann issued a cautious assessment of recovery in the banking sector yesterday, saying that lenders might still need more capital. Speaking at the “Banking in Transition” conference in Frankfurt, Ackermann said some banks would need to raise new capital and predicted that the real estate market would go through further [...]
Mattioli Woods enjoys jump in pre-tax profit September 8, 2009 SPECIALIST pensions consultancy Mattioli Woods yesterday reported pre-tax profits up 11.3 per cent for the year to the end of May. The Aim-listed firm saw profit before tax jump from £3.71m last year to £4.13m, on the back of a 22.6 per cent rise in revenue from £10.83m to £13.28m. The company is also proposing [...]
The dragon that says the financial services industry is losing its fire September 8, 2009 THERE are over 20 photos of James Caan on the walls of his Mayfair office, excluding the three caricatures. One shows him alongside former President George W Bush and Colin Powell while there is also the obligatory snap of him accepting an honorary degree. Another has him pictured with his co-stars in BBC 2’s Dragons’ [...]
Doing a Fuld might make you happy, but not always popular September 8, 2009 YESZOE STRIMPEL I WAS recently trying to coordinate a weekend out with my parents, who were visiting from the States. I put a lot of plans into the mix – I tried to be a bit flashy, to show them what I could do. Yet despite my best efforts, the whole sequence of events got [...]
When pearls have to pay for house tax September 8, 2009 DEAR VEXED: Dear Vexed, I’m moving house but we’re a little short of money. Should I pawn my jewels to pay for stamp duty? Millie, 31, banker OH dear, things have come to a sad pass, haven’t they? I’m not talking about the fact that money is so scarce you can’t just pay for stamp [...]
OUT OF OFFICE September 8, 2009 STARS AT TOWER FESTIVALThe Tower Festival is upon us yet again: hurry to get tickets for Nigel Kennedy on Thursday – on Friday there’s a Sadler’s Wells extravaganza not to be missed and on Saturday it just gets better with the divine Lesley Garrett and the Fron Male Voice Choir. Let’s hope the weather holds [...]
HSBC and Barclays popular for standing alone September 8, 2009 AYEAR ago this week we experienced “The End of the World as We Know It” as investment bank Lehman collapsed, amid fears of the whole financial system going into meltdown. In the subsequent months I took part in many gloomy debates about whether everything had changed forever, or whether it was just a larger-scale event [...]
Defence and security expo draws rebels September 8, 2009 ANTI-WAR protests hit the capital yesterday, as the world’s largest fully integrated defence and security exhibition got underway. Controversy has hit the event particularly hard this year, as it sees the largest contingent of Libyan arms dealers ever to visit the UK. The show comes soon after the release of the Lockerbie bomber, which sparked [...]
BEST OF THE BROKERS September 8, 2009 MARKS & SPENCERAfter reviewing the autumn merchandise and its own forecasts, Investec raised its full-year 2010 pre-tax profit estimate for Marks & Spencer to £530m, from £475m, based on stronger gross margin progress than in previous guidance. However, the broker believes that some of the margin recovery booked in 2009/10 will make 2010/11 progress harder, [...]