King of spin Lord Tim Bell apologises for “aggravation” caused by Financial Times interview October 9, 2014 For one of the world’s best known PR men, Lord Bell really should have known better. After reading the interview he gave to the Financial Times yesterday, Bell was clearly inclined to agree. Apologising in a grovelling internal email to staff he concluded: “I am supposed to know how to deal with journalists, friendly or [...]
Carl Icahn says Apple share price could double as tech giant rebuffs demand for buyback October 9, 2014 Activist investor claims the iPhone-maker will soon be worth $1.2 trillion Billionaire investor Carl Icahn urged Apple’s board yesterday to use its $133bn (£82.5bn) cash mountain to buy back more shares, claiming the tech giant’s stock could soon double in value. “We believe Apple is dramatically undervalued in today’s market, and the more shares [...]
Christine Lagarde and Mario Draghi call for German fiscal stimulus to avoid recession October 9, 2014 International Monetary Fund (IMF) boss Christine Lagarde took aim at German policy makers yesterday, suggesting that the Eurozone’s biggest economy must use fiscal stimulus to stave off recession. “We’re not suggesting that the Eurozone is heading toward recession, but we’re saying there is a serious risk that happens if nothing is done. But we are [...]
Tube strike called off as new RMT boss claims concessions October 9, 2014 STRIKE action due to go ahead next Tuesday was called off yesterday following talks between Transport for London, the RMT union and mediator Acas. The strike action was called by the RMT’s new director general Mick Cash. “The RMT has been able to secure significant movement in three key areas which have allowed our executive [...]
Aldermore in US search for funds October 9, 2014 CHALLENGER bank Aldermore, which is trying to raise around £75m in a stock market flotation, is in New York making a last-ditch attempt to raise the funds. Advisers to the bank had hoped to have covered their books in London earlier this week but failed to get enough solid support. The bank has come to [...]
Lord Hill receives Kamall boost October 9, 2014 A LEADING London MEP last night gave his backing to the newly-appointed EU commissioner for financial services, Lord Hill. Syed Kamall MEP told City A.M.: “Lord Hill understands and wants to listen to the City while addressing the excesses of previous years. He will find it tough in Europe initially, but he will serve all 28 [...]
Ebola outbreak: Passengers entering UK will be screened at border October 9, 2014 Passengers entering the UK from Liberia, Sierra Leone and Guinea, all countries at high risk of Ebola, would be screened at the border, the government announced yesterday. The news came as a number of new suspected cases emerged outside west Africa, including a nurse in Australia and a British man in Macedonia. UPDATE: [...]
Exclusive: Barclays recruits staff to complement digital growth October 9, 2014 Barclays is hiring more staff to advise small businesses and exporters, in a change to its plan to automate every service possible, City A.M. has learned. Chief executive Antony Jenkins is pushing to use cutting-edge technology wherever possible to automate processes and cut down on the need to retain an enormous workforce. But the bank [...]
London Stock Exchange in China to drum up new listings interest October 9, 2014 The London Stock Exchange yesterday fronted a new issues conference in Beijing to try to encourage Chinese firms to list in London. The Lord Mayor of the City of London, Fiona Woolf, is leading a City delegation across China this weekend and spoke at the event, which was co-hosted by the China-Britain Business Council. The [...]
Carswell is Ukip’s first elected MP October 9, 2014 Ukip members were last night jubilant but playing down poll predictions of a 30 per cent victory margin for Douglas Carswell in the Clacton by-election. The election was triggered in August when Carswell defected to Ukip and stood down from his Westminster seat.