London ranked world’s best for business and innovation October 9, 2014 LONDON has topped a survey measuring attractiveness for innovation and business and a host of other metrics. In yet another feather in the capital’s cap, Japan’s Global Power City Index saw London retain its place at the top, beating other global power hubs such as New York and Tokyo. The index ranks the world’s major [...]
£13.4bn raised in City listings October 9, 2014 BUSINESSES wanting to raise capital are increasingly looking to the London stock market, with the total funds raised from initial public offerings (IPOs) during the first nine months of 2014 reaching £13.4bn, according to research released today. The figure is nearly triple the £4.7bn raised in the same period in 2013, according to PwC’s IPO [...]
Canary Wharf Group recoups $350m October 9, 2014 Canary Wharf Group has reached a $350m (£217m) settlement with the liquidators of Lehman Brothers over rent owed after the collapse of the bank in 2008. Lehman Brothers rented 25 Bank Street in Canary Wharf, which is now owned by JP Morgan.
Aim’s biggest champs flock to Old Billingsgate for PwC awards night October 9, 2014 It was the heroes of the junior market’s turn for a night on the tiles last night, as the annual PwC Aim awards descended on Old Billingsgate. Team Shore Capital were there in force as sponsors of the transaction of the year award. The excitement of the gongs aside, it had been quite the day [...]
Anya Hindmarch tells BCC conference: “I fire myself at the end of each working day” October 9, 2014 At the British Chamber of Commerce (BCC) conference yesterday, handbag designer Anya Hindmarch let everyone into a few trade secrets. For a start, she has a graffiti painting behind her desk which reads, “scary.” It’s not just a warning to her staff to get her coffee order right, it also reminds her that scary is [...]
British government to issue first ever Chinese-currency bond as Treasury aims to raise 2bn renminbi October 9, 2014 George Osborne yesterday hired Standard Chartered, HSBC and the Bank of China to find investors for the British government’s first ever Chinese-currency bond. The exact sum has not been disclosed, but the Treasury is expected to try to raise 2bn renminbi (RMB) – £200m – in the issue, known as a dim sum bond. [...]
US jobs data to calm nerves of policy makers October 9, 2014 THE US labour market continues to show improvement with the number of new claims for jobless benefits falling last week, coming close to its lowest level for 14 years. Initial claims for unemployment benefits fell by 1,000 to 287,000, according to data released yesterday by the US Department of Labor. The figures beat expectations. It was [...]
House price rise cooling October 9, 2014 FURTHER evidence has emerged that the housing market cooled down in August. The Council for Mortgage Lenders, a trade association, reported that the number of loans for house purchase fell by 3.3 per cent in August. This remains 7.9 per cent above August 2013, however.
Ex-Ofcom boss Dame Colette Bowe hired to keep tabs on bankers October 9, 2014 Dame Colette Bowe was appointed yesterday to head the new Banking Standards Review Council (BSRC), a body which aims to promote and maintain good behaviour in finance. The council was set up by former CBI chief Sir Richard Lambert, at the behest of the big banks, as an independent body to monitor behaviour in [...]
Old Mutual gets low price for its US share sale October 9, 2014 OLD MUTUAL is set to raise $308m (£190m) from the initial sale of shares in its US asset management business, more than $20m less than it had hoped to raise in the offering. The shares were priced at $14, below the $15 to $17 range it had hoped to achieve for the 22m shares on offer. The [...]