German bank boss’ support for central Eurozone bond sparks ire September 3, 2014 The chairman and chief executive of one of Germany’s largest banks was in hot water in his home country yesterday, after penning an article in support of centralised bond issuances for the Eurozone. Commerzbank boss Martin Blessing came under scrutiny after expressing the opinion in an article for German business newspaper Handelsblatt. Blessing said that the [...]
ONS revision shows UK financial crisis was not as bad as thought September 3, 2014 THE RECESSION which hit the UK in the aftermath of the financial crisis was less severe than initially thought, and the country returned to its previous peak size at a much earlier date. Revisions released yesterday by the Office for National Statistics (ONS) yesterday showed that GDP dropped six per cent from the first quarter [...]
It’s the Lib Dem Disco! A chance to shake a leg with Nick Clegg September 3, 2014 From the party that promised a free tree for every new born child (sort of) comes perhaps the best political fundraising idea The Capitalist has ever heard. Prepare yourself folks… it’s the Lib Dem disco! That’s right, for £10 a ticket or a bargainous £15 per pair, you too can go on an eight-hour [...]
Walkie-Talkie loses out on Carbuncle Cup ugly building award… for this year September 3, 2014 Ladies and gentlemen, this year’s coveted Carbuncle Cup – the award for the UK’s ugliest building – goes to (drumroll please)… not one of the most nominated buildings, the Walkie Talkie, aka 20 Fenchurch St. Unfortunately, or fortunately – depending on your perspective – the Walkie Talkie could not appear on Building Design Magazine’s list [...]
Lazard poaches Greenhill director September 3, 2014 INVESTMENT bank Lazard yesterday confirmed former Greenhill managing director Richard Hoyle has joined the group. Hoyle, who spent 14 years at Greenhill having joined from Credit Suisse in 2002, has joined Lazard as a managing director at the group’s financial advisory unit. “Richard is a highly regarded advisor, and we expect he will be a [...]
Killik loses Kavanagh after exec departs to set up own venture September 3, 2014 CITY stockbroker and wealth manager Killik announced a major departure yesterday with partner Paul Kavanagh set to leave at the end of this year with two colleagues to set up his own company. Kavanagh, chief investment officer at Killik and chairman of Killik & Co’s capital division, will leave the company on 31 December 2014, [...]
Reed Elsevier to buy security software group September 3, 2014 PUBLISHING firm Reed Elsevier is on the verge of acquiring French anti-money laundering software company FircoSoft after entering into exclusive talks with the group yesterday. Fircosoft, which makes anti-money laundering and sanctions compliance programmes for banks, is co-owned by Rothschild holding company Paris Orleans and buyout group Keensight Capital. A bid could be in the [...]
Ryanair’s passenger numbers soar to a record high in August September 3, 2014 OUTSPOKEN Ryanair boss Michael O’Leary stayed resolutely quiet yesterday as the budget airline announced record monthly traffic. Passenger numbers grew four per cent, from 9m in August 2013 to 9.4m in the same month this year, pushing shares in the group 1.57 per cent higher yesterday to close at €7.39. Marketing manager Kenny Jacobs attributed [...]
City Moves for 04 September 2014 | Who’s switching jobs September 3, 2014 Savills The real estate adviser has announced the appointment of Andrew D Thompson as a director in its London-based building and project consultancy team. He joins from his own independent practice, and has previously held roles at CBRE, Drivers Jonas, and Wilks Head & Eve. Aviva Investors David Lis has been appointed chief investment officer, [...]
Best of the Brokers for 04 September 2014 September 3, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JLT Cannacord has cut its rating from “buy” to “hold”, with the target price falling from 1,165p to 1,070p. The broker believes that the value from US speciality will come through after a forecast period, while its present value depends mainly on margin, [...]