Curbs on Iran’s nuclear activity start next week January 12, 2014 A DEAL for Iran to freeze parts of its nuclear program in return for sanctions relief will take effect on 20 January, giving world powers and Tehran six months to agree a complete end to a standoff that has raised the risk of a wider Middle East war. US Secretary of State John Kerry cautioned [...]
BlackRock backs Bolton against Italian civil suit January 12, 2014 BLACKROCK said it has conducted a full internal investigation and found no evidence to support allegations that fund manager Nigel Bolton is guilty of insider trading. It emerged on Friday that Consob, the Italian securities regulator, had launched civil proceedings against Bolton, a portfolio manager and head of BlackRock Investment Management’s European equity team, accusing [...]
Investment bank Moelis & Co is mulling a public offering January 12, 2014 INVESTMENT bank Moelis & Co is working with Goldman Sachs on a potential initial public offering (IPO), according to reports. The New York-based bank, founded by Wall Street dealmaker Ken Moelis, is assembling paperwork for its IPO, and working on it with law firm Skadden Arps Slate Meagher & Flom and other advisers, the Wall [...]
Morrison resists calls for radical property plans January 12, 2014 WM MORRISON is expected to resist calls by activists for a radical overhaul of its property portfolio, insisting instead that it will make some modest disposals within its freehold estate. In the aftermath of disappointing Christmas trading figures last week the supermarket group has faced demands from some dissident investors to take the knife to [...]
Online fashion giant Asos set to reveal sparkling Christmas sales January 12, 2014 ONLINE fashion giant Asos is set to report a leap in sales of as much as 38 per cent tomorrow thanks to rising demand in Germany and a strong performance in the UK. The online retailer is expected to have bucked the gloom faced by many bricks and mortar retailers this Christmas, with Peel Hunt [...]
Bottom Line: Supermarket needs to focus on web and sales, not real estate January 12, 2014 THE debate being waged over whether Morrisons should sell some of its freehold estate surely misses the point about the grocery chain’s future. There is nothing wrong with the structure of Morrisons’ estate that a little tinkering can not remedy. And it will remain, as it has insisted, “overwhelmingly freehold” – that is as long [...]
Clegg: I would support benefit ban for migrants January 12, 2014 NICK CLEGG would support the principle of a two-year ban on EU migrants claiming benefits, he indicated yesterday. Speaking to the BBC’s Andrew Marr, the Deputy Prime Minister said: “I’m up for establishing a clear principle that says the freedom to move around the European Union to look for work is one thing, but it’s [...]
Labour to focus on smaller firms and sites in new housing plan January 12, 2014 LABOUR’S shadow housing minister Emma Reynolds will announce a new housing policy today and admit that the UK has underbuilt for the last 30 years, including under previous Labour governments. Reynolds will address the National House Building Council, where she will unveil Labour’s Build First policy, a scheme to encourage more competition in the construction [...]
Peter Cruddas joins Business for Britain in January board revamp January 12, 2014 BILLIONAIRE businessman Peter Cruddas has joined the board of Business for Britain, an independent group campaigning for a better deal from the EU. Cruddas is one of eight new board members at the group, headed up by Matthew Elliott, founder of the Taxpayers’ Alliance. Other new faces include Adrian McAlpine, partner at Sir Robert McAlpine; [...]
Building plans not enough to stop shortfall January 12, 2014 THE HOUSING supply crisis in England means the country will have a shortfall of 1m homes in just seven years, with half the needed properties in London and the south east. Countrywide’s quarterly analysis of the housing market, released today, shows how the demand for housing has steadily climbed since the financial crisis. While there [...]