The new British Airways boss says the business is ready for take-off March 20, 2011 IT is time for a fresh start. That was the message from Keith Williams, the new boss of British Airways, as he gave City A.M. his first ever interview since becoming chief executive of Britain’s 37-year-old flag-carrier. One can forgive Williams for wanting to turn a page: his predecessor Willie Walsh, who has moved upstairs [...]
The boss of the UK’s largest broker sees a long road back to recovery March 28, 2011 The chief executive of the UK’s largest independent stockbroker Collins Stewart takes a deep breath and thinks for a moment. After a pause, Mark Brown, who is sitting in his large modern office with floor-to-ceiling views of the City, says: “I think we are about halfway towards getting the firm back to where it should [...]
Credit fears for HMV send shares lower January 19, 2011 SHARES in HMV Group plunged yesterday after the music and book retailer confirmed some of its suppliers have had levels of credit insurance cut. A shadow has been cast over HMV since it issued a profit warning earlier this month with store closures ordered in an attempt to cut costs. The share price sank by [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]
MPs: Labour wasted £1bn on PFI projects December 8, 2010 ALISTAIR Darling, the former chancellor, wasted over £1bn by using the private finance initiative (PFI) to fund a series of vote-winning projects in the run up to the election, according to a report by an influential group of MPs. The Public Accounts Committee found the taxpayer had to pay an extra £1bn for PFI deals [...]
A twenty-first century wine firm, bringing Burgundy’s reds to China February 27, 2011 What is it like to work for a firm with two and a half centuries of tradition at your back? Hew Blair says it “drives you forward,” and his young broking manager Tom Jenkins agrees. The wine merchant Justerini and Brooks, the first wine firm to receive the royal warrant, has provided wines for every [...]
The pensions chief who says that investors are no longer a soft touch January 23, 2011 It is easy to see why the chairman of the National Association of Pension Funds (NAPF) looks more relaxed these days – this coalition government is less keen on beating shareholders over the head. Lindsay Tomlinson is lounging on a sofa in a bright modern office in the NAPF’s headquarters on Cheapside, opposite the recently-opened [...]
UK time bomb as population grows older December 9, 2010 TWICE as many “very old people” (aged 85 and over) are living in Britain compared to 25 years ago, government figures revealed yesterday. And there are now more pensioners than children (under 16), as population ageing takes it toll. Since 1984 the proportion of British people under 16 fell by two per cent, and the [...]
UK time bomb as population grows older December 9, 2010 TWICE as many “very old people” (aged 85 and over) are living in Britain compared to 25 years ago, government figures revealed yesterday. And there are now more pensioners than children (under 16), as population ageing takes it toll. Since 1984 the proportion of British people under 16 fell by two per cent, and the [...]
Why 2011 won’t be too bad after all January 3, 2011 FORECASTING may be a mug’s game but it is unavoidable at this time of the year. So here are a few of my predictions for 2011, together with some key themes to look out for and some lessons from last year. I was right to be sanguine about 2010’s UK growth prospects; the daily warnings [...]