Hutchings makes Lupus exit July 1, 2009 THE entrepreneur Greg Hutchings yesterday stood down from his executive chairman role at Lupus Capital, the group he founded in 2004 to invest in building materials and construction-related businesses, as it renegotiated its banking facilities. Lupus has for some months been struggling because of its exposure to the moribund housing market and has been weighed [...]
When the going’s tough, the City goes shopping June 28, 2009 SIR Stuart Rose has recently waived more than £1m worth of Marks & Spencers share options, and could come under more pressure at this week’s annual meeting. Discount retailers like Aldi and Lidl have just announced a slowdown in growth, while on TV Mary Portas has moved from advising high street stores to charity shops. [...]
THE TIPSTER OIL PRESSURE COULD DRIVE PRICES UP June 28, 2009 OIL stocks have been finding their way into many portfolios recently, with US crude back above $70 per barrel and the threat of further disruption in Nigeria helping to support prices. New problems at Gazprom and in the Ukraine could mean further unease in the energy sector, and prices could rise further as we move [...]
Regeneration is taking off in the Olympic quarters June 25, 2009 STRATFORD has long been one of those London areas that is supposedly on the verge of gentrification. The coming of the DLR, then the Jubilee Line, were meant to turn it into an up-and-coming area attractive to thrusting young professionals. It never quite happened. But last week, two things took place which mean that Stratford [...]
CITY MOVES WHO’S SWITCHING JOBS June 23, 2009 AvivaMatt Saker is to join the savings, investment and insurance group as its new chief actuary for Europe. Saker joins from Watson Wyatt, where he worked for over 18 years, becoming a partner in 2003. In his new role, he will be responsible for capital management, life and general insurance reserving and market-consistent embedded value [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 23, 2009 FINANCIAL TIMES GCL-POLY TO BUY SOLAR ASSETS FOR $3.4BNGCL-Poly Energy, a Hong Kong-based power plant operator, said yesterday it would pay HK$26.4bn (£2bn) to acquire solar assets from its chairman as it seeks to expand in the green energy sector. The company said it would buy Jiangsu Zhongeng, a supplier of polysilicon and wafers used [...]
CITY MOVES Who’s switching jobs June 22, 2009 AvivaThe insurance group has appointed Jon Bunn as its new corporate affairs and communications director in Europe. Bunn will report to Andy Moffat, Aviva’s director of human resources in Europe. He was previously group public relations director at Prudential, and before that was director of media relations at accountancy firm PricewaterhouseCoopers. He began his career [...]
London still number one for retail June 18, 2009 London continues to dominate the European retail landscape, rated number one in a new poll out today by Experian and Jones Lang LaSalle in terms of consumer spending and prime retail rents. But outside London, other UK retail rents are now falling below European competitors due to currency exchange rates.
WHAT THE OTHER PAPERS SAY THIS MORNING June 18, 2009 FINANCIAL TIMES GLENCORE WEIGHS UP FLOATATIONGlencore, one of the world’s largest private companies had held preliminary talks with bankers about an initial public offering as it reviews its partnership structure, to a person familiar with the company. While an IPO is not is not considered imminent, a move into the public spotlight would mark a [...]
King crushes Darling at Mansion House June 17, 2009 ON the face of it, last night’s Mansion House dinner was a typical, formal City occasion, with the black tie-clad great and good of the business community turning up in their usual numbers. But there was little of the good-humour and wry amusement that usually accompanies such occasions; many of last year’s guests hadn’t been [...]