Five things WPP boss Sir Martin Sorrell said at Cannes June 17, 2014 WPP chief exec Sir Martin Sorrell made an appearance at the Cannes Lions ad industry festival today, talking "state of the industry" at an event hosted by Wunderman. Here are the highlights, as shared by the audience on Twitter. 1. There are no such things as mergers, there are only acquisitions. via @RandomlyRuna 2. No [...]
How Mark Carney’s move from Canada cost the Bank of England over £100k June 17, 2014 The Bank of England paid £102,816 to assist governor Mark Carney and his family in their move from Ottawa, Canada, to London, according to the Bank of England's latest annual report. The ex-Goldman Sachs staffer moved over to the UK with his wife Diana and four daughters last year. He even brought with him his [...]
Siemens woos Hollande over bid to buy Alstom June 16, 2014 EXECUTIVES from Siemens and Mitsubishi are meeting President Francois Hollande today as part of their bid for French engineering firm Alstom. The country’s government has positioned itself as a key player in the acquisition process, forcing would-be buyers to please it as well as Alstom’s shareholders before any sale can go through. Hollande’s intervention first [...]
Boris predicts decade-long tech boom June 16, 2014 LONDON’S tech sector is growing by 5.1 per cent a year and will add another £12bn to the British economy over the next decade, mayor Boris Johnson said yesterday. As London Tech Week began, figures from South Mountain Economics and Bloomberg Philanthropies showed London has more people working in financial technology than any other city [...]
Hawkish Mark Carney sends pound to five-year peak against US dollar June 16, 2014 The pound pushed above $1.70 during trading yesterday, hitting this level for the first time in five years, following Bank of England governor Mark Carney’s hawkish comments last week. On Thursday night, Carney told diners at Mansion House that the Bank’s first post-crisis rate hike could come “sooner than markets currently expect”, a clear departure [...]
Mark Carney – Prepare for a rise in interest rates June 12, 2014 Bank of England governor Mark Carney shocked markets last night by revealing that interest rates might be hiked this year – a stark turnaround from his usual position of talking down the possibility. Addressing an audience of City grandees at the annual Mansion House dinner, the 49-year-old Canadian said the Bank could start to bring [...]
David Cameron: Jean-Claude Juncker election is power grab June 12, 2014 David Cameron has penned a stinging attack on Jean-Claude Juncker’s bid for the presidency of the European Commission, accusing the former Luxembourg leader of attempting “a power grab through the back door”. In an article, which appears in newspapers across the EU this morning, the Prime Minister makes clear that Juncker’s case for election, and [...]
Ships ahoy for Mark Carney at Mansion House Banquet for Bankers June 12, 2014 Mark Carney’s adventurous side came out at the Lord Mayor’s Banquet for Bankers last night in Mansion House. The governor of the Bank of England executed a perfect dive into the white waters of nautical analogies, bravely choosing a canoe as his vessel of choice (so very Canadian). “Rather than appeal to the stately Duchess [...]
Pictures: The Boris Johnson-themed Japanese restaurant at County Hall June 11, 2014 London’s blonde-mopped mayor has had many a tribute to him in the capital; there’s Boris Bikes, there’s the oft-pedalled but as yet inexistant Boris Airport and now we’ve got the Boris restaurant. You might not have put Boris and Japanese cuisine together normally, but County Hall’s Izakaya Boris has. There’s a plastic [...]
Boris and Giuliani do their math June 10, 2014 THE mayor of London and former mayor of New York Rudy Giuliani put their heads together at Tower 42 yesterday, where they both met with the winners of London Count on Us primary school maths challenge. Ten-year-old pupil Azeezat Yusuff of Kender Primary School, in Lewisham, had thrashed Boris in a battle of the brains [...]