BILL OF THE WEEK December 6, 2009 A BIT of an unusual one this week from the St Pancras Grand Champagne Bar, whose proprietors must have been rubbing their hands together with glee after a City commuter got carried away before his journey home recently. Having stopped by for refreshment, the chap in question spied a Dom Perignon vintage 1995 white gold [...]
Spencer: ICAP will leave if Labour regains power December 6, 2009 INTERDEALER broker ICAP has warned it may move its domicile from the UK to a more competitive tax jurisdiction if the Labour party wins the 2010 general election. Chief executive Michael Spencer, who is also treasurer of the Conservative party, said the prospect of higher taxation could push the trading giant to find an offshore [...]
UK to lose top economy rank December 6, 2009 THE UK is set to slide out of the world’s top 10 economies by 2015, according to the Centre for Economics and Business Research (CEBR). Although the International Monetary Fund and World Bank both ranked the UK sixth in 2008 based on GDP, the CEBR reports that this year the country fell behind Italy to [...]
France says Britain’s banks must not go back to old ways December 6, 2009 There is no crisis between France and Britain over financial regulation but British banks must not be allowed to return to the behaviour that caused the crisis, French budget minister Eric Woerth said yesterday. President Nicolas Sarkozy stirred tensions between the two countries last week by boasting that the appointment of a Frenchman as the [...]
SILVERSTONE IN POLE POSITION December 6, 2009 The British Grand Prix has been saved at Silverstone after a deal was reached yesterday between Bernie Ecclestone and track owners the British Racing Drivers’ Club. Damon Hill, president of the BRDC, is today expected to announce the Silverstone as host for at least five years. With the 2010 season imminent, Ecclestone threatened to pull [...]
Fall in number of employment disputes as economy stabilises December 6, 2009 A SUDDEN drop in demand for employment dispute lawyers has boosted hopes of a return to better economic times in the UK. According to Contact Law, the first nine months of the year saw demand for employment lawyers rise 77 per cent as the recession fuelled demand. But in November a 7.4 per cent decrease [...]
Rising stars ofCity fight off the downturn December 6, 2009 ONE hundred of the City’s most precocious young stars have been honoured in a round-up of the hottest names to watch in the world of finance over the coming year. The list of 100 Rising Stars, compiled by Financial News, includes Goldman Sachs emerging markets trader Jan Sramek, who at the tender age of 22 [...]
M&B rebel fights corner as row grows December 6, 2009 THE largest shareholder in pubs group Mitchells & Butlers will meet with the Takeover Panel today as the furore grows over the company’s decision to oust four directors. Piedmont, which owns 23 per cent of M&B on behalf of billionaire Joe Lewis, wants to put its side of the story after its representatives Richard McGuire [...]
Six more banks are closed by US regulators December 6, 2009 MORE American banks failed over the weekend, bringing the total for the year to 130, which is the highest since 1992. Of the six failed banks, the largest to be closed by regulators was Cleveland’s AmTrust Bank, whose 66 branches and $8bn (£4.9bn) in deposits will be assumed by New York Community Bank. AmTrust is [...]
BEST OF THE BROKERS December 6, 2009 WM MORRISONGalvan Research says that plenty of time has now elapsed at Wm Morrison to allow the shares to absorb any doubts over a possible like-for-like sales slowdown, and the surprise departure of Marc Bolland. It says the stock is holding up well within striking distance of year highs, and there is every likelihood the [...]
