Shaftesbury enjoys West End shoppers August 17, 2009 LANDLORD Shaftesbury said yesterday a record influx of overseas and domestic tourists has boosted tenants in its core West End market. The property firm which owns more than 450 properties in Theatreland, Chinatown and Carnaby Street, said it continued to see healthy demand for its shops, restaurants and residential accommodation. The group said that the [...]
Myerson ousted at own fund August 17, 2009 ACTIVIST investor Brian Myerson yesterday lost his second corporate tussle of the year as shareholders voted to oust him as manager of South African Property Opportunities (SAPO), the fund he set up in 2006. Myerson’s contract with SAPO includes a 12 month notice period, meaning his management agreement will terminate on 20 October 2010. But [...]
WH Ireland still in the red as market storm prevails August 17, 2009 STOCKBROKER WH Ireland yesterday axed its interim dividend as the market turmoil kept it firmly in the red over the first half of the year. The firm reported a pre-tax loss of £0.523m for the six months to end of May, though this narrowed from the £0.736m loss it reported over the same period last [...]
Lack of debt sees private equity deals reach lows August 17, 2009 THE LEVEL of investments being made by the private equity industry plummeted by 80 per cent in the first half of the year compared to the same period last year, dropping to a 12-year low of just $24bn (£14.7bn), research showed yesterday. The figures, by International Financial Services London (IFSL), underscore the restrictive effect of [...]
CITY MOVES WHO’S SWITCHING JOBS August 17, 2009 Cheyne Capital ManagementThe alternative asset manager has appointed Paul Ruddleston and Paul Keohane, pictured, as partners. The pair joins from Morgan Stanley, where they were managing directors and spent a combined 26 years. They will be responsible for managing the Cheyne Equity Macro Fund, along with former colleague and head portfolio manager Jorge Giampaoli, who [...]
Michael Page profits plummet in the slump August 17, 2009 RECRUITER Michael Page said yesterday that profits had been slashed in half in the first six months of the year, but that the jobs market in the UK was showing signs of stabilisation. The FTSE 250 firm said that it had made a pre-tax profit of £43.2m, down 49 per cent year-on-year, on revenues which [...]
Jobs market in the City is beginning to stabilise, says survey August 17, 2009 THE NUMBER of new City jobs dropped by seven per cent month-on-month in July, but still hit its second highest level this year, according to a survey out today. Morgan McKinley’s employment monitor shows that, at 3,528, the number of new vacancies in the financial services sector was second only to June’s figure. “With employers’ [...]
DO MICHAEL PAGE’S RESULTS SPELL BETTER NEWS FOR THE JOBS MARKET? August 17, 2009 ROBERT MORTON INVESTECToday’s announcement covers another very difficult trading period, with activity continuing to weaken across the group. But, as with its peer group, Michael Page’s share price rests on recovery prospects rather than current trading, and we continue to rate the stock a “hold”. PAUL JONES PANMURE GORDONThe results were as expected. In terms [...]
Women graduates win work war August 17, 2009 Women graduates are weathering the financial storm more successfully than their male counterparts, a survey said yesterday. Around one in 10 men who graduated last summer have not found employment, while only 6.5 per cent of women are unemployed. Around 10,000 male graduates have couldn’t find work in the six months after they left university, [...]
Anglo Irish appoints new boss August 17, 2009 Nationalised Irish lender Anglo Irish Bank has appointed Australian banker Mike Aynsley as its new chief executive, the country’s finance minister Brian Lenihan said in a statement yesterday. Anglo, which was taken over by the government in January, has been without a chief executive since David Drumm resigned last December after a string of scandals. [...]
