Massenet to chair British Fashion Council September 5, 2012 NET-a-Porter founder Natalie Massenet has been appointed to chair the British Fashion Council (BFC), replacing Harold Tillman, who has held the position since 2008. Massenet sold a stake in Net-a-Porter to Swiss luxury group Richemont earlier this year.
Battersea plans move closer as owners move in September 5, 2012 THE NEW Malaysian owners of Battersea Power Station revealed yesterday that work on the £8bn scheme is set to get under way this year after completing the purchase of the historic site. SP Setia, Sime Darby and the country’s Employees’ Pension Fund – officially took ownership of the site yesterday after paying £400m to buy [...]
City Views | What do you think of the reshuffle? September 5, 2012 MATTHEW ARGENT JEFFERSON YOUNG Based on public opinion and not necessarily his record I was surprised Osborne kept his job. A fresh face in the higher ranks of the government would have been good. But I would still have him over Ed Balls any day. DJAMOL ARIPOV LONDON BRAND MANAGEMENT I’m surprised about the government [...]
Double-dip for Eurozone as it slumps again September 5, 2012 THE EUROZONE economy suffered an even more severe downturn in August than at first thought, survey data from Markit revealed yesterday. The initial “flash” purchasing managers’ index (PMI) for euro area economic output in August was 46.6, marginally up on July’s 46.5 – but yesterday’s figure was 46.3. Any figure below 50 indicates contraction. Activity [...]
Ireland sees shop sales surge as crisis-hit Spain suffers fall September 5, 2012 RETAIL trade slipped in the Eurozone in July, down from a slight increase in June, official Eurostat data revealed yesterday. The total volume of retail trade fell 0.2 per cent across the 17 euro area countries, having increased by 0.1 per cent in June. Though this overall picture was fairly flat, it hid a 0.9 [...]
Pocket money squeezed in slump September 5, 2012 The amount children receive each week in pocket money has fallen back this year, after recovering from 2010’s seven-year low in 2011, a survey showed today. On average, children are given £5.98 a week by their parents, down from last year’s £6.25, Halifax said in it is annual pocket money survey. But children in London [...]
Narrow money continues to grow September 5, 2012 Narrow money continued its steady growth into August, Bank of England data revealed yesterday. There were 0.4 per cent more notes and coins sloshing about in the economy this month, compared to July, putting the total supply 5.1 per cent up on August last year. Simon Ward, economist at Henderson, told City A.M. that healthy [...]
Indian banks hit by bad loans September 5, 2012 Indian banks are being hammered by large numbers of non-performing loans (NPLs), Fitch revealed yesterday. Cumulative gross NPLs at the biggest five Indian banks, who together control around a third of the banking system’s total assets, rose 62 per cent in loans maturing in quarter one 2013, compared to quarter one 2012.
Life in the City all mapped out for you September 5, 2012 YOU work there everyday, and probably spend more time surrounded by its office buildings than your own four walls, but how much do you really know about the Square Mile? A lunchtime trip to the Walbrook Building on Cannon Street this week might help you find out, as until Saturday it’s home to an exhibition [...]
London’s most useful Wenlock up for grabs September 5, 2012 FOR those of you who missed out on the chance to snap up City Gent Wenlock when the auction closed last week, worry not. Though lots in the auction are going fast there are still around 10 mascots left – including surely London’s most useful legacy mascot, covered in print from the capital’s famous A-Z [...]
