Thousands take part in the 28-degree Bupa London run May 27, 2012 AFTER two months of incessant rain, wind and unseasonable cold temperatures, more than 10,500 runners sweated it out yesterday in 28-degrees heat in the Bupa London 10,000 metres. “After training in rainy April, this was quite a shock,” Nick Fox, Sir Richard Branson’s head of communications told The Capitalist. “I like running these races, it [...]
JP Morgan to replace prime brokerage boss May 27, 2012 JPMORGAN Chase & Co is replacing its global prime brokerage chief Lou Lebedin just two months after he took over the job alone. He is to be replaced by London-based Teresa Heitsenrether, 47, who has been the co-head of JPMorgan’s fixed income brokerage since 2008. Lebedin, a 54-year old former Bear Stearns executive based in [...]
Thousands of job cuts set for Blackberry May 27, 2012 BLACKBERRY maker Research in Motion is this week expected to reveal thousands of job cuts as the firm tries to make up lost ground following a string of changes at the top. The Canadian firm said at its last results that it hoped to stem costs, and reports last night put the expected cuts at [...]
LOVE CONQUERS ALL AT CANNES May 27, 2012 Austrian director Michael Haneke has won the Cannes film festival’s top prize for the second time as “Love” was named winner of the Palme d’Or. Haneke previously won the award in 2009 for The White Ribbon. British director Ken Loach collected the Jury Prize for “The Angels’ Share”. “Love”, or “Amour” focused on an elderly [...]
Firms call for state aid to cut infrastructure risks May 27, 2012 VITAL infrastructure projects could be given the lift they need to get off the ground if the government uses small, targeted amounts of cash to reduce risks at the star of a project, according to a report out today from the Confederation of British Industry. The business group believes private investors such as pension funds [...]
Manufacturers see borrowing levels improve May 27, 2012 ACCESS to credit has improved in the last two months, according to research out today from manufacturers’ organisation EEF. However, borrowing costs are rising despite the government’s efforts. Its National Loan Guarantee Scheme, launched at the end of the first quarter, was supposed to reduce costs but does not yet appear to have had an [...]
Peer wants UK to help more entrepreneurs May 27, 2012 THE UK would have almost a million additional businesses if it set up firms at the same rate as Americans, Lord Young has claimed in a government-commissioned report. Despite the UK having the lowest barriers to setting up a firm in the whole OECD, it does not have the highest rate of entrepreneurship. “It is [...]
Top homes hit record high prices May 27, 2012 The average asking price for prime properties in the UK is at an all-time high following a 0.9 per cent increase last month, according to data out today from PrimeLocation.com. The asking price for the top 25 per cent of houses now averages £478,797, up 4.8 per cent or £21,756 on the year. Prime London [...]
China opens up bank industry May 27, 2012 China will give private capital the same entry standards to the banking industry as other capital, state media said yesterday, as the government makes its hardest push in a decade to court private investors by welcoming them into a handful of sectors. Private companies would be allowed to buy into banks through private stock placements, [...]
Queen is said to add £44bn to UK economy May 27, 2012 A BRANDING company has claimed that it can put a value of £44bn on the British monarchy. The calculation values the sovereign’s annual contribution to the British economy and then estimates the net benefit “into perpetuity”. The £44bn includes “intangible” assets, such as the boost to tourism and goods given a royal coat of arms, [...]
