British shipping trade booming April 29, 2012 The UK’s sea trade is worth £513bn, equivalent to over a third of the country’s GDP and is set to climb further, according to research out yesterday from the RSA shipping forecast and the Centre for Economics and Business Research. The study predicts trade values will exceed £700bn by 2017, a further 37 per cent [...]
Market problems push up bills April 29, 2012 Inefficiencies in the energy market could mean customers lose out on up to £1.9bn in savings by 2020, the Institute for public policy research (IPPR) warned today. The report argues tougher regulations are needed to improve competition and ensure pricing is fair for consumers. Annual savings of just 2.5 per cent could leave consumers almost [...]
Money for old money at royal sovereign sale April 29, 2012 NEXT WEEK one of London’s oldest coin auction houses will host a sale particularly fitting for the Diamond Jubilee year, as a collection of coins representing the power and glory of Queen Elizabeth II’s predecessors goes on sale. On 8 May the house will sell the first part of the Bentley Collection – a multi-million [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS April 29, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 18 April to Wednesday 25 April. Samsung has done well in our rankings, more or [...]
Private equity rides to rescue of failing firms April 29, 2012 PRIVATE equity firms were once known as Barbarians at the Gate – after KKR’s $25bn leveraged buyout of RJR Nabisco in 1988 was immortalised in a bestseller of that name – but their image has picked up, at least according to one expert. Peter Hemington, M&A partner at BDO, said buyout firms are no longer [...]
Winterflood’s mysterious bash April 29, 2012 IT’S the end of April, which can only mean one thing: it’s Christmas party season for City stalwart Winterflood Securities. The market maker’s festive parties are famed for two things: the vast quantity of alcohol up for grabs, and the yearly theme, with guests being treated to royal wedding, James Bond and school disco knees-ups [...]
ECB faces tricky choice on rates April 29, 2012 APPROPRIATELY, the European Central Bank holds its monthly policy-setting meeting in Barcelona this week. Not that it can do much to ease the pain of Catalan football supporters post Barca’s Champions League exit and the loss of their coach – but at least they’ll get a firsthand account of what’s going on at the frontline [...]
BEST of the BROKERS April 29, 2012 BRITISH LAND JP Morgan Cazenove said it has “taken the plunge” and upgraded the property giant to “overweight” with a price target of 580p, due to its recent share price underperformance compared to peers. The broker thinks British Land could step up to “play Champions League” property development by demerging specialised divisions, such as the [...]
CITY MOVES WHO’S SWITCHING JOBS April 29, 2012 SPC The Society of Pensions Consultants has announced that Roger Mattingly has been elected society president, with effect from 1 June. He succeeds Kevin LeGrand, head of technical services at Buck Consultants. Mattingly is a board director at JLT Benefit Solutions and has sat on the SPC council for the past thirteen years. R3 Lee [...]
NEW YORK WEEK AHEAD April 29, 2012 IT will be another battleground for S&P 500 index this week. Will the bears finally give up and let the bulls have their way? The S&P 500, the market’s broadest measure, managed to close out the week above the psychologically important 1,400 mark for the first time since early April. But the index is still [...]
