Meccano-set towers: how London offices are evolving January 15, 2012 JE ne regrette rien. That is the message from Chris Grigg when we discuss his decision to quit banking in 2008 to take the reins at commercial property giant British Land. At the time, many in the City thought the former head of Barclays’ commercial bank was simply quitting one troubled industry for another; his [...]
Gulf markets hit by Eurozone rate cuts January 15, 2012 DUBAI’S benchmark stock index fell to the lowest level in more than seven years after France and Austria were stripped of top credit ratings. Trading in other Gulf markets also suffered yesterday after S&P also downgraded Italy, Spain and Portugal. Dubai’s benchmark slumped dipped 1 per cent and Abu Dhabi’s benchmark declined 0.7 per cent [...]
BEST OF THE BROKERS January 15, 2012 TED BAKER Numis rates the fashion retailer as a “hold” with a target price of 700p, after a strong performance from the brand over Christmas trading. The broker says this was achieved despite no significant pre-Christmas discounting, but will not be chasing the stock due to a share price of 15x earnings. EROS INTERNATIONAL Investec [...]
CITY MOVES | WHO’S SWITCHING JOBS January 15, 2012 Grosvenor Group Former Morgan Stanley managing director Owen Thomas has joined the board of the global property group Grosvenor as a non-executive director. Thomas was most recently CEO of Morgan Stanley’s Asian operation, chairman of Morgan Stanley Real Estate Investing, chairman of Mitsubishi UFJ Morgan Stanley Securities and a member of the bank’s management committee. [...]
WALL STREET WEEK AHEAD January 15, 2012 US STOCK investors will return to a tug of war between signs of domestic strength and overseas concerns this week as a batch of critical earnings reports look to add credence to the idea the economy is improving, while credit rating downgrades in Europe will keep that region’s difficulties in view. Bank stocks will probably [...]
Helping new businesses to cut away useless fat January 15, 2012 Q. WHAT ARE THE KEY TENETS OF THE LEAN STARTUP? A. The word “lean” comes from lean manufacturing, the system of management that has its origins in Japan with the Toyota Production System. The Lean Startup applies these principles to the process of innovation. Unlike the traditional approach to new product development, The Lean Startup [...]
FAITH IN NEW BUSINESS HAS GONE ABROAD January 15, 2012 IN A worrying sign, UK based entrepreneurs have signalled their lack of confidence in Britain, whereas entrepreneurs worldwide have more confidence in their local economies. This was one of the key messages found in the most recent edition of the Entrepreneurs’ Organization (EO) Global Entrepreneur Indicator, which was conducted in November last year. Twice a [...]
A wake-up call for entrepreneurship in the United Kingdom January 15, 2012 A SIMPLE formula exists for writing about entrepreneurs: humble beginnings + fighting against the odds + eventual success = inspiring story. The fairytale profile certainly has its place, but entrepreneurship is a subject that deserves a bit more rigour. After all, it’s entrepreneurs that help create the future for the rest of us. The significance [...]
With the Eurozone tottering it may be time we signed up for some Norwegian lessons January 15, 2012 NORWAY is indeed a country of good fortune. Post World War II, the quality of living was relatively poor by Western standards, based upon the proceeds of an old-fashioned primary economy. Since the discovery of North Sea oil in the 1960s, this nation of only 4.9m has rocketed to fourth in the IMF’s league table, [...]
Shareholders are accountable for executives’ pay January 15, 2012 BONUS season is always a potentially politically explosive time and this year is unlikely to prove any different. Total bonus payouts across the City are expected to fall steeply this year from £6.7bn in 2010/11 to £4.2bn (roughly a third of the £11.6bn peak before the crisis) but – understandably – this will not prevent [...]
