Tenants have rent covered today May 11, 2014 A TYPICAL British tenant will today have earned enough money so far this year to pay their rent – though Londoners will have to wait until July before they can celebrate rent freedom day. At 132 days into the year, a UK renter works the equivalent of more than a month longer than a homeowner [...]
China’s huge currency reserves could mount pressure on prices May 11, 2014 CHINESE Premier Li Keqiang reportedly voiced concerns about the country’s enormous foreign exchange holdings this weekend, worrying that they could drive up price inflation. During a trip to Kenya, Chinese media reported that Li Keqiang had warned that the country’s reserves, which are the largest in the world, could become “a big burden”. The Chinese [...]
British industry most confident in two decades May 11, 2014 MANUFACTURERS are at their most confident in 22 years, according to a survey that suggests the UK’s industrial growth may currently be outstripping that of services firms. According to the latest business trends survey from BDO, the UK’s factory owners are more optimistic than at any point in the last two decades. The poll’s index [...]
New homes deliver construction firms with 12 months of growth May 11, 2014 NEW HOUSING demand helped the construction sector record 12 months of consecutive growth for the first time in six years at the start of 2014, a survey suggests. Construction firms across the sector reported a rise in activity between January and March, adding to the previous three quarters of upbeat figures from building firms. Around [...]
Randgold chair mulls takeover deals in Africa May 11, 2014 RANDGOLD Resources is eyeing acquisitions in sub-Saharan Africa to supplement its organic growth strategy, its new chairman said. Christopher Coleman, who succeeded Philippe Lietard at the company’s annual meeting last week, told City A.M. that while the FTSE 100 gold miner typically preferred to develop its own projects, it would consider buying assets if they [...]
More companies to be allowed to frack for shale gas across UK May 11, 2014 MORE companies are set to receive permits to frack for shale gas in the UK, with the government due to announce a decision on its latest environmental assessment for further licensing imminently. A spokesperson from the Department of Energy and Climate Change (Decc) told City A.M. that subject to that decision, which will be announced [...]
Trading banks for Beaujolais May 11, 2014 IT’S HARDLY news that the City enjoys the odd glass of wine (or five) but as the UK gets ready to celebrate the launch of its biggest purpose built winery, Rathfinny Estate (owned and run by an ex-hedgie), it’s hard not to notice the number of financial whizzes foregoing derivatives for decanters. Mark Driver is [...]
Three things you didn’t know about… May 11, 2014 CEO of Caxton FX Rupert Lee-Browne 1 His family owns copyright to a certain line of The Twelve Days of Christmas – “Five Gold Rings,” to be exact, as his great grandfather was one of the composers. “When the BBC decides to use that particular line we get a tuppence ha’penny.” 2 Rupert spent his [...]
Heathrow Express has a monster mash May 11, 2014 THERE’LL be some tired heads in the City this morning following the weekend’s exploits at Twickenham at the annual London Sevens rugby event. “I think there’ll be a quiet closing party this afternoon and a lot of partying went on last night,” MD of Heathrow Express, Keith Greenfield told The Capitalist yesterday. The sporting extravaganza [...]
Planning boost for theme park near Ebbsfleet May 11, 2014 A PROPOSED theme park near Ebbsfleet has been deemed a project of national significance, allowing it to pass through the planning process more quickly. The Paramount Pictures theme park on the Swanscombe Peninsula in Kent would be “important in driving growth in the economy”, said the Department for Communities and Local Government as it recommended [...]
