EasyJet founder to vote against McCall’s payout February 9, 2014 EASYJET’S biggest shareholder is set to vote against the £6.4m pay packet of chief executive Carolyn McCall this week, though insiders expect the overall investor vote to back the pay plans. Stelios Haji-Ioannou, who founded the company and whose family owns a 36 per cent stake, intends to reject the remuneration report at Thursday’s annual [...]
Firms could part fund Crossrail 2 February 9, 2014 A SECOND Crossrail to link south-west and north-east London could be built for £12bn-£20bn, with less than half of its funding from central government, a report claims today. Research published by London First argued that the railway could be partly paid for by extending the rise in business rates imposed to fund the first Crossrail [...]
City chief plots £4bn powerline from Iceland February 9, 2014 CITY financier Edi Truell is laying ambitious plans to build the world’s longest undersea power cable, in a bid to power 2m British homes with electricity routed from Iceland. Truell, appointed by mayor Boris Johnson to run the London Pension Funds Authority last year, has approached a number of pension fund investors in Canada and [...]
Economists expect Carney to scrap unemployment threshold February 9, 2014 THE STRENGTH of Britain’s recovery has taken the Bank of England by surprise and will force Mark Carney to drop his unemployment threshold this week, economists are predicting. Last summer the governor said he and the monetary policy committee (MPC) would only consider raising interest rates once the unemployment rate fell below seven per cent. [...]
Q and A: Atlantic Supergrid and the IceLink February 9, 2014 Q What is the Ice-Link cable between the UK and Iceland? A Edi Truell’s Atlantic Supergrid company wants to build a 1,000km high voltage direct current cable underneath the north Atlantic to transport 1.2 gigawatts of power from Iceland to two million UK homes by 2020. The cable is called the Ice-Link. Q [...]
Former banker gets saucy on Dragons’ Den February 9, 2014 SPOILER ALERT: A former City worker entered the Dragon’s Den last night and came out smiling, having bagged a £50,000 investment from Piers Linney in return for a 30 per cent equity share in her Indian sauce business, Vini & Bal’s. Vini Aujla, a former investment manager at Lord Rothschild’s RIT Capital, and her husband [...]
Rathbones battles the English lacrosse team in wet Hyde Park February 9, 2014 INVESTMENT managers at Rathbones had an unusually challenging afternoon on Friday, as a team from the City firm gathered in a muddy Hyde Park to take on the English lacrosse team at their own game. “There was more water than grass on the park but everyone enjoyed themselves,” Rathbones’ Chris Dean told The Capitalist. The [...]
Three things you didn’t know about… February 9, 2014 ELLA’S KITCHEN FOUNDER AND CEO PAUL LINDLEY 1 Paul already owns his dream car, an Aston Martin DBS, but he’s planning to buy a Tesla S (fully electric car) when they become available in the UK this summer, having fallen for it after a test drive. 2 He grew up in Zambia and loves African [...]
Punch creditors say debt deal is scaremongering February 9, 2014 BONDHOLDERS of British pub operator Punch Taverns have claimed the company is “scaremongering” ahead of Friday’s vote on the restructuring of its £2.3bn debt mountain. Punch Taverns last week reminded bondholders of its imminent restructuring vote, warning that rejection would “have a material negative impact on the business”. The pub group, which now has over [...]
Global asset base predicted to pass $100 trillion barrier by 2020 February 9, 2014 GLOBAL assets under management will grow by six per cent a year to top $100 trillion (£61 trillion) by 2020, a major new study from PwC predicts today. Assets managed around the world will rise from $63.9 trillion today to $101.7 trillion in just six years, led by growing riches in emerging markets and the [...]
