One City A.M. reader exhibits a discerning eye picking his prize November 12, 2013 CONGRATULATIONS to reader James Howell of Alpha Financial Markets Consulting, who won ING’s competition in these pages for £1,000 of art. The lucky winner picked out his prize (Diane’s garden by the sea, by Ann Winn) while visiting last night’s preview of the 2013 ING Discerning Eye exhibition with Gerald Walker, chief executive of ING [...]
Final decision made on tallest building in US November 12, 2013 THE TALLEST building in the US changed yesterday, after a committee of architectural experts decided that One World Trade Centre is 1,776 feet tall, about 50 feet larger than the Willis tower in Chicago. The aptly named Council on Tall Buildings and Urban Habitat revealed its official and final decision which building is the tallest [...]
EU seeks to increase influence on global accounting rulebook November 12, 2013 THE EU is seeking to increase its influence over global accounting standards by beefing up the agency that scrutinises new rules and in certain cases tweaking how they are applied in the bloc. The book-keeping standards, the bedrock of markets, are written by the International Accounting Standards Board (IASB). They apply in over 100 countries, including [...]
PPI claim firms face fines for pestering ineligible customers November 12, 2013 CLAIMS management firms will face fines if they send banks too many false PPI claims, under rules unveiled by the Treasury and Ministry of Justice yesterday. Banks have complained that they are inundated with false claims, delaying the processing of valid mis-selling claims and adding to their costs. A consultation will be launched this week [...]
Recovery set to gather steam at last in France November 12, 2013 THE FRENCH economy should shrug off fears of stagnation, the country’s central bank predicted yesterday, forecasting growth will pick up in the final three months of the year. The Bank of France expects growth of 0.4 per cent in the fourth quarter, accelerating from the expected 0.1 per cent growth in the third quarter. It [...]
European Union agrees €135.5bn 2014 budget November 12, 2013 EU SPENDING will total €135.5bn (£114.4bn) in 2014 under a deal reached by EU negotiators yesterday, which included extra funds to try to fight soaring youth unemployment in the 28-nation bloc. The deal, which cuts EU spending by about six per cent from this year, is the first to reflect the new terms for EU [...]
Dovish US Fed official says low inflation allows more easing November 12, 2013 AMERICA’S ultra-loose monetary policy will not stoke inflation, one of the Federal Reserve’s most dovish senior officials insisted yesterday. “Inflation remains weak, or very low by historical standards, by the goal of two per cent per year, so there is no reason to be afraid of monetary stimulus,” said Narayana Kocherlakota, president of the Minneapolis [...]
Brand Index: The secret recipe for Share a Coke’s massive success November 12, 2013 COCA-COLA’S Share a Coke campaign, for which the company replaced its label with 150 of Britain’s most popular first names, was the marketing champion of the summer. The company is now looking to build on that success for the holidays with a new campaign that encourages consumers to “Share a Coke with Santa”. At YouGov, [...]
Rental bill for New Bond St soars November 12, 2013 RENTS in London’s New Bond Street have surged by more than 15 per cent over the past year as the location climbed from sixth to the world’s fourth most expensive shopping thoroughfare for retailers. Retailers on Britain’s prized shopping street paid an average rent of $1,047 (£657) per square foot over the last twelve months, [...]
Intercontinental completes New York takeover November 12, 2013 INTERCONTINENTAL Exchange’s takeover of NYSE Euronext is complete and stock of the combined company will begin trading under the symbol ICE today, the head of ICE confirmed last night. The deal, which was worth $10.9bn as of 1 November, gives ICE control of Liffe, Europe’s No2 derivatives market, as well as the New York Stock [...]
