First Libor-fixing accused heads to court May 25, 2015 The first trial over alleged Libor-fiddling begins today, and ex-trader Tim Hayes will appear in Southwark Crown Court. Hayes, a former UBS and Citi trader, is charged with eight counts of conspiracy to defraud. The trial is beginning three years after the Serious Fraud Office (SFO) began its probe into the scandal. The SFO claim [...]
Malone-backed Charter swoops for Time Warner May 25, 2015 John Malone-backed cable group Charter is poised to win the race to snap up media giant Time Warner in a $55.1bn deal to create America’s second largest cable and broadcasting company. The billionaire executive, who chairs Liberty Global, has helped engineer a $195 a share stock and cash deal for Time Warner. The takeover, which [...]
Greek shares drop despite pledge to keep paying IMF May 25, 2015 Stocks in Athens sank three per cent yesterday despite the government reiterating that it would meet its intention to pay its creditors on time. The euro also sank to a one-month low against the dollar, trading at $1.097 last night. At the weekend one of the country’s ministers claimed that Greece would refuse to – [...]
London’s cabbies are taking on Uber, and TfL in high stakes fight for capital’s streets May 25, 2015 Transport for London’s (TfL) headquarters will be the scene of a protest by black cab drivers today. The action is a demonstration of the simmering tensions between traditional cabbies and modern firms like Uber, which show no sign of dying down. Black cab drivers are represented by the London Taxi Drivers’ Association (LTDA), Unite [...]
Investment to boost economy as firms spend May 25, 2015 ECONOMIC growth numbers are expected to be upgraded this week, and increasing business investment is set to boost GDP across the rest of 2015. The first estimate of first quarter growth came in surprisingly low at 0.3 per cent. But economists expect this to be revised up to 0.4 per cent on Thursday – and [...]
Madame Tussauds building to be sold to Taiwanese insurer May 25, 2015 TAIWANESE insurer Fubon Life is to buy the home of Madame Tussauds wax museum in Marylebone for £348.8m. The insurer, a subsidiary of Taiwan’s second-biggest financial company by assets has been given the green light by the country’s insurance watchdog to buy the site of the tourist attraction from property tycoon Nick Leslau’s Secure Income [...]
Institute of Directors calls for HS2 rail line to go to Scotland as planned May 25, 2015 Britain’s directors want the new high speed rail line to go to Scotland, as was originally planned. A Institute of Directors (IoD) spokesperson told City A.M. yesterday: “Our members across the country still feel that intercity connectivity and improvements to existing lines – including in Scotland – should be the priority.” The comments come after [...]
End of mansion tax threat lifts top tier of London’s property market May 25, 2015 The higher end of the London housing market is seeing market volumes return following Labour’s defeat in the General Election, ending the threat of a proposed mansion tax on properties over £2m. The number of properties over £2m listed on Getagent.co.uk, an estate agent comparison site, more-than doubled in the weeks after the national vote, [...]
Survation finds minority voters backed Tories in record numbers May 25, 2015 The Conservatives won over an unprecedented number of ethnic minority voters in the General Election, according to a new survey from Survation. In a poll conducted for the non-partisan British Future think tank, Survation found that while Labour remains dominant among minority voters with 52 per cent of the vote share, the gap between the [...]
Financial hiring rebounds after election result as job vacancies in Glasgow and Edinburgh surge 21 per cent following independence vote May 25, 2015 Hiring in the City dipped in the run-up to the General Election, but has rebounded on the Conservatives’ victory, recruitment firm Venn Group said today. Advertised vacancies fell by 10 per cent in April, on fears that a Labour win could have led to higher taxes and more red tape. The surge in vacancies since [...]
