By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Bank of England currency chief sacked for “at least 20 breaches” of protocol

March 3, 2015

The Bank of England's chief currency dealer Martin Mallett was sacked for "at least 20 breaches of protocol" – some of which were unearthed during a parliamentary grilling into how much the bank had known about this. "We discovered a series of misjudgements that Mr Mallett had made unrelated to the Grabiner inquiry," Carney told [...]
Bank of England says high frequency trading helps markets

March 3, 2015

While Michael Lewis suggested high frequency trading meant markets were "rigged" in his book "Flash Boys", however a research paper by the Bank of England has found such practices actually beneficial. High frequency trading firms use technological tools and computer algorithms to make a number of big, fast trades. Investment position may be held for seconds, [...]
UK construction accelerated further in February

March 3, 2015

The UK's construction sector has posted its strongest growth in four months thanks to increases in new orders, signalling a rebound from the 17-month low it hit in December. The Markit/CIPS UK Construction Purchasing Managers' Index was 60.1 in February, up from 59.1 a month ago. This beat economists' expectations of 59, and marked the 22nd [...]
Grosvenor House Hotel up for sale as owner collapses into administration

March 3, 2015

The iconic Grosvenor House Hotel in London has been put up for sale after its owner collapsed into administration. The luxury five-star hotel, located on Park Lane in Mayfair, is expected to go for more than the £470m than its owners Sahara Grosvenor House Hospitality initially paid five years ago – the largest London hotel deal [...]
Taylor Wimpey reports sunny outlook for spring as it shrugs off slowing housing market

March 3, 2015

The figures Britain's second biggest homebuilder said full-year revenue rose 17 per cent to £2.7bn, up from £2.3bn a year earlier. This was helped along by operating profit which swelled 53.6 per cent to £480m. Total home completions jumped 6.5 per cent to 12,454 (including joint ventures) up from 11,696 in 2013. Total average selling price [...]
What’s in store for London’s financial services sector?

March 2, 2015

Going into this year, a general election in May, as well as the possibility of a "Brexit" all loom over the City's future. So what are some of the biggest risks facing London's financial services industry? It's an important question. Financial and related professional services contributed £174bn to the UK economy in 2012, or 12.6% of the total. [...]
TfL partners with Development Securities for redevelopment of Southwark Tube station

March 2, 2015

TfL has unveiled one of the sites which will benefit from its push to upgrade its extensive property portfolio. TfL will partner with Development Securities to redevelop the area above and around Southwark Tube station. The project will create 300 new homes, a retail and restaurant space, as well as more public space. "Our site [...]
Eurozone consumer price index falls for third month in February

March 2, 2015

Consumer prices fell across the Eurozone for the third month running in February, according to a flash estimate. However, the rate inched up on the previous month. Annual consumer price inflation was -0.3 per cent, mildly better than the -0.4 per cent economists had forecast, the European Union's statistics agency said. This follows a fall [...]
FTSE 100 and 250 promotions and relegations: Tullow Oil, Afren set to slip after quarterly review

March 2, 2015

Tullow Oil and Afren are likely to slip out of their respective FTSE indexes after this week's quarterly review. Analysis by Société Générale said Tullow Oil could fall out of the FTSE 100. The Irish firm recently reported a £1.3bn pre-tax loss, its first in 15 years, having revealed a $2.3bn (£1.5bn) write-off in January. [...]
Afren share price jumps as much as 27 per cent after debt deadline extension

March 2, 2015

Some off the heat is off London-listed oil producer Afren after it secured an extension on its debt repayments. Afren obtained another deferral of the $50m (£33m) amortisation until 31 March 2015 on its $300m Ebok debt facility. The payment was initially due on 31 January, and the previous extension expired on 27 February. It will continue [...]

Private sector to decline but City to buck trend

Why Nike’s split with Raducanu is a conscious uncoupling

Ministry of Sound: ‘industry is on the up’ as it reveals brand new take on The Box

By: Jessica Morris

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