Cyprus insists it won’t default December 18, 2012 Cyprus said yesterday that it would not default on its payments and had secured necessary financing to meet its immediate requirements. The island is awaiting a credit line of up to €17.5bn (£14.2bn) from international lenders after its banks suffered huge losses to debt-crippled Greece. The government had “secured all its current financing needs”, the [...]
European states reduce rates December 18, 2012 The central banks of Sweden, Turkey and Hungary all cut interest rates yesterday, united by the theme of the damage inflicted on their economies by Eurozone economic weakness. Sweden’s Riksbank lowered rates for the fourth time in a year to one per cent, while Hungary’s rate was trimmed to a two-year low of 5.75 per [...]
Small firms hope 2013 beats 2012 December 18, 2012 Small firms in the UK are less downbeat about prospects for the coming year than they were 12 months ago, according to survey results released yesterday. The Federation of Small Businesses’ (FSB) measure of morale was minus 5.6 – worse than in the third quarter of the year, but 18.8 points higher than during the [...]
For a glittering morning after December 18, 2012 FORMER City worker and founder of Chemist Direct Mitesh Soma has created an antidote to the dreaded holiday hangover – his and hers Christmas party survival kits. Soma, a former Deutsche Bank management consultant first put together the emergency packs last year, in response to demand from friends in the Square Mile. He told The [...]
Deloitte helps pants to poverty pop-up shop December 18, 2012 One of Deloitte’s self-styled Social Innovation Pioneers, the ethical retailer Pants to Poverty, has opened a pop-up shop in Sloane Square for the Christmas period. It promises organically farmed stocking fillers, all the way from “cotton to bottom” by buying directly from 12,000 farmers in Southern India, who are provided with funding and education.
Bumi chief plots turnaround December 18, 2012 We have not earned the respect of our shareholders… We have been a source of massive value leakage” IT IS just 24 hours since Nick Von Schirnding was appointed chief executive of troubled coal miner Bumi, and he’s rattling around in a bare Belgravia office. The rest of the Bumi team has headed to local [...]
Editor’s Tribute December 18, 2012 AFTER an extremely successful debut appeal a year ago, we are delighted to be able to announce that our second Christmas Appeal has raised £1,025,718 for a very deserving charity. As you know, the money will go to Opportunity International, our chosen partner for the appeal, and help it in its wonderful job of providing [...]
Matching readers’ donations December 18, 2012 PEOPLE often get the wrong idea about what international development actually means. Yes, some of it is about giving emergency help following natural disasters or humanitarian assistance to people whose lives are turned upside down by war. But that’s only part of the picture. In the last few decades there’s been a real shift in [...]
How to give December 18, 2012 online at: www.cityam.com/appeal by text CITY13 and amount (£5 or £10 only) to 70070 Text donations may not work from company mobile phones as these often block premium messages. credit or debit card by phone to Opportunity International (01865 725 304) If donations exceed our programme needs in Africa, they will be deployed elsewhere. DONATIONS [...]
Who’s switching jobs December 18, 2012 Adveq The asset management firm has promoted Sanjay Gupta to executive director. He joined in 2008 as a senior associate in its investment management team, and he is currently head of the Adveq Opportunity programme and leads its US buyout and turnaround investment activity. State Street Global Advisors The asset management division of State Street [...]
