HAWAIIAN SHIRTS SET THE AGENDA FOR FEDERAL RESERVE COMEDIANS January 15, 2012 THE SUB-PRIME mortgage meltdown was rumbling ever-louder in the background, but the 2006 meetings of the Federal Reserve were still a laugh a minute. The transcripts of that year’s meetings of the policy-setting Federal Open Market Committee were released at the end of last week after a standard five-year delay. But for readers who didn’t [...]
BILL OF THE WEEK January 15, 2012 THE CAPITALIST has been hoping a suitable bill from one of Jamie Oliver’s establishments would find its way to City A.M. for months. And, last Thursday, this column’s patience was rewarded when the sommelier at the TV chef’s new City venue, Barbecoa, was dispatched to the cellar for four bottles of 2005 Rousseau at £350 [...]
Homes more affordable as supply slumps January 15, 2012 HOMES are at their most affordable level for 14 years, according to data released today by Halifax, while figures from Rightmove suggest very low housing supply will prevent the market falling further. First-time buyers spent 27 per cent of their disposable income on their mortgage, down from the 37 per cent average seen over the [...]
MEADOWHALL CENTRE TO GO UP FOR SALE January 15, 2012 PROPERTY developer London & Stamford is close to putting Sheffield’s Meadowhall shopping centre up for sale in a deal that could be worth as much as £1.6bn. London & Stamford owns half of Meadowhall, one of Britain’s biggest malls, with a Middle Eastern partner, while British Land owns the remaining half. The sale is likely [...]
Tchenguiz to seek service station sales January 15, 2012 ROBERT Tchenguiz, the high-flying property entrepreneur, is looking to sell a portfolio of Welcome Break motorway service stations in a deal that could be worth more than £300m. Tchenguiz bought the sites eight years ago through his company, Rotch Property Group, for around £24.7m, with backing from Royal Bank of Scotland. He is understood to [...]
Manufacturers look past weak UK to grow in emerging markets January 15, 2012 MOST British manufacturers believe emerging markets offer growth opportunities in 2012, while half worry that the UK’s economy will worsen, according to data out today from industry organisation EEF. The economy will deteriorate according to 49 per cent of firms, while just 21 per cent expect an improvement this year. The Eurozone remains a major [...]
Cairn Energy eyes oil deal in Falklands January 15, 2012 CAIRN Energy, the cash-rich oil explorer, is one of several independent firms considering a deal to invest in the Falkland Islands. The Edinburgh firm, run by ex-Scotland rugby cap Sir Bill Gammell, has spoken to Rockhopper Exploration as it continues to look for ways to grow. Rockhopper has caught the eye of several larger explorers [...]
Pay for in-house lawyers lagging behind inflation January 15, 2012 IN-HOUSE lawyers are facing a real-terms cut in salary for the second year running, new research has revealed this morning, with average pay increases across the sector failing to match the rate of inflation in the UK. In-house heads of legal have seen their salaries rise by an average of 2.5 per cent over the [...]
Value of M&A deals halves in five years January 15, 2012 HOPES of a recovery in the deals market have been tempered today by new research showing the end of a rally in buyouts involving British companies. The value of mergers and acquisitions targeting privately owned British companies has fallen by four per cent to £12.1bn. The level of deals for the year to July 2011 [...]
Banks are missing a trick by failing to provide digital banking for customers January 15, 2012 BANKS are failing to keep up with the digital demand of their customers and missing out on potential revenue, according to survey results released today by PwC. The report suggests that digital banking will become the main way of managing finances – overtaking physical bank branches – by 2015. Of the 3,000 bank customers asked [...]
