Crown Estate unveils its £300m redevelopment November 6, 2011 The Crown Estate today unveiled its £300m redevelopment of Regent Palace Hotel, just behind Piccadilly Circus in London’s West End, into luxury offices and shops. The Queen’s property company said it has signed its first office tenant, the fund manager Generation, co-founded by former US Vice President Al Gore, to its 200,000 square feet of [...]
Olympic Media Buzz LONDON 2012 PARTNERS November 6, 2011 IN ASSOCIATION with Repskan.com, the media monitoring and analytics platform, City A.M. is measuring the relative Olympic media buzz around the partners for the London 2012 Olympic and Paralympic Games, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 26 October to Wednesday 2 November. Continued [...]
Buffett says Berkshire hit by derivatives November 6, 2011 WARREN Buffett’s conglomerate Berkshire Hathaway reported a smaller third-quarter profit over the weekend, after losing more than $2bn (£1.24bn) on derivatives related to stock market performance. That was nearly three times what Berkshire lost on the same instruments a year ago. Buffett has criticised derivatives in general, but said these particular contracts were safe and [...]
Apple hands out millions to key executives November 6, 2011 APPLE has dished out hundreds of millions to its senior executives in a bid to keep hold of its top staff in the wake of Steve Jobs’ death. Key men including marketing boss Phil Schiller, chief financial officer Peter Oppenheimer and operations director Jeff Williams will each receive packages worth $60m (£37.4m). The packages are [...]
LLOYD BLANKFEIN GETS HIS JUST DESSERTS FROM BUSINESS ELITE November 6, 2011 THERE WAS only one sour note at the Goldman Sachs and Financial Times Business Book of the Year awards – the Roquefort-flavoured ice-cream, which went down about as well as sovereign debt exposure at MF Global. “I’m not sure about this,” said Jonathan Taylor from HM Treasury as he laid down his spoon with a [...]
BILL OF THE WEEK November 6, 2011 AS THE nights draw in, four private investors were drawn to Boisdale of Belgravia for what the Scottish institution does best: some reassuringly autumnal haggis, grouse, Scotch rarebit, wild salmon and, of course, whisky. Make that three measures of Royal Salute and one of Glenlivet, thought the financiers as they digested their long Hibernian lunch [...]
Reform urged to avoid new UK recession November 6, 2011 THE UK could already be suffering from the start of a double dip recession, according to new data from accountancy group BDO. Revealing the latest bearish news from its business trends report, BDO partner Peter Hemington has called on the government to confront the downturn with radical reforms to taxation and infrastructure. “We urge chancellor [...]
Greek affairs so labyrinthine even Theseus would struggle November 6, 2011 INVESTORS and traders alike spent most of last week dazed and confused. Equity, bond, commodity and FX markets swung around wildly as they responded to headline news out of Greece and G20. There was no time available for detailed analysis, and even Theseus would have struggled to navigate the labyrinth that is Greek politics. While [...]
Deteriorating outlook for SME factories November 6, 2011 THE OUTLOOK for small and medium sized manufacturers is increasingly bleak, according to figures released today by employers’ organisation the CBI. Factories expect no growth in orders and for stocks to whittle down in the coming three months, with output set to fall. “Small and medium-sized manufacturers have seen domestic demand flat-lining in the past [...]
More inflationary pressures could be looming on horizon, economists warn November 6, 2011 INFLATION is likely to dip next year but only temporarily, with further price hikes set to pile more misery on savers and shoppers, a prominent group of economists will warn today. Strong price pressures will bite again once the recovery finally gears up, the Ernst & Young Item Club says. Impending domestically-generated inflation renders the [...]
