City of London calls in lawyers over St Paul’s campers as disruptions enter second week October 23, 2011 THE City of London has vowed to get tough with protesters camping outside St Paul’s as the Occupy LSX movement enters its second week. A crunch meeting today will see the City of London Corporation meet with representatives of the cathedral and lawyers to discuss how to close down the makeshift commune. A spokesman for [...]
Knight Frank partners share £73m bonus pool October 23, 2011 PARTNERS in the upmarket estate agent Knight Frank have landed a £73m payout after profits rose by 10 per cent in the last financial year, buoyed by foreign investors flocking to London’s luxury property market. The firm, which advises on both residential and commercial property deals, saw pre-tax profits rise to £101.9m in the year [...]
Panasonic to cut its output October 23, 2011 Japanese electronics maker Panasonic Corp will scale back domestic semiconductor output by the end of March 2012 and cut about 1,000 jobs, reflecting its recent move to reduce TV panel production, the Nikkei business daily said yesterday. All of the firm’s five domestic chip-manufacturing facilities will cut output. The firm is struggling to compete with [...]
Swiss unions want weaker franc October 23, 2011 Swiss trade union and business groups pressed the Swiss National Bank (SNB) to weaken the franc further to support struggling exporters, the head of Swiss industry lobby group Swissmem said yesterday. Representatives from Swiss trade union Unia and Swissmem held a meeting at the Swiss National Bank last week.
Olympic Media Buzz LONDON 2012 PARTNERS October 23, 2011 IN ASSOCIATION with Repskan, 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 12 October to Wednesday 19 October. While [...]
Sub-prime motor group snaps up ex-FSA deputy October 23, 2011 SIR James Crosby has been named as chairman of sub-prime car finance business MoneyBarn, in his first financial appointment since resigning as deputy chairman of the Financial Services Authority (FSA). MoneyBarn, whose backers include Octopus Investments and merchant bank Quayle Munro, rebranded from Duncton in August. The online company provides finance for consumers and businesses [...]
Construction firms close in bleak climate October 23, 2011 A TOTAL of 3,515 construction firms have gone bust in the past year as the downturn takes its toll, according to new research. The sector has been hit by the government spending squeeze, which has led to the shelving of several public works projects. The Highways Agency – the largest customer to the construction sector [...]
Ryanair lays out ambitious growth plans October 23, 2011 RYANAIR is preparing for take off with ambitious growth plans, including almost doubling its passenger numbers over the next decade. Colourful chief executive Michael O’Leary says he is ready to buy up to 300 new aircraft in a bid to fly as many as 130m passengers a year, up from the current 70m, according to [...]
Regulator may need to be beefed up, warns BBA October 23, 2011 INDUSTRY group the British Bankers’ Association has warned that the new system of financial regulation may need to be bolstered once the Financial Services Authority is scrapped. The BBA said money transmission and credit must continue “without a hiccough” in the event that banks’ so-called living wills – a blueprint of how they could be [...]
Co-op Bank in clean energy funding plea October 23, 2011 THE Co-operative Bank has urged the coalition to speed up its review of green energy incentives as new figures show it has lent more than £500m to fund renewable power projects since 2007. The bank has warned that progress to catch up with the low carbon sector in continental Europe could be lost if action [...]
