Boris extends mayor lead November 28, 2011 MAYOR of London Boris Johnson is on course to win re-election next year, according to a poll out yesterday. Around 48 per cent of Londoners expect to give their first preference vote to Johnson, compared with 40 per cent to Labour’s Ken Livingstone and just six per cent for Lib Dem candidate Brian Paddick. And [...]
Squatters stay on at UBS amid legal deadlock November 28, 2011 PROTESTERS who have taken over a disused UBS building in the City could cling on for several more weeks after their case was adjourned in the High Court. Yesterday the so-called Bank of Ideas challenged the possession order, issued by UBS subsidiary Sun Street Properties, at a preliminary hearing. Activists, who represented themselves in court, [...]
LUKE JOHNSON ENDORSES LAUNCH FOR THE CITY’S BEST-CONNECTED November 28, 2011 ARE YOU fed up with receiving endless invitations to “connect” with people you have never met on digitally promiscuous social networking sites? Then Ndoorse, the new network for high-quality professionals founded by ex-Deloitte strategy consultant Jeremy Weil and JC Rathbone director Kristian Rathbone is perhaps for you. The only problem is that the City-meets-entrepreneurs network, [...]
Woodford looking at loss as Omega offer stutters November 28, 2011 INVESCO Perpetual’s Neil Woodford was last night left to rue his decision to back insurance tycoon Mark Byrne’s move to take control of Omega Insurance, the company in which Woodford has a near 30 per cent shareholding. Byrne has tendered for a 25 per cent stake in the struggling group at a price of between 70p [...]
DODD-FRANK ARCHITECT TO STEP DOWN November 28, 2011 Barney Frank, the Democrat responsible for the Dodd-Frank Act on financial reform, is to retire from Congress next year. Frank, who was first elected in 1980, said new boundary changes and his desire to write and teach more had led to his decision. He is one of the Democrats’ biggest defenders of Wall Street regulation, [...]
London house prices join fall in rest of UK November 28, 2011 LONDON’S house prices slid in the month to the end of October, at last joining the falling trend across the rest of England and Wales, figures out yesterday from the Land Registry revealed. Average prices in the capital fell 1.6 per cent from £345,870 to £340,308 in the month to October, up just 0.3 per [...]
German insurer set to test new issues market November 28, 2011 THERE is some positive news from Hannover, where Talanx Group, Germany’s third largest insurance entity, is considering a flotation. According to sources, there’s already been a beauty parade of potential advisers and a timetable should follow in short order. There’s one adviser in situ; Rothschild has been appointed to advise Talanx on the sale. The [...]
King warns of a credit crunch risk November 28, 2011 THE BANK of England’s financial policy committee (FPC) is examining the impact of a European credit crunch on UK banks, governor Sir Mervyn King warned yesterday. King blamed much of the UK’s current and expected economic woes on the Eurozone crisis. He told the Treasury Select Committee that only transfers from financially sound governments to [...]
CITY VIEWS: HOW DAMAGING WILL THE STRIKES BE? November 28, 2011 ANDREW FIELD | TOM JAMES UK “I don’t think they should strike over pensions. They won’t get a better deal anywhere else. Even if their pensions will be slightly less now than before, they are still good, and they are state guaranteed.” ROXROY DUNKLEY | POOLIA UK “The strikes present a bad image to other [...]
Firms doubt government can boost low confidence November 28, 2011 CONFIDENCE is plummeting among businesses, leading to falling investment and increasing the risk of an economic contraction, according to surveys published yesterday by Barclays Corporate and by Lloyds Bank corporate markets. Lloyds’ business barometer showed a net balance of 20 per cent feel pessimistic about the future, up from 15 per cent in October’s study. [...]
