TAXPAYERS PETITION FOR PRIVATISATION OF THATCHER’S FUNERAL December 22, 2011 WHICH investment bank will underwrite the ticket sales at Margaret Thatcher’s privatised funeral? The Capitalist only asks because, as of last night, more than 14,000 people had signed up to the e-petition posted by Scott Morgan declaring that the Iron Lady’s state funeral should be funded and managed by the private sector. After all, Baroness [...]
Investec bags Evo in time for Christmas December 22, 2011 INVESTEC formally closed its deal to buy British investment bank Evolution Group yesterday, following its final decision on lay-offs across both companies. Investec won its bid battle in August when it settled on a price of £233m all in shares, a premium of 28 per cent on Evolution’s share price the day before it disclosed [...]
RBS Hoare Govett faces the loss of another client December 22, 2011 TROUBLED broker Hoare Govett could be about to lose its mandate with Tullow Oil. Hoare Govett and current co-broker Bank of America Merrill Lynch are taking part in a beauty parade which will determine if they continue to work with the Africa-facing oil producer. It comes just days after Hoare Govett lost another key client [...]
Broker Daniel Stewart sinks in the first half December 22, 2011 DANIEL Stewart Securities, one of a clutch of small brokers operating in the City, has posted a first-half loss after the European sovereign debt crisis led to the deals market drying up. The AIM-listed firm made a pre-tax loss of £605,952 for the six months to 30 September, compared to a profit of £190,572 for [...]
US economy growing less than hoped December 22, 2011 US CONSUMER confidence is at its highest in six months, leading indicators point to growth into 2012 and new jobless claims last week were the lowest since 2008, according to a raft of upbeat data out yesterday. But GDP growth for the third quarter was revised down by the Commerce Department, while industrial activity slowed [...]
London 2012 IMAGE OF THE WEEK December 22, 2011 LOCOG, the organising committee for next year’s Olympic and Paralympic Games, released new aerial images on Wednesday showing the scale of the transformation in Stratford. Between now and the 2012 Games, City A.M. is publishing its Olympic Image of the Week. We welcome photos from all sources – sponsors, athletes, commuters, residents – if you [...]
UK fuel output plummets in 2011 December 22, 2011 Domestic fuel production fell 19.2 per cent in the third quarter compared with the same period of 2010 – a record annual quarter on quarter fall, according to data from the Department for Energy and Climate Change. The government denied that this was due to its windfall tax on North Sea oil and gas profits. [...]
ATMs put out more in December December 22, 2011 Today is expected to be the busiest day for cash machines withdrawals as last minute pre-Christmas shoppers hit the high street. Sainsbury’s Finance estimates that over £11bn will be withdrawn from ATMs in the UK this month – a substantial increase on the £10.3bn withdrawn last December, thought to be impaired by the cold winter [...]
Ban on card charges considered December 22, 2011 A crackdown on confusing credit card charges is on the way, the government will announce today. The Treasury is looking at banning excessive surcharges on credit and debit cards across most retail sectors, and will publish a consultation in the New Year. The new rules would be introduced by the end of 2012, two years [...]
Apple falls as Android leads smartphone sales December 22, 2011 APPLE’s crop is suffering in Europe due to increased competition and the troubled economy as Android nabs the top spot in the smartphone market, the researcher Kantar Worldpanel ComTech has revealed. While the iPhone 4S has been flying off British and American shelves, customers in continental Europe have been less enthralled by the company’s latest [...]
