China factory profits grow January 27, 2013 INDUSTRIAL firms in China enjoyed healthy growth in profits in December, according to official data. Profits climbed 17.3 per cent to hit ¥895.2bn (£91bn), the National Bureau of Statistics revealed. December’s figure meant that Chinese industry made some ¥5.56 trillion in profit over the whole of 2012, up 5.3 per cent on 2011. These profit [...]
City Moves for 28 January 2013 | Who’s switching jobs January 27, 2013 Winston & Strawn The law firm has appointed Costanza Russo as a partner in its London-based corporate department. She joins from DLA Piper. Russo focuses on eastern Europe, and specialises in advising on cross-border project and infrastructure finance, particularly in the transport and renewable sectors. Pershing The broker solutions business, part of BNY Mellon, has [...]
City Airport’s boss on why London’s future is in the east January 27, 2013 FOR A man whose airport was closed by almost half a foot of snow just days ago, Declan Collier was remarkably upbeat when City A.M. met him at the airport’s headquarters last week. “I’m satisfied that we brought as much as we possibly could to bear to the problem, in terms of equipment and manpower,” [...]
Best of the Brokers January 27, 2013 BSKYB Peel Hunt rates the broadcasting group “hold” with a target of 845p ahead of first half results due on Thursday. The broker expects BSkyB to report 3.4 per cent revenue growth to £3.45bn and flat operating profit of £577m as a result of higher programming costs. Longer term, Peel Hunt has concerns about growing [...]
UK firms set for busy week of trading reports January 27, 2013 THE UK’s corporate calendar is packed this week as many of Britain’s biggest companies deliver their results before the month’s end. Both AstraZeneca and Royal Dutch Shell are set to give full-year results on Thursday, while British Sky Broadcasting, Haynes Publishing and Rank Group will give interim reports. Trading announcements are also expected that day [...]
US indexes are close to highs after stock lifts January 27, 2013 STOCKS have been on a tear in January, moving major indices within striking distance of all-time highs. The bearish case is a difficult one to make right now. Earnings have exceeded expectations, the housing and labour markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of [...]
Dear chancellor: Five steps to inject some life into a flatlining economy January 27, 2013 LAST week’s grim news that the economy is flatlining causes two headaches for the chancellor. First, his tentative deficit reduction plan is losing credibility by the day. Already he has postponed the date when he will balance the budget to the middle of the next Parliament. But his hopes of closing the UK’s unsustainable deficit [...]
Arts and the City are bound together in the interests of our wider society January 27, 2013 THROUGHOUT its history the Square Mile has always been about far more than just business. It is also part of London, part of wider society, and contributes to the life of the broader community in creating an environment conducive to serving and supporting business. Key to this is the City of London’s role as a [...]
Currency war now threatens to throw world off balance January 27, 2013 THE world may be on the brink of a currency war, if not already engaged in covert hostilities. Japan’s new government has done much to foster the idea that competitive devaluation is the order of the day, by bullying the Bank of Japan to achieve 2 per cent inflation. But even before it came to [...]
The Debate: Is there still a case for high-rise tower blocks as attractive buildings for Londoners to live? January 27, 2013 YES Ian Fletcher There are cities all over the world that have no problem with high-rise living, from New York to Singapore. Land in London is scarce and we need to make the most use of it – not only to ensure the city has space to grow, but also that we protect those green [...]
