Peer wants UK to help more entrepreneurs May 27, 2012 THE UK would have almost a million additional businesses if it set up firms at the same rate as Americans, Lord Young has claimed in a government-commissioned report. Despite the UK having the lowest barriers to setting up a firm in the whole OECD, it does not have the highest rate of entrepreneurship. “It is [...]
Top homes hit record high prices May 27, 2012 The average asking price for prime properties in the UK is at an all-time high following a 0.9 per cent increase last month, according to data out today from PrimeLocation.com. The asking price for the top 25 per cent of houses now averages £478,797, up 4.8 per cent or £21,756 on the year. Prime London [...]
China opens up bank industry May 27, 2012 China will give private capital the same entry standards to the banking industry as other capital, state media said yesterday, as the government makes its hardest push in a decade to court private investors by welcoming them into a handful of sectors. Private companies would be allowed to buy into banks through private stock placements, [...]
Queen is said to add £44bn to UK economy May 27, 2012 A BRANDING company has claimed that it can put a value of £44bn on the British monarchy. The calculation values the sovereign’s annual contribution to the British economy and then estimates the net benefit “into perpetuity”. The £44bn includes “intangible” assets, such as the boost to tourism and goods given a royal coat of arms, [...]
Egypt weighs election complaints May 27, 2012 Egypt’s election committee was yesterday fielding complaints about a presidential poll that has left voters with what many see as a painful run-off choice between an Islamist apparatchik and a throwback to Hosni Mubarak’s era. Both contenders are seeking to lay claim to the mantle of the “revolution” that toppled Mubarak 15 months ago, and [...]
Evonik to list within a month May 27, 2012 The owners of Evonik plans to list the shares of the specialty chemicals company on the Frankfurt stock exchange within the next month, in what will likely be one of the largest German share offerings this summer. Evonik is pressing ahead after earlier in the week signalling it may delay the offering amid Eurozone market [...]
Glenstrata boss Davis set for a loyalty bonus May 27, 2012 THE chief executive of Xstrata is set to line up a major retention bonus when a circular explaining the miner’s $90bn (£57bn) merger with Glencore is published this week. Mick Davis is expected to be allocated a retention bonus worth tens of millions of dollars if he stays with the enlarged group for three years. [...]
Codelco sticks to its guns in Anglo dispute May 27, 2012 ANGLO American’s hopes of a swift end to its Chilean fight faded yesterday after the boss of Codelco signalled there will be no change in the Chilean state copper giant’s attitude toward its right to acquire 49 per cent of Anglo American’s assets in Chile. Thomas Keller, who is set to take the helm of [...]
Graff gets lots of interest in its $1bn float May 27, 2012 THE Mayfair-based luxury jeweller Graff Diamonds has seen tremendous interest for its Hong Kong IPO of up to $1bn (£640m), sources close to the company said this weekend. Graff’s flotation is entering its final stretch in the shadow of a global stock market rout. Famous for its giant and rare gems, Graff will today test [...]
Soho House group to open five new venues after profits surge May 27, 2012 SOHO House Group, a members-only chain of luxury clubs, has confirmed ambitious plans to open five new venues by 2014 after reporting a jump in full-year revenue and profits. The owner of Shoreditch House and Dean Street Townhouse in London, which famously shuns City executives in favour of artists, said yesterday it will open new [...]
