Olympus ex-director rallies support for axed Woodford November 13, 2011 A FORMER executive at Olympus has piled more pressure on to the board of the scandal-hit company by calling for the return of its ousted president and chief executive. Koji Miyata has launched a campaign for the re-instatement of Michael Woodford (pictured), who was fired from the group after questioning a series of controversial payments [...]
Calls to attach strings to central banks’ liquidity November 13, 2011 CENTRAL banks risk introducing moral hazard by providing liquidity to banks unconditionally, according to a report out last night from the Committee on the Global Financial System (CGFS), a part of the Bank for International Settlements (BIS). The European Central Bank (ECB), now led by Mario Draghi (pictured right) has been a major provider of [...]
City business map re-drawn November 13, 2011 THE traditional areas where business sectors have operated for decades are changing as companies hunt for affordable and convenient office space, according to new research published today. While the City has always been the hub for banks and insurance it is also becoming a magnet for IT firms and the changing makeup of the area [...]
Bumper week for US IPOs as nine start deals November 13, 2011 THE US IPO market could see its busiest week in more than a year, with nine companies aiming to begin fundraising in the next five days. The prospective deals include a $114m (£71m) capital raising on the Nasdaq from consumer review website Angie’s List, and a $578m offering from Delphi Automotive on the New York [...]
HMV turns the music off to open first tech store November 13, 2011 HMV HAS launched its first store dedicated to technology in London’s Square Mile in a bid to reverse its declining CD and DVD sales in the run up to the crucial Christmas trading period. The so-called techshop, located in Land Securities’ One New Change mall near St Paul’s, comes after the troubled retailer’s recent expansion [...]
John Lewis sees sales dip November 13, 2011 Department store group and traditional retail bellwether John Lewis said its sales had dipped slightly last week compared with the same week a year ago, as mild autumnal weather and a difficult economic backdrop deterred shoppers. The employee-owned business said yesterday that sales in the week to 12 November were £76m, up six per cent [...]
Cable sympathises with the City’s Occupy LSX protesters November 13, 2011 BUSINESS Secretary Vince Cable has said he has sympathy with the protesters at St Paul’s Cathedral but questioned the aims of the camp. Yesterday he told the BBC he had sympathy with the “emotions that lie behind” Occupy LSX but stopped short of giving an endorsement. “Some of their recommendations aren’t terribly helpful, but that’s [...]
Olympic Media Buzz LONDON 2012 PARTNERS November 13, 2011 IN ASSOCIATION with Repskan.com, 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 2 November to Wednesday 9 November. Due [...]
Private equity houses circle NFA November 13, 2011 A SERIES of private equity houses are lining up to bid for the National Fostering Agency (NFA) from Sovereign Capital. The Priory Group, which is backed by Advent private equity and runs the renowned Roehampton rehabilitation clinic, is believed to have made an approach already. Teachers’ Private Capital, the private investment arm of Ontario Teachers’ [...]
Blame selfishness, not capitalism, for our woes November 13, 2011 I LOVE a protest. So long as it involves a point worthy of consideration, and preferably a brazier, I’m there. I’ve spent quite a while wandering around the OccupyLSX site reading the bumf and trying to look inconspicuous. No mean feat when you’re 6’2” and wearing full TV studio make-up, but still. I think most [...]
