Chinese hustlers are taking advantage of the Cayman legal system – and British investors are paying for it
BlackBerry brand seriously hurt by outages, according to our panel October 16, 2011 THE BlackBerry brand has been seriously damaged by the recent outages that left users with no data services for three working days, according to the City A.M. / PoliticsHome Voice of the City Panel. More than half of the 355 people surveyed said it will take longer than six months for BlackBerry to restore its [...]
M&B restarts the hunt for new Blood October 16, 2011 JEREMY Blood is planning to step down from the helm of Mitchells & Butlers following the aborted £940m takeover by billionaire Joe Lewis, it is understood. Blood was appointed as interim chief executive in March to replace Adam Fowle, who left “by mutual consent” after two years in the post. City A.M. understands the former [...]
Dealmakers set for worst fourth quarter since ‘02 October 16, 2011 ADVISORY firms and investment banks face another troubling few months, after the worst start to the fourth quarter for M&A and equity fundraisings since 2002. Global M&A activity since the start of the fourth quarter earlier this month has reached just $58.9bn (£37.4bn), down from $99.2bn at this point a year ago, data from Dealogic [...]
Clock is ticking on plan to stop a euro break-up October 16, 2011 OVER three weeks ago during the IMF, World Bank meetings, George Osborne suggested Eurozone leaders had just six weeks to come up with a substantive plan to solve its crippling debt crisis. The deadline is the G20 leaders summit in Cannes on 3 November. The German Chancellor Angela Merkel says there’s no “big bang” miracle [...]
Cosmetic surgery tax hike October 16, 2011 CHANCELLOR George Osborne is planning a new tax on plastic surgery which would boost the price of some treatments by 20 per cent. New guidelines call for doctors performing more invasive treatments – such as facelifts, breast enhancement, liposuction and tummy tucks – to charge VAT. Until now, that charge has only applied to minor [...]
Lehman-style crisis forecast for Eurozone October 16, 2011 BRITAIN’S economic growth is grinding to a halt due to an impending Lehman-style financial crisis in the Eurozone, according to the Centre for Economic Business Research (CEBR) – and more quantiative easing is the best solution. The think tank slashed its economic growth forecast for 2011 from 1.5 per cent to 0.6 per cent, and predicts [...]
Survey: finance firms worry about emerging market laws October 16, 2011 SOUTH ASIA and other fast-growing economies might offer the best opportunities for financial institutions looking to grow, but their legal systems are a major drawback, according to a survey out today from Norton Rose. Asia won out firmly as the main driver of growth in the survey of over 200 institutions. South and north Asia [...]
Inflation set to hit three year high of five per cent October 16, 2011 CONSUMER prices rose by five per cent in the year to September, tomorrow’s figures are expected to reveal. August’s inflation report from the Bank predicted that consumer price index (CPI) inflation would exceed five per cent before the end of 2011. The last time CPI inflation stood so high was in September 2008. August’s prices [...]
ANALYSTS’ VIEWS: WILL SEPTEMBER’S INFLATION HIT 5PC? October 16, 2011 PHILIP SHAW | INVESTEC “September’s inflation will jump to 5.1 per cent, thanks mainly to sharp increase in gas and electricity prices. However, we are hopeful that inflation will fall back below five per cent next month and drop through three per cent in the first half of 2012.” KEN WATTRET | BNP PARIBAS “CPI [...]
House price rises limited to the south October 16, 2011 HOUSE prices in the south are now over twice as high as elsewhere in England and Wales, according to asking prices collated by Rightmove. Asking prices in southern regions have shot up by 4.7 per cent this month, wedging an even bigger gap between housing costs in the south compared to further north. In London [...]
