US house sales recover from low June 29, 2011 Pending sales of existing US homes rebounded from a seven-month low in May but demand for mortgages sank last week as the market struggled under the weight of a glut of unsold properties. The National Association of Realtors home sales index increased 8.2 per cent to 88.8, but rise in contracts was merely a correction [...]
Confidence slips in the Eurozone June 29, 2011 Economic confidence in the Eurozone fell less than expected in June. The European Commission’s economic sentiment index slid to 105.1 from 105.5 in May, hitting its lowest level since October 2010.
These strikes are a sign of unions gone astray June 29, 2011 When a monarch expresses sympathy with strikers, the workers probably have a good cause. In 1926 the general strikers were denounced as revolutionaries, but King George V insisted: “Try living on their wages before you judge them.” He had a point: miners were having their hours increased and their pay cut by between 10 and [...]
AssetCo buys time as bid nears June 29, 2011 Troubled fire engine supplier AssetCo put in a petition to send the company into administration yesterday in a move believed to be buying its board two weeks’ leeway as two bidders close in on it. The administration submission came to light at a hearing to discuss a creditor’s petition from Northern Bank, which provides AssetCo’s [...]
Aegis in exclusive Ipsos talks June 29, 2011 Aegis said yesterday that talks with French group Ipsos about the sale of its market research unit Synovate had moved to an exclusive basis. Aegis, which also has a media buying arm, revealed it was in discussions with Ipsos about the sale of the unit, which analysts value at about £500m, earlier this month. A [...]
CBI supports Gove’s drive for numeracy June 29, 2011 EMPLOYERS’ organisation the CBI yesterday threw its weight behind Michael Gove’s pledge to put maths back at the heart of the curriculum. In a speech at the Royal Society, the education secretary said he would like to see the “vast majority”of students studying maths until the age of 18 within a decade. And he told City [...]
Tory MP calls for cap on UK national debt June 29, 2011 A CONSERVATIVE MP is to propose new legislation that would put a cap on Britain’s national debt. Sajid Javid, the MP for Bromsgrove, will next month introduce a National Debt Cap Bill under the ten minute rule in the House of Commons. The bill would cap the amount the government can borrow as percentage of [...]
How to take a Savile Row legend global June 29, 2011 FOR all that it’s seen as a bastion of steadfast, stiff-upper-lip Englishness, Savile Row has always been a place of shifting sands. Tailoring houses have hopped from one address to another, others have swallowed up their failing rivals, new blood has appeared regularly to shake up the establishment while other tailors have come and gone. [...]
NEWS FROM THE SHOPS June 29, 2011 CHESTER BARRIE’S OFFER FOR READERS Chester Barrie, the made to measure and ready to wear specialist with shops on Savile Row and in the City branch of House of Fraser, is offering City A.M. readers an extra 10 per cent off in its current summer sale. The offer is only available at the House of [...]
For summer: the Italian alternative June 29, 2011 ANYONE who found themselves wilting in the heat earlier this week will understand the sense behind owning suits of different weights. There are plenty of fine, lightweight English cloths, but if you’re after a summer suit with real panache consider going Italian. Or more specifically, Neapolitan – the Milanese tailoring tradition in northern Italy is [...]
