City hiring falls in November December 3, 2012 VACANCIES in the City hit their lowest November level since the start of the credit crunch, according to figures published yesterday by recruiters Astbury Marsden. Analysts said the government must slow down its banking reforms if it wants to stop the slump. Just 1,790 City jobs were created last month – well below the 3,700 [...]
IMF endorses capital limits December 3, 2012 THE INTERNATIONAL Monetary Fund yesterday said capital controls should be used in some circumstances to promote financial stability, overturning a long-held policy that government intervention is damaging for investors. Emerging markets have complained that rich world investors have flooded their economies, driving up asset prices and leading to some overheating. But the IMF warned the [...]
Murdoch shuffle has ex-Sky exec as News Int CEO December 3, 2012 RUPERT Murdoch announced a host of changes at his media empire yesterday, including the hiring of ex-BSkyB chief operating officer Mike Darcey as the new chief executive of UK paper owner News International. Darcey’s appointment follows the weekend resignation of Tom Mockridge. Among other changes made were the closure of the iPad-only publication The Daily, [...]
Retailers post weak sales rise as shoppers delay Xmas spree December 3, 2012 RETAILERS are pinning their hopes on a late Christmas boost, after a mixed November that saw consumers continue to delay parting with their pennies. Like-for-like retail sales edged up 0.4 per cent in November compared with a year earlier, the British Retail Consortium (BRC) and KPMG sales monitor showed this morning. While an improvement on [...]
Tchenguiz brothers to sue fraud squad for £200m in damages December 3, 2012 The Tchenguiz brothers Vincent and Robert yesterday filed a claim against the director of the Serious Fraud Office for more than £200m over the agency’s botched pursuit of the property tycoons last year. The case, which relates to a high profile raid on the brothers over their dealings with failed Icelandic bank Kaupthing, is the [...]
City hits back over Noyer’s euro warning December 3, 2012 LONDON hit back yesterday after French central bank governor Christian Noyer suggested that Eurozone governments should take financial services related to the single currency away from the City. Mayor Boris Johnson joined a chorus of disapproval over Noyer’s comments. “This is a desperate French attack in an effort to make something out of the Eurozone [...]
Sir Terry Leahy to chair bargain store December 3, 2012 SIR TERRY LEAHY is making a comeback to the retail sector as chairman of B&M Bargains after US private equity firm Clayton, Dubilier and Rice yesterday revealed it has bought a stake in the chain for around £965m. The former Tesco boss is an adviser to CD&R, which has fought off rivals such as Advent, [...]
Links inks tie-up as top pay rises December 3, 2012 MAGIC Circle law firm Linklaters announced an exclusive tie-up with South African firm Webber Wentzel yesterday, giving the firm its first local presence on the African continent. The alliance will launch on 1 February next year, and follows a similar deal earlier this year to form ties with Allens Arthur Robinson in Australia. Over the [...]
Over a third of UK’s richest are in south east December 3, 2012 OVER a third of the UK’s wealthiest households are located in London and the south east, according to a data set released by the Office for National Statistics (ONS) yesterday. The official stats body has found that 891,100 households in the south east have wealth in excess of £961,000 – putting them in the richest ten [...]
Ex-Goldman trader probed December 3, 2012 MORGAN Stanley trader Edward Glenn Hadden is under investigation by regulators at CME Group over trades in Treasury futures four years ago while he was employed by Goldman Sachs, according to a regulatory filing. Hadden is a managing director and head of global interest rates products at Morgan Stanley. Prior to joining Morgan Stanley, Hadden [...]
