Boris picks new deputy mayor April 18, 2011 Mayor of London Boris Johnson has appointed Edward Lister, the Conservative leader of Wandsworth Council, as his deputy mayor following the death of Sir Simon Milton. Lister will step down from Wandsworth Council, where he has been a councillor since 1976, to work as Johnson’s chief of staff and deputy mayor for planning. Milton died [...]
Funds of hedge funds shrinking April 18, 2011 The average fund of hedge funds shrank in the last three months, according to figures from alternative assets researcher Preqin. The mean fund of hedge funds has $2.18bn (£1.34bn) in assets under management – down more than 20 per cent since 2010 and compounding an average 24 per cent loss between 2008 and 2009. Preqin [...]
CITY MOVES | WHO’S SWITCHING JOBS April 18, 2011 Ladbrokes Ladbrokes has appointed Ian Bull as chief financial officer, effective from 4 July, when he will report to Ladbrokes chief executive Richard Glynn. Bull joins Ladbrokes from Greene King, where he was group finance director from 2006, contributing to the expansion of the business through organic growth and the acquisition of 2,500 pubs across [...]
BEST OF THE BROKERS April 18, 2011 STANDARD LIFE Citigroup rates the insurance and pensions group “hold / medium risk” with a target price of 200p – a reduction of 18p as the broker expects lower earnings in the coming year. Citi thinks profit momentum will weaken this year, with significant capital expenditure and margin pressures set to dampen growth. The broker [...]
US rate warning hammers FTSE to April’s lowest close April 18, 2011 BRITAIN’S top shares fell sharply yesterday as ratings agency S&P cut its US credit outlook to negative, but some investors doubt this will spur a much more significant flight from risky assets than already seen. The FTSE 100 closed down 125.93 points, or 2.1 per cent, at 5,870.08, its lowest close since 23 March. Just [...]
Downgrade sparks sell off on Wall St April 18, 2011 THE US stock market tumbled in heavy volume yesterday as Standard & Poor’s downgraded the credit outlook of the United States, adding to worries about the global economy after China moved to curb liquidity. Investors also focused on Greece, where financial markets are increasingly convinced the country will have to renegotiate the terms of its [...]
Pharma’s mega-trends should unlock returns April 18, 2011 STAGNATING product development, a tough regulatory climate and pressures from generic producers have seen the profits of the pharmaceutical industry take a hit in the last decade. However, the next chapter in the story should see a reversal, as big pharma takes advantage of ageing populations, the growth of emerging markets and a biotech revolution. [...]
LOSING A GRIP ON THE WALL OF WORRY April 18, 2011 CFD MARKET STRATEGIST, GFT INVESTORS are struggling to keep abreast of all the major issues currently weighing on financial markets. Geopolitically, the situation in Libya is growing more desperate; tensions are still building across the Middle East; the disruption to Japan’s economy and global supply chains due to last month’s earthquake and tsunami has been [...]
Theatreland’s most alluring oyster bar April 18, 2011 J SHEEKEY OYSTER BAR 28-32 St Martin’s Court, WC2N 4AL Tel: 020 7240 2565, j-sheekey.co.uk/oyster-bar FOOD SERVICE ATMOSPHERE Cost per person without wine: £35 OK, I admit it. We’ve got a bit of a Caprice Holdings love-in today – a review of the J Sheekey Oyster Bar and an interview with the Ivy’s director, below. [...]
Secrets of success: meet the man who runs the Ivy April 18, 2011 WHAT’S THE KEY TO THE IVY’S ENDURING, RAGING, CULTISH SUCCESS? The juxtaposition of people; you’re rarely going to find that in another restaurant. Celebrities next to tourists and regular Londoners. Then it’s focus on the customer. That’s the key to a good restaurant. Each day we look at what went wrong and see how we [...]
