Hunt under pressure over Murdoch links December 22, 2010 CULTURE secretary Jeremy Hunt’s suitability for taking over the media regulation brief was called into question yesterday as cabinet secretary Gus O’Donnell said that he had taken legal advice regarding Hunt’s impartiality. Hunt has found himself thrust into the controversy surrounding business secretary Vince Cable after David Cameron transferred all of Cable’s responsibilities relating to [...]
Top lawyer: US has a strong case against E&Y December 22, 2010 A FORMER New York state attorney has said the lawsuit filed against Ernst & Young (E&Y) for allegedly assisting Lehman Brothers’ financial fraud is likely to be based on strong evidence and have a high chance of success. Attorney general Andrew Cuomo’s office “will have made sure they have a slam dunk for a settlement [...]
Happy Christmas to all our readers December 22, 2010 AS another year draws to a close we at City A.M. have good reason to feel fortunate about the way things turned out in 2010. Firstly, it was a sensational year for news, both financial and political. In the financial sphere, there was the takeover of Cadbury by Kraft, which brought all sorts of calls [...]
BAA chief will give up bonus December 22, 2010 BAA chief Colin Matthews will relinquish his 2010 bonus, following criticism of the operator’s handling of bad weather at Heathrow airport. Matthews refused to confirm the amount of money involved when he announced his decision yesterday, but company accounts put his total earnings including bonus at £944,000 for last year. Despite Heathrow’s second runway reopening [...]
What the other papers say this morning December 22, 2010 FINANCIAL TIMES PATTEN TOPS LIST TO CHAIR BBC TRUST Six people are on the shortlist to be the next chairman of the BBC Trust, according to two insiders who have seen the document. Lord Patten, former Conservative party chairman and the last governor of Hong Kong, is clear favourite. But Sir Howard Davies, director of [...]
More Lib Dems exposed December 22, 2010 FURTHER lurid comments emerged from Liberal Democrat ministers’ secretly-taped conversations yesterday. Ministers criticised Prime Minister David Cameron and chancellor George Osborne’s privileged backgrounds and described them as untrustworthy, new exerpts from conversations with undercover Telegraph reporters revealed. Deputy leader of the House David Heath, said Osborne had “a capacity to get up one’s nose” and [...]
The Power Hundred draw results December 22, 2010 Congratulations to seven of our readers who have each won a pair of flights from CityJet airport after taking part in our competition to help choose the CityJet/City A.M. Power Hundred, published yesterday. The winners are: Paul Schofield, Andrew Burke Walsh, Michael Ellis, David Doumani, Natalia Poupar, Alice Burden and Natalie Block. There were 176 [...]
US GDP growth revised upwards December 22, 2010 American GDP growth was revised only slightly upwards for the three months to September, it was revealed yesterday. Compared to the same time the previous year, the economy grew by 2.6 per cent, up just 0.1 per cent from the previous estimate. Economists had expected a larger revision, yet weak consumer spending deflated the figures. [...]
Chi-X Europe and BATS in exclusive talks December 22, 2010 TWO of Europe’s biggest alternative equity trading venues are in exclusive talks, it was announced yesterday, in a sign that the sector is starting to consolidate. BATS Global Markets, which operates the third-largest US stock exchange and Europe’s second-biggest alternative trading platform, is in talks to buy Chi-X Europe, Europe’s second-largest stock exchange. The two [...]
Aston Martin joins Daimler on new car December 22, 2010 ASTON Martin is in talks with Daimler over a potential partnership that would see the British luxury carmaker design and build the German company’s Maybach brand. Aston Martin, renowned for making vehicles driven by James Bond, is expected to take engine technology from Daimler in exchange for building cars – potentially halving the cost of [...]
