ANALYST VIEWS: WHAT NEXT FOR THE PROPERTY MARKET? December 19, 2010 ALAN CLARKE | BNP PARIBAS “I think it will be a year of two halves – a modest decline in prices in the first half, ending about five per cent down by mid-year: not too terrible. The market will then have bottomed out and start to regain ground.” YOLANDE BARNES | SAVILLS “London has slowed [...]
Ladbrokes to take a punt on rival 888 December 19, 2010 BOOKMAKER Ladbrokes is preparing a £240m takeover approach for online casino and poker group 888. The betting company is understood to be considering a 70p-a-share deal to buy the online firm, in the first major takeover by new chief executive Richard Glynn. Glynn, who joined from spread-betting firm Sporting Index earlier this year, is understood [...]
Emerging markets can give us all Christmas cheer December 19, 2010 WITH temperatures dropping to -15C and snow making it impossible to get to shops to fill those all important stockings, it’s hard to partake in this year’s Christmas cheer. It’s even harder to be jolly after a year that promised the beginnings of great things, which never came. But hope is the mantra for the [...]
CITY MOVES | WHO’S SWITCHING JOBS December 19, 2010 Navigant Consulting Howard Gendler (pictured) has been promoted to managing director of Navigant Consulting. He currently leads the business’ international development efforts, with a primary focus on disputes and investigations. Gendler has over 25 years’ experience directing sales and IT for European and US clients. He joined Navigant from Milnet, a litigation support firm, and [...]
IG in talks to sell sports division December 19, 2010 Spread betting company IG Group is reportedly in talks with bookmaker Star Sports to sell Extrabet, its sports gambling division. IG hired financial advisory firm PwC during the summer to help dispose of Extrabet, though it is unclear whether there are rival potential buyers involved in talks. Sports bets make up just two per cent [...]
Enterprise tsar is scrapped December 19, 2010 The government is said to have scrapped the position of enterprise tsar, following Lord Young’s resignation last month over his “so-called recession” remarks. Downing Street has said there are no plans to replace Young and that his role, including a review into bureaucracy, would come under the remit of business minister Mark Prisk. The position [...]
Fire project goes up in smoke December 19, 2010 Plans to consolidate fire control rooms in England are hanging by a thread after it emerged that the government is considering legal action against IT contractor EADS. The firm was hired in 2007 to build nine regional fire control centres to replace the existing local control rooms for £423m. A spokesperson from the department of [...]
City lawyers slam OFT reform December 19, 2010 The City of London Law Society has warned the government that merging the Office of Fair Trading with the Competition Commission could damage efficiency and fairness. The society, which counts City law firms Allen & Overy and Norton Rose among its members, wrote to the Department of Business, Innovation and Skills claiming the existing two-tier [...]
PEPSI SEALS X-FACTOR DEAL December 19, 2010 SOFT drinks company PepsiCo has signed up to sponsor the US version X Factor (which is expected to star Cheryl Cole, pictured) when it launches in the US next autumn. It will follow in the footsteps of rival Coca-Cola, which pays up to $35m (£22.51m) a year for its products to appear on another music [...]
BAE hits out over carrier controversy December 19, 2010 ARMS giant BAE Systems has moved to defend a £3.8bn deal to build two new aircraft carriers for the Royal Navy, ahead of potential revelations about the controversial programme and government efforts to cut it back. BAE, which is building the carriers in an alliance with defence firms Babcock and Thales, warned that any decision [...]
