Shaftesbury shops provide profit jump November 30, 2010 WEST END property company Shaftesbury posted double-digit growth in its asset value for the full-year yesterday, and said it expected strong demand for its shops, pubs and restaurants to continue. Shaftesbury also said it was hunting for a new chief executive, after current boss Jonathan Lane announced his intention to retire in 2011 after 24 [...]
Currency gains boost London housing market November 30, 2010 OVERSEAS investors continue to pile into London real estate, thanks to increasingly favourable exchange rates and soaring rental values, according to research seen by City A.M. Foreigners currently buy 72 per cent of all central London homes on the market, said a report by Hamptons International, up from 60 per cent at the peak of [...]
THE TRUTH BEHIND THE BAILOUT IN IRELAND November 30, 2010 SHORT of holding a gun to his head, how did the IMF persuade Brian Cowen to accept Ireland’s €85bn (£72bn) bailout, just hours after he denied the country was in financial trouble? Well, according to a new Taiwanese news animation, holding a gun to his head was exactly what it did. The same firm that [...]
Hogg Robinson sees boost from recovery November 30, 2010 CORPORATE travel firm Hogg Robinson yesterday reported first-half profit more than doubled, adding its full-year outlook would see it finish ahead of market expectations. The firm said operating profit was £19.5m, up 73 per cent, from £11.3m last year, with an improving economy boosting business travel. Revenue was up nine per cent from £155.3m last [...]
BESI opts to buy Execution November 30, 2010 CITY broker Execution Noble announced yesterday that Portuguese investment bank Banco Espirito Santo de Investimento (BESI) had acquired a majority stake in the firm for an undisclosed sum. BESI, the investment banking unit of Banco Espirito Santo (BES) has taken a 50.1 per cent stake in the broker with the remaining shares being held by [...]
Champion Trader – Last Day Trading November 30, 2010 The last day trading is here and jasonkhan’s unbelievable work over the last few days has bought him a lead approaching £100,000, the favourite to become our Champion Trader. The tournament closes at 17.30 GMT today and the overall winner will take the £6,000 top prize. The top ten will be announced tomorrow in City [...]
US bailout to cost $25bn November 30, 2010 THE US Troubled Asset Relief Programme (Tarp), which risked up to $700bn (£450bn) of government funds to bail out troubled banks and automakers, will cost taxpayers a mere $25bn, according to an estimate released yesterday by the nonpartisan Congressional Budget Office (CBO). CBO’s latest assessment of the widely reviled programme is lower even than the [...]
Obama hit by split on tax cuts November 30, 2010 US President Barack Obama said last night he still disagreed with Republicans on whether to extend Bush-era tax cuts for the wealthiest Americans, but the two sides agreed to negotiate a deal in the coming days. Obama said he appointed Treasury secretary Tim Geithner and budget director Jack Lew to work with congressional Republicans and [...]
Goldman code theft case starts November 30, 2010 A FORMER Goldman Sachs computer programmer charged with theft of a valuable speed-trading code did not, and could not, harm Wall Street’s most influential bank, his lawyer told a jury yesterday. But a federal prosecutor told jurors Sergey Aleynikov stole critical parts of Goldman’s top-secret high-frequency trading programme because he would earn hundreds of thousands [...]
Barnier hauled in front of influential MPs November 30, 2010 MICHEL Barnier, the internal market commissioner for the European Commission (EC), will appear before a potentially hostile group of MPs on Monday week, it emerged yesterday. Barnier’s initial reluctance to come before the Treasury Select Committee caused chairman Andrew Tyrie to appeal to the EC president Jose Manuel Barroso. Tyrie was frustrated by Barnier’s suggestion [...]
