CITY MOVES | WHO’S SWITCHING JOBS October 12, 2010 Virgin Atlantic The airline has appointed its chief financial officer Julie Southern as chief commercial officer, a newly-created board position. Southern will now take responsibility for all aspects of growing the airline. She originally joined Virgin Atlantic a decade ago from Porsche Cars Great Britain, where she was group finance director. Current finance director Tim [...]
PRIVATE JET PROFITS TAKE OFF October 12, 2010 PRIVATE aircraft broker Air Partner has posted before tax profits of £3.5m for the year ending 30 July 2010, putting the figure ahead of market expectations of £3m. The group, said it is fully committed to its broking business, which has remained profitable through the recession. Air Partner said that it has completely closed its [...]
Google in wind farm venture October 12, 2010 Google has thrown its financial clout behind an ambitious $5bn (£3.16bn) proposed electric transmission line intended to spark investment in new wind farms off the heavily populated US East Coast. The move, which comes at a time when about a dozen wind projects have been proposed off the eastern United States but none have been [...]
PM GIVES GREEN LIGHT TO MORE QE October 11, 2010 DAVID Cameron yesterday insisted the government would not delay spending cuts if the recovery starts to slow, but gave his strongest hint yet that he would support another round of quantitative easing. Describing himself as a “fiscal conservative but a monetary activist”, the Prime Minister used his first official press conference to play down suggestions [...]
Tuition fee cap is set to be axed October 11, 2010 THE cap on university tuition fees should be abolished but graduates should be spared from having to repay them until they earn a minimum of £21,000 a year. These are the key recommendations that will be put forward by Lord Browne, the former BP chief executive, in his much-anticipated report into the funding of higher [...]
Key BBC exec gets the chop October 11, 2010 BBC deputy director general Mark Byford is to be made redundant and will leave the corporation in March 2011 as the broadcaster tries to address criticisms that it has become bloated and pays excessive salaries to its senior executives. Byford is understood to be the first casualty of the review of the corporation’s management structure, [...]
Meddling with forex markets is risky October 11, 2010 ONE of the biggest problems in the City today is that so few people have worked in financial markets long enough to remember how things used to be just 25 years ago. This damaging lack of a collective memory helps to explain why so many investors remain so relaxed about the prospect of currency wars [...]
Reds expect legal win to end Lim hope October 11, 2010 LIVERPOOL will stride into today’s potentially seismic High Court hearing confident their £300m deal with New England Sports Ventures is watertight, despite talk of a rival bid from Asian billionaire Peter Lim. Singapore-based Lim, whose initial bid was snubbed in favour of NESV’s offer, made it known yesterday that he has not given up on [...]
Liverpool saga could run into next week October 11, 2010 LEGAL sources close to Liverpool’s ownership battle have told City A.M. that today’s hearing is likely to be only the beginning of a lengthy process. A quick verdict is not expected and, after a discussion about timings, the case is thought likely to be adjourned until later this week or early next week. Even if [...]
Westwood and Kaymer, men of the moment October 11, 2010 CONGRATULATIONS are due to Lee Westwood, who is set to replace Tiger Woods as world No1 later this month. It’s fantastic news for a player who has been at the top of his game for some time now. Westwood might not have finished high enough at the Alfred Dunhill Links Championship at the weekend to [...]
