Sky to broadcast from the City February 21, 2010 Broadcaster Sky News is today due to move into its new studio in the iconic Gherkin tower building at 30 St Mary Axe, in the heart of the City of London. The studio will host the weeknight business news programme Jeff Randall Live and will begin broadcasting from tonight, when Conservative leader David Cameron is [...]
Praesepe mulls Beacon purchase February 21, 2010 Beacon, the operator of some of the biggest bingo clubs in the UK, is on the verge of being sold to Aim-listed high street gaming group Praesepe in a deal worth around £45m. The entertainment group, which owns the Beacon Bingo club and Showboat amusement arcade chains, was taken over last year by its lenders, [...]
Torus gets £120m cash boost February 21, 2010 Torus Insurance, the business led by industry veteran Clive Tobin which is one of London’s fastest growing insurers, has received a £120m cash injection from American private equity investors to fund its underwriting operations. Torus was launched 18 months ago with a skeleton staff of 20. Its headcount has already grown to 260 and investment [...]
Finding a solution to the problems of old age February 21, 2010 FOR TOO long the issue of long-term care for the elderly – one of the most important challenges facing our generation – has remained unresolved. Last week, as it shot up the news agenda following public disagreements between all three major political parties, it became clear that this issue will now, quite rightly, be a [...]
Tokyo happy Toyota February 21, 2010 JAPAN’S transport minister, Seiji Maehara, has expressed relief at Toyota president, Akio Toyoda’s decision to testify in US Congressional hearings on Wednesday. “It’s good that he has decided to accept [the invitation]. This is a safety issue on which people’s lives depend and it’s a manufacturers duty to respond firmly,” minister Seiji Maehara told a [...]
Severn Trent latest to back Diplomas February 21, 2010 UTILITIES giant Severn Trent is the latest employer to join a network of 250 companies supporting Diplomas, a government-backed programme designed to help teenagers prepare for the workplace. Severn Trent chief executive Tony Wray has joined a growing number of organisations supporting the programme, including House of Fraser, the British Chambers of Commerce and Chartered [...]
BEST OF THE BROKERS February 21, 2010 HENDERSON Evolution forecasts full-year earnings will fall despite higher market levels boosting second-half profits. It forecasts net new money of £300m, is concerned about future capital requirements and progress on the New Star transaction and market volatility means it remains cautious over short term growth credentials. “Reduce” is the rating. REED ELSEVIER S&P reiterates its [...]
CITY MOVES | WHO’S SWITCHING JOBS February 21, 2010 PricewaterhouseCoopers The accountancy giant has taken on banking veteran Martin Allison as a director to head up its debt advisory services team in the North. Allison started his career at NatWest before working his way up the ladder to become head of international banking services at RBS until 2008. He has recently pursued a more [...]
All eyes on Ben Bernanke’s testimony to Congress February 21, 2010 A QUICK look at last week’s performance data for European equities and bonds would suggest at first glance that the economic outlook for Europe had improved. The DAX and FTSE tacked on gains while German and UK bond yields moved higher. However, looks can be deceiving: we received a barrage of weak UK economic data [...]
ECONOMIC DIARY February 21, 2010 AFTER a week packed with economic data releases, the next five days promise to be a bit quieter. Last Thursday, the US Federal Reserve hiked the rate it charged banks to hold reserves in a surprise move that signalled a return towards more normal monetary policy. On Wednesday Fed chairman Ben Bernanke will be giving [...]
