Broadgate victory is great first step June 15, 2011 IT is merely a small, symbolic victory in a much bigger battle against red tape but it is great news that Jeremy Hunt will today announce that he won’t be listing Broadgate Estate, as we reveal on our front page. English Heritage’s indefensible bid to protect this unexceptional complex around Liverpool Street station, built in [...]
BUREAUCRATS LOSE BROADGATE BATTLE June 14, 2011 VICTORY FOR CITY A.M. CAMPAIGN CULTURE secretary Jeremy Hunt will not save the Broadgate estate from demolition, City A.M. can reveal, marking a victory for our campaign against bureaucrats that wanted to protect the site. Hunt is expected to announce today that he is rejecting advice from conservation body English Heritage, which recommended that the [...]
Osborne to endorse ring-fencing of high street banks June 14, 2011 GEORGE Osborne will tonight endorse plans for British banks to ring-fence their retail operations from their investment banking arms. The chancellor will use his annual Mansion House speech to the City to back the so-called “subsidiarisation” plan, which was contained in the Independent Commission on Banking’s (ICB) interim report. Under the model, the Treasury will [...]
Teachers vote for walk outs June 14, 2011 TEACHERS have become the latest group of public sector workers to vote for strike action, threatening to bring Britain to a halt over the summer. Members of the National Union of Teachers (NUT) and the Association of Teachers and Lecturers (ATL) are threatening to stage walkouts on 30 June. NUT general secretary Christine Blower said: [...]
Broadgate victory is great first step June 14, 2011 IT is merely a small, symbolic victory in a much bigger battle against red tape but it is great news that Jeremy Hunt will today announce that he won’t be listing Broadgate Estate, as we reveal on our front page. English Heritage’s indefensible bid to protect this unexceptional complex around Liverpool Street station, built in [...]
JP Morgan loses Lowman June 14, 2011 US banking giant JP Morgan’s mortgage chief David Lowman has left the bank after it overcharged active US military personnel on their home loans. His departure comes just four months after another executive was drafted in to manage the lender’s mortgage unit over him. Lowman, who joined JP Morgan from Citigroup in 2006, had been [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 14, 2011 FINANCIAL TIMES RBS TAKES CONTROL OF 42 MARRIOTT HOTELS Royal Bank of Scotland has taken control of a £1bn property portfolio of Marriott hotels after failing to secure a debt-for-equity restructuring of one of its largest individual real estate loans made during the property boom. RBS on Tuesday night appointed Ernst & Young as receivers to [...]
Price of gold to soar to $5,000 June 14, 2011 Standard Chartered bank has tipped the price of gold to soar as high as $5,000 (£3,051) per ounce by 2020. The bullish view of the gold market indicates the perceived security of the commodity among investors, who have rushed to the precious metal since the financial crisis. The bank says limited gold production, the gold [...]
BIS advising on Southern Cross June 14, 2011 Mandarins from the department of health have been advised by the government’s corporate finance unit – the business department’s Shareholder Executive branch – ahead of a crunch meeting today with embattled care home operator Southern Cross. The struggling firm will meet with the government, as well as landlords and HM Revenue & Customs, to discuss its future [...]
Wealth firms attacked by watchdog June 14, 2011 BRITAIN’S financial watchdog has warned wealth management firms over the way they invest client money, prompting an angry response from the industry. The Financial Services Authority (FSA) said it had found “significant, widespread failings” in the industry that put the interests of customers at risk. The regulator warned 260 wealth managers in a letter yesterday [...]
