Sandy Chen mulls opening his own bank September 6, 2009 SANDY Chen, one of the City’s most respected banking analysts, is the latest financier to consider upping competition in the Square Mile by setting up his own bank. Panmure Gordon analyst Chen is understood to be in conversations with potential investors for the bank, which has yet to be named, and could raise around £100m [...]
BILL OF THE WEEK September 6, 2009 IT’S over to Westminster for this week’s bill, which came from a little Italian restaurant, Quirinale, tucked away beside the Institute of Economic Affairs and beloved of Parliamentary types wanting to keep a low profile. Our five diners attacked their meal with gusto, eating beef carpaccio, bresaola, pork saltimbocca, salmon, risotto and tiramisu, and washing [...]
WORKAHOLIC MYNERS IS FORCED TO CALL TIME ON HIS GREAT LOVE September 6, 2009 MIXING one’s other half with one’s work has always been a risky affair, largely because loved ones have a tendency to be prone to letting things slip – and The Capitalist imagines that City minister Lord Myners won’t be hugely enamoured to read his wife Alison’s upcoming interview with Tatler magazine, which hits newsstands on [...]
Alchemy plays down Moulton damage September 6, 2009 ALCHEMY Partners is holding frantic talks with its investors to persuade them to stay on as clients at the firm, after the spectacular resignation of its managing partner Jon Moulton last week. The private equity firm is telling investors that Moulton, the investment guru who founded it in 1997 but slammed it in a scathing [...]
BAE given just weeks to file a guilty plea September 6, 2009 DEFENCE giant BAE Systems has until the end of the month to plead guilty to international bribery allegations or face a lengthy and damaging criminal trial, industry sources have said. It is understood that the allegations, part of a six-year Serious Fraud Office (SFO) investigation, involve contracts worth over £2.5bn for the sale of equipment [...]
Aquascutum lures bid from Jaegar veteran September 6, 2009 JAEGER fashion chain chairman Harold Tillman is considering a bid for 158-year-old fashion brand Aquascutum. The tailoring company, famous for its trench coats, would likely fetch less than the £100m its current owners – the Japanese clothing manufacturer Renown – paid for it in 1990. Alan Lewis, the owner of clothing brand Crombie, is also [...]
Summer sales data to reveal retail outlook September 6, 2009 RETAILERS are set to provide fresh evidence of consumer confidence this week in a series of market updates. In a bid to revive the ailing retail sector the West End is launching High Street Fashion Week today in an effort to attract a predicted 2.4m shoppers to Oxford Street. ABF Foods, Primark’s owner, will today [...]
Why holding its nerve has paid off for Britain’s top accountancy firm September 6, 2009 LOOKING out of the window of his Embankment office, Ian Powell points at the sky above the London Eye. “It’s a bit cloudy,” he says. “But there’s sun on the horizon.” The same could be said of the outlook for PricewaterhouseCoopers, the largest of the “big four” professional services firms, which Powell has chaired since [...]
Five’s landmark gambling deal September 6, 2009 Broadcaster Five has inked a landmark deal with Netplay the interactive gambling group, that will allow viewers to bet thousands of pounds on a live real-time roulette show from their own homes. The shows will be broadcast three nights a week between midnight and 4 am, and extended to six nights in October and every [...]
London Midland cancels trains September 6, 2009 Train company London Midland yesterday caused chaos on the rail network as it cancelled all but one of its Sunday services, causing extended disruptions to thousands of passengers. The firm, which operates over 1,200 services per day to 149 stations across the country, said the crisis came about after not enough of its drivers agreed [...]
