France blames al-Assad for chemical attack September 2, 2013 FRANCE yesterday said Syrian President al-Assad was undoubtedly responsible for last month’s chemical weapons attack, as Downing Street ruled out direct UK military intervention. French Prime Minister Jean-Marc Ayrault said there had been a “massive use” of chemical agents in the attack on a Damascus suburb and published intelligence that claims only the Syrian regime could have [...]
IoD pans Royal Mail strike vote September 2, 2013 THE INSTITUTE of Directors yesterday hit out at an upcoming Royal Mail workers’ vote on strike action, saying a strike would be “unjustified, highly irresponsible and would hit businesses hard”. The Communication Workers Union yesterday said it will ballot for a national postal strike on 20 September, unless disputes regarding pay and the impact of [...]
Barclays close to rights issue September 2, 2013 BARCLAYS in planning to get its £5.8bn rights issue away within the fortnight, City A.M. understands. The lender is issuing the new shares to improve its capital position, as it is under pressure from the Bank of England to get to a three per cent leverage ratio. The bank is believed to be targetting the [...]
What the other papers say this morning – 03 September 2013 September 2, 2013 FINANCIAL TIMES Dering Capital leads race for TDF Blackstone Group’s former top executive in Asia has emerged as the leading contender to buy the French assets of Europe’s largest telecoms tower operator TDF in a deal worth up to €3.8bn (£3.22bn). Dering Capital, started by Ben Jenkins after he left the US private equity group [...]
Factories grow as output soars to 19-year high September 2, 2013 BRITISH manufacturing surged in August, with growth outstripping the Eurozone and output reaching levels not seen for nearly two decades. Markit’s purchasing managers’ index (PMI) for the sector leapt to 57.2, with any figure above 50 indicating growth. The headline reading is the highest since early 2011, but the expansion of both output and new [...]
World’s biggest banks face new multi-billion capital demands September 2, 2013 THE BIGGEST banks in the world could face another round of capital raising after Mark Carney warned some have been underestimating the risks on their books. In the wake of the financial crisis lenders have had to increase their equity capital buffers by $500bn (£322bn) as part of a plan to give themselves a cushion [...]
Entertainment One set to pick Allan Leighton as new chairman September 2, 2013 CITY heavyweight Allan Leighton is in line to take the top job at media group Entertainment One, it emerged last night. The ex-Royal Mail chairman and former Asda chief executive is reported to be preparing to take the job at the business which co-owns television sensation Peppa Pig, and which backed the Twilight film series. The [...]
Walkie Talkie has few design solutions as beam warms shops to 70°C September 2, 2013 EXPERTS yesterday said the hot ray of light reflected by the Walkie Talkie is on an “unprecedented” scale – as City A.M. found the heat on Eastcheap in mid-afternoon is hitting 70°C. “I’m flabbergasted,” said Dr Philip Oldfield, an expert in tall buildings at the University of Nottingham’s Department of Architecture, who warned other parts of [...]
Walkie Scorchie sets carpet on fire, cracks tiles and melts paint September 2, 2013 THE GREAT Fire of London began on Pudding Lane on 2 September 1666. And yesterday – exactly 347 years later – there was once again smoke in the vicinity, as the Walkie Talkie’s beam of hot light set the carpet of a nearby barber shop on fire. “We want the developer to fix it somehow,” Ali Akay of [...]
Eurozone factories back to solid growth for first time since 2011 September 2, 2013 MANUFACTURERS in the euro area saw the strongest growth for over two years last month, with Spain’s factories growing for the first time since early 2011. According to Markit’s manufacturing purchasing managers’ indexes (PMI), this is the fourth month of growth for the Eurozone’s producers overall, and the first for the embattled Spanish economy since [...]
