Former Goldman Sachs chair to join Department for Education July 28, 2013 FORMER Goldman Sachs Asset Management chairman Jim O’Neill has been drafted in to work alongside Michael Gove as a Department for Education (DfE) non-executive director. O’Neill, who is famed for coining the Bric term for developing nations Brazil, Russia, India and China, will take up the post in September, the department stated last night. The [...]
Employment tribunal costs condemned July 28, 2013 NEW employment tribunal costs being introduced today have been roundly criticised by both unionists and employer groups. Berwin Leighton Paisner partner Fraser Younson said: “The employment tribunal’s fees scheme was introduced by the government with the dual objectives of cutting the costs to the taxpayer of an increasing number of tribunal claims and also to [...]
City Moves for 29 July 2013 | Who’s switching jobs July 28, 2013 KPMG The professional services firm has announced the appointment of James Wakelin to its real estate advisory team. Wakelin has 11 years’ experience in real estate investment and financing. He was most recently at Pacific Real Estate Capital Partners, where he was a director. Prior to that, he was a director at UBS Investment Bank, [...]
Best of the Brokers for 29 July 2013 July 28, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com PEARSON S&P Equity Research has a “hold” rating and raises its target to 1,400p following the publishing giant’s first-half results. The analyst thinks Pearson’s plan to sell Mergermarket is a step in the right direction, but that the firm’s insistence on keeping [...]
London Report: UK’s corporate calendar packed in results season July 28, 2013 THE CORPORATE calendar is packed this week, as businesses including ITV, BP, Lloyds, Barclays and Royal Bank of Scotland update the market amid a swathe of other results. The week begins with figures from Fidessa Group, Hammerson, InterContinental Hotels Group, Intertek Group, JKX Oil & Gas, Keller Group, Senior, Vernalis, Reckitt Benckiser Group, National Grid, [...]
Wall St The Week Ahead: Wall St awaits jobs, Fed and earnings news July 28, 2013 THIS week on Wall Street could be a summer blockbuster, with the roster featuring a triple bill: the Fed, jobs and earnings. Of the three, the Federal Reserve has the most potential to upset the market. The Federal Open Market Committee is expected to release a statement on Wednesday after a two-day meeting. Fed chairman [...]
Forget disastrous Heathrow and build a more efficient hub to London’s east July 28, 2013 AIRPORT policy is getting a lot of headlines, as different organisations (including the airports themselves) make their submissions to the Airports Commission. That attention is well-deserved, because it is a subject that is critical to our economy and its future. Much of our most valuable trade moves by air, and relationships with emerging markets are [...]
City Matters: Why the City must vocally support crucial reforms to the European Union July 28, 2013 ANOTHER week, and another chapter in the debate over the UK’s membership of the EU. The first report from the government-commissioned study into the balance of competences between London and Brussels, released last week, claimed that the status quo is broadly correct in six key policy areas. But perhaps more significantly, Japan and Australia also [...]
Why we musn’t fear the rise of emerging market state-backed champions July 28, 2013 WHAT do Airbus, Michelin, Hyundai, NEC, Samsung, Singapore Airlines, Volkswagen, and LG have in common? They all started life as national champions, companies supported by the state while their countries emerged from the ravages of war. Although advanced economies have rightly shifted away from the model, the achievements of these firms in the global marketplace [...]
Letters to the Editor – 29/07 – Church loans, China economy, Best of Twitter July 28, 2013 Church loans [Re: Church of England launches probe into link with Wonga, Friday] The Church should be applauded for the proposed venture into the payday lending market. Its decision is laudable not because there is anything evil about Wonga, nor because of the supposed moral desirability of constraining reckless capitalism. The archbishop’s intention to outcompete [...]
