Deutsche hires in Birmingham as it cuts back in expensive City November 26, 2012 GERMANY’S Deutsche Bank has hired up to 50 new front office staff in Birmingham as the firm’s efficiency drive forces it to look at less expensive operations centres than London. The fixed income and equity sales workers will focus on serving smaller clients – those which it may not have been cost effective to serve [...]
Slaughter and May picks Richard Clark as next executive partner November 26, 2012 MAGIC Circle law firm Slaughter and May said yesterday it has chosen disputes resolution head Richard Clark as its next executive partner, stepping into Graham White’s shoes when he retires next year. Clark will take up responsibility for the firm’s overall management strategy from 1 May 2013, having joined Slaughters 30 years ago as a [...]
Government slammed over flood insurance November 26, 2012 HEAVY rain continued to bring misery to swathes of the UK last night – as the government locked horns with the insurance industry over the future of domestic flood cover. A week of poor weather has closed dozens of major roads, while some rail links are out of action and hundreds of homes have been affected. [...]
Emerging economies face catastrophe threat November 26, 2012 COUNTRIES with high-growth economies could see their progress derailed by natural disasters, according to research released today. It finds that emerging nations such as Vietnam, China and India do not have enough insurance to cover the effect a major natural catastrophe, leaving the countries at risk of long-term economic damage if they are severely affected [...]
Should homes at risk of floods be given insurance subsidies? November 26, 2012 ANTHONY LEECH AGRICULTURAL BANK OF CHINA It is very difficult to find insurance when you are continually flooded out. It is up to the government and locals councils to ensure that areas at risk are protected and some subsidy should be provided if they are not. GEORGE BROWN SHELL I don’t think there should be [...]
UBM flies back to UK after near unanimous vote November 26, 2012 PUBLISHING company UBM will move its tax base back to Britain by the end of the week after shareholders overwhelmingly voted for the return from Ireland yesterday. The transition was emphatically approved at a special meeting, with 99.997 per cent of votes cast in favour of the move. The former owner of the Daily Express [...]
UBS fined £30m by watchdog over £1.4bn rogue trader loss November 26, 2012 SWISS bank UBS, which last week saw former trader Kweku Adoboli jailed for a £1.4bn trading fraud, was fined £29.7m by regulators yesterday for failing to prevent the scandal. The Zurich based bank, which lost its chief executive Oswald Gruebel over the trading debacle, managed to reduce an original fine of £42.4m the Financial Services [...]
Lehman set to sell off biggest asset Archstone November 26, 2012 LEHMAN Holdings is set to sell apartment owner Archstone, it announced yesterday, in a cash and shares deal worth roughly $6.5bn (£4.05bn). Lehman Brothers bought the company, which at the very peak of the housing boom was worth around $22bn. But it will now get just $2.7bn of cash and $3.8bn of shares from developer [...]
Amazon’s UK sales revealed by committee November 26, 2012 AMAZON made £3.351bn in revenues in the UK last year, private letters published by the government’s Public Accounts Committee (PAC) revealed yesterday. Information shared by the web retailer with the committee, intended to be confidential, revealed a 23 per cent rise in sales on Amazon.co.uk last year. The UK’s website, which channels revenue to Amazon’s [...]
UK e-tail is paying off all round November 26, 2012 THE UK component of Amazon’s European revenues is a startling figure. Amazon’s sales hit €9.1bn (£7.3bn) across the continent last year. The new data shows it took in £2.91bn, or almost 40 per cent, from amazon.co.uk alone, and another £441m from other UK business such as Lovefilm. With Amazon getting 45 per cent of its [...]
