John Cridland wants to get UK building again November 15, 2012 JOHN Cridland is one of the few people who could get excited by the prospect of working next to a building site for six years. The view from his office window in London’s Centrepoint building is currently a mess of cement mixers, trucks and cranes as the Crossrail construction crews set about transforming Tottenham Court [...]
World gold demand slides on slowdown in Chinese economy November 15, 2012 GLOBAL gold demand dropped 11 per cent in the three months to September from record levels seen in the same period last year, dampened mainly by fading Chinese fervour as its economy slowed, with stronger Indian demand stemming a larger fall, the World Gold Council said yesterday. Chinese gold consumption fell eight per cent in [...]
Viacom profits up despite lack of blockbuster November 15, 2012 THE OWNER of MTV and Paramount, Viacom, yesterday said that it had defied slipping box office revenues and lower ratings at its TV networks to reach a $643m (£405m) profit in the third quarter of the year. This 12 per cent year-on-year rise came despite revenues falling 17 per cent to $3.4bn. The firm’s cost-cutting [...]
Executive Offices sign lease on Atlas House November 15, 2012 EXECUTIVE Offices Group, the upmarket office space provider, has signed a deal to take up four floors of Atlas House in the City, which it plans to revamp and run as offices. The group, which was acquired by Morgan Stanley’s real estate fund in 2005 for £220m, has signed a 15-year lease on the 19th [...]
Who’s switching jobs November 15, 2012 Maurice Turnor Gardner The law firm has announced the appointment Sarah Conway as partner in its residential property practice, effective January 2013. She joins from Allen & Overy, where she has worked since 1998. Conway has also held the partnership at Carruthers & Co, and focuses on residential property transactions for high net worth clients. [...]
Best of the Brokers November 15, 2012 ICAP Canaccord maintains its “hold” rating for the voice and electronics dealer, decreasing its target 10 per cent to 300p. The broker expects growth to remain stagnant for the rest of the financial year. MONEY SUPERMARKET UBS has a “buy” rating on the price comparison site and has raised its target from 160p to 170p, [...]
FTSE hits two-month low as fears over Eurozone drive sharp sell-off November 15, 2012 BRITAIN’S top share index fell to a fresh two-month low yesterday, as news that the Eurozone had fallen back into recession provided an impetus to break out of recent ranges. The UK blue-chip index was down 44.26 points, or 0.8 per cent, at 5,677.75 at the close, finishing below 5,700 for the first time in [...]
Weak Wal-Mart sales weigh on jittery Wall St November 15, 2012 US stocks were little changed yesterday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales. The S&P 500 is down nearly two per cent for the week, adding to last week’s selloff and eroding more of [...]
Forget Grexit and Spexit: Brixit is looming over the European Union November 15, 2012 FORGET Grexit, Spexit or any other possible departures from the euro. Despite yesterday’s news that the Eurozone is now back in recession, the markets should focus on another potential exit. The Brixit – a British departure from the European Union. For the first time in a generation it’s realistic. But would it hurt the UK [...]
Michael Gove is courageously recovering our ancient tradition of learning November 15, 2012 IN 75 BC, when the great Roman politician and champion of liberal learning Cicero was quaestor in Sicily, he led an expedition to a neglected, overgrown jumble of funerary monuments just outside the city of Syracuse. Directing men with scythes to cut away the briars, he uncovered the tomb of Archimedes, lost for more than [...]
