Ackermann lined up to be Deutsche Bank chairman July 24, 2011 DEUTSCHE Bank chief executive Josef Ackermann will replace Clemens Boersig to become the bank’s supervisory board chairman when he steps down from his role as chief executive, a German newspaper has reported. Boersig is ready to vacate the role for Ackermann and will likely step down at the next annual general meeting (AGM) in May [...]
The City needs to think global July 24, 2011 THE hacking scandal has dominated the headlines in recent weeks, but unfortunately that does not mean the challenges facing the global economy have disappeared – far from it. Concerns continue over the UK recovery, the Eurozone crisis, and the protracted discussions on raising the US debt ceiling remain, even if the media spotlight has shifted [...]
Twitter fundraising gives it valuation of over $8bn July 24, 2011 A NEW round of funding is set to value microblogging site Twitter at a staggering $8bn (£4.9bn). It is understood Russian investment firm Digital Sky Technologies (DST) will take a stake of around $400m, with another $400m being split between other investors. US fund manager T Rowe Price will invest up to $90m in the [...]
Why glasses must be half full July 24, 2011 IT’S a gloomy business being gloomy and it gets me down. Markets may have risen substantially since the market low in March 2009 but there’s still no shortage of doomsayers out there. They soberly point out that we have just spent two years shuffling debt around the global economy, point to inherent weaknesses in a [...]
Tightest squeeze on income since 2009 July 24, 2011 BRITONS’ incomes faced their tightest squeeze in two and a half years in July, as the rising cost of living and high personal debt weighed down on household budgets. Over a third (38 per cent) of people reported a deterioration in their household’s finances compared to just a month earlier, according to a poll by [...]
Small companies holding back on new investment July 24, 2011 COST pressures and weak domestic demand are preventing small businesses from investing in future growth, a survey by Lloyds TSB unveiled today. Fewer than one in five firms expect to boost their level of investment over the next six months, while slightly more (21 per cent) are planning cuts. The negative balance (minus two per [...]
More shop chains winding up July 24, 2011 THE number of retail companies which plunged into administration in the second quarter of this year increased by eight per cent compared with same period last year, according to figures from Deloitte. A total of 43 were affected, with household names like Oddbins and Focus being hit by the downturn in consumer spending. Moben, Habitat [...]
Red tape hinders flexible working in UK’s factories July 24, 2011 CONSTANT tinkering with employment regulation is hindering flexible working practices in the UK’s factories, a leading industry body will argue today. As the coalition launches the manufacturing stage of its Red Tape Challenge – which invites companies to nominate harmful regulations that should be scrapped – the EEF has called on the government to “avoid [...]
Higher sales prevent house price plummet July 24, 2011 RISING sales are preventing house prices from sinking significantly further, the latest Hometrack survey reveals this morning. A 20 per cent upturn in sales over the last two months has kept prices from dropping at a sharper rate, the group said, reporting only another slight (0.1 per cent) decline in prices for July. “Prices are [...]
OLYMPIC SURGE FOR EAST LONDON HOMES July 24, 2011 HOUSES in east London have seen their value rise by an average of £192 per week or 28 per cent since London won its bid for the Olympic Games in 2005, Lloyds TSB announced today. Yet the main price spikes were in Homerton, Dalston and Bethnal Green, while price increases around the Stratford site have [...]
