Xstrata delays merger meeting July 5, 2012 Mining group Xstrata yesterday called off a shareholder meeting on 12 July intended to approve its £56.5bn merger with Glencore, in order to give the firms more time to smooth relations with irate shareholders. Qatar, which holds an 11 per cent stake in Xstrata, has in recent weeks been pushing management for 3.25 new shares [...]
Paul Tucker says no to christian names July 5, 2012 LEAVING aside the intricacies of who knew what when in the Libor interest rate rigging scandal, almost everybody has agreed that former Barclays chief executive Bob Diamond made a crucial error when addressing members of the Treasury Select Committee. Diamond came over all familiar. First it was with Jesse Norman as he used his christian [...]
The party goes on for Pelham Bell Pottinger July 5, 2012 300 guests, including many of the City’s key players, enjoyed the annual party of public relations group Pelham Bell Pottinger despite the rain the other evening. Guests included one-time Vodafone chief executive Chris Gent (now chairman of GlaxoSmithKline), Centrica’s Sam Laidlaw, Paul Baker of Morgan Stanley, Andrew Osborne, formerly of Bank of America Merrill Lynch [...]
SPOOF AD MAKES ITS WAY ROUND THE CITY July 5, 2012 THE above picture, described as “quite obviously a spoof” by Barclays – was the subject of much mirth yesterday as it made its way by email and Twitter around the City.
Heart of Glass July 5, 2012 AFTER A 12-YEAR WAIT, Londoners were finally given a preview of the 360-degree panorama from the 72nd floor of the Shard yesterday, at a formal ceremony marking its external completion. The 95-storey tower designed by Italian architect Renzo Piano has had to overcome major planning battles, fierce criticism and a fractious ownership since it was [...]
Great Portland lifted by scarcity of space July 5, 2012 GREAT PORTLAND ESTATES, the West End-focused property developer yesterday hailed another “excellent year” after both its net asset value and its portfolio valuation delivered strong growth, benefitting from a limited supply of office space in central London and overseas demand. Net assets per share increased by 11.9 per cent and the property portfolio delivered strong [...]
Wet weather aids Dunelm July 5, 2012 SHARES IN Dunelm Group rallied almost four per cent yesterday after the homeware retailer forecast full-year profit ahead of analysts’ expectations, as the wet spring weather lured shoppers to its stores. The company, which runs 124 Dunelm Mill stores selling kitchenware and bedding, expects a pre-tax profit of £96m, up from £83.6m a year earlier. [...]
Rain mars Jubilee sales boost July 5, 2012 UK supermarkets have suffered the weakest early summer trading period in seven years after the wet June weather kept shoppers away, new figures from Nielsen for the quarter to 23 June can reveal. Despite 12.5 per cent year-on-year growth in the week leading up to the Jubilee, sales at the UK’s biggest grocers were up [...]
CITY VIEWS | DO YOU THINK THE SHARD IS A WELCOME ADDITION TO THE LONDON SKYLINE? July 5, 2012 DAVID DOHERTY GUINNESS SOUTH It’s certainly putting London Bridge on the map because south of the Thames there are no real other markers. I think it will revitalise the area without question.” David King CBRE I think it is very positive, it is another iconic building and it improves the skyline hugely. If you own [...]
Halifax reveals a surprise June house price rise July 5, 2012 House prices rose in June bucking the overall downward trend, according to a closely-watched gauge. Halifax’s house price index shot up one per cent in June compared to May, although overall it dropped by 0.5 per cent year-on-year. However, the annual change is a much less sharp drop than the falls seen a year ago, [...]
