Dreaming big in Malawi November 28, 2011 OFFERING people financial services as simple as a bank account or affordable business loan for the first time can be life-changing. Take Precious Bambala, a small-time hairdresser based in the village of Limbuli in southern Malawi, where all the money raised in City A.M.’s Christmas charity appeal will be used. In her remote rural area, [...]
£110,000 raised so far November 28, 2011 DONATIONS to City A.M.’s Christmas appeal are still pouring in, and we are delighted that only two weeks into our campaign we have raised more than £110,000 from our generous readers. More than £12,000 has been gifted to our appeal by phone, by text and through our website in the past four days alone, including [...]
CHIEF EXECUTIVE, OPPORTUNITY INTERNATIONAL UK, EDWARD FOX November 28, 2011 I know it’s a cliché, but people are the same the world over. Every time I visit Africa and meet our clients, this universal truth hits home – they’ve got the same fears, the same hopes, the same dreams as you and I. Take education. Those of us with families will know how often this [...]
Judge blocks Citigroup-SEC settlement November 28, 2011 A US FEDERAL judge angrily blocked Citigroup’s proposed $285m (£184m) settlement over the sale of toxic mortgage debt, rebuking the top US market regulator over how it reaches corporate fraud settlements. District Judge Jed Rakoff said the US Securities and Exchange Commission appeared uninterested in actually learning what Citigroup did wrong, and erred by asking [...]
Boris extends mayor lead November 28, 2011 MAYOR of London Boris Johnson is on course to win re-election next year, according to a poll out yesterday. Around 48 per cent of Londoners expect to give their first preference vote to Johnson, compared with 40 per cent to Labour’s Ken Livingstone and just six per cent for Lib Dem candidate Brian Paddick. And [...]
Squatters stay on at UBS amid legal deadlock November 28, 2011 PROTESTERS who have taken over a disused UBS building in the City could cling on for several more weeks after their case was adjourned in the High Court. Yesterday the so-called Bank of Ideas challenged the possession order, issued by UBS subsidiary Sun Street Properties, at a preliminary hearing. Activists, who represented themselves in court, [...]
LUKE JOHNSON ENDORSES LAUNCH FOR THE CITY’S BEST-CONNECTED November 28, 2011 ARE YOU fed up with receiving endless invitations to “connect” with people you have never met on digitally promiscuous social networking sites? Then Ndoorse, the new network for high-quality professionals founded by ex-Deloitte strategy consultant Jeremy Weil and JC Rathbone director Kristian Rathbone is perhaps for you. The only problem is that the City-meets-entrepreneurs network, [...]
Woodford looking at loss as Omega offer stutters November 28, 2011 INVESCO Perpetual’s Neil Woodford was last night left to rue his decision to back insurance tycoon Mark Byrne’s move to take control of Omega Insurance, the company in which Woodford has a near 30 per cent shareholding. Byrne has tendered for a 25 per cent stake in the struggling group at a price of between 70p [...]
DODD-FRANK ARCHITECT TO STEP DOWN November 28, 2011 Barney Frank, the Democrat responsible for the Dodd-Frank Act on financial reform, is to retire from Congress next year. Frank, who was first elected in 1980, said new boundary changes and his desire to write and teach more had led to his decision. He is one of the Democrats’ biggest defenders of Wall Street regulation, [...]
London house prices join fall in rest of UK November 28, 2011 LONDON’S house prices slid in the month to the end of October, at last joining the falling trend across the rest of England and Wales, figures out yesterday from the Land Registry revealed. Average prices in the capital fell 1.6 per cent from £345,870 to £340,308 in the month to October, up just 0.3 per [...]
