A new tax year: Start it as you mean to go on April 9, 2012 GOOD intentions are rarely in short supply, but most people are running huge deficits in acting on them. As always, the lead-up to the end of the last financial year saw a last-minute flurry of activity, with people rushing to sort out their tax, pensions and Isas. Old habits die hard, but it would pay [...]
Miners lift FTSE but UK factory figures cast shadow April 5, 2012 The FTSE 100 edged up this morning as miners were boosted by more positive data from China but a shadow was cast over the UK by bleak factory output figures. Investors were also eyeing the Bank of England’s interest rate decision at midday with rates expected to be frozen again with no more quantitative easing [...]
David Cameron unveils new Big Society bank April 4, 2012 DAVID Cameron yesterday announced the launch of a “Big Society bank” that will lend money to charities and other good causes. The fund expects to raise £600m in capital over the next four years, which it plans to lend to social enterprises that can prove they can repay the investment from their income. Around £400m [...]
CITY MOVES WHO’S SWITCHING JOBS April 4, 2012 Universal Music The music company has promoted Laurence Hulin to vice president, emerging markets, effective immediately. Hulin will report to Olivier Robert-Murphy, global head of new business in the Universal Music Group. Hulin joined Universal Music in 2005, and for the past two years has served as vice president, business development. He has more than [...]
Miners and banks dent FTSE April 4, 2012 The FTSE 100 was dragged back by weaker mining stocks after minutes from the US Federal Reserve’s March meeting revealed that it is not planning any more monetary stimulus. Federal Reserve policymakers have backed away from the need to pump more money into the system as the US economy gradually improves, minutes of the central [...]
Debt issuance up 69 per cent at start of 2012 April 3, 2012 GLOBAL debt capital markets (DCM) activity totalled $1.7 trillion (£1.06 trillion) in the first three months of 2012, a 69 per cent increase on the fourth quarter of 2011, according to figures from data supplier Thomson Reuters. Their report shows that early 2012 was the most successful quarter for debt issuance in three years. Financials [...]
CITY MOVES WHO’S SWITCHING JOBS April 3, 2012 Post Office Virginia Holmes is joining the board of the Post Office as a non-executive director. Holmes has previously served as chief executive of AXA Investment Managers UK, and spent more than a decade with the Barclays Group, where she was ultimately managing director of Barclays Bank Trust Company. She currently sits on the board [...]
Recession fears brushed off by UK businesses April 2, 2012 FEARS of a technical recession have eased as a couple of upbeat business surveys suggest that the UK economy grew in the opening three months of the year. The British Chambers of Commerce (BCC) announced this morning that they expect GDP expansion of 0.3 per cent in the first quarter of 2012, reversing the knock-back [...]
CITY MOVES WHO’S SWITCHING JOBS April 2, 2012 Marsh The global insurance broking and risk management firm, a subsidiary of Marsh & McLennan Companies, has announced the appointment of Edwin Charnaud as chairman of its global infrastructure practice. Reporting to chairman, global industries Jim Pierce, he will continue to be based in London. Charnaud will retain his current responsibilities as leader of Marsh’s [...]
FTSE posts big rise as US and China manufacturing data ease concerns April 2, 2012 BRITAIN’S top share index posted its biggest daily rise in two months yesterday, up nearly two per cent as manufacturing data from the world’s biggest economies eased concerns over sluggish growth, offsetting uncertainty in Europe. Rising shares of mining companies also helped. London’s blue chip index climbed 106.44 points, or 1.9 per cent to 5,874.89. [...]