The broker who says small firms have to come up with big solutions January 3, 2011 The conventional wisdom is that it is next to impossible for small firms to raise cash, but Phil Adams, chief executive at independent investment broker Altium, says that the picture is more complicated than that. “It is pretty straightforward to raise cash if you are a well-run high-growth firm expanding by around 15 per cent [...]
CITY MOVES | WHO’S SWITCHING JOBS January 3, 2011 Barclays Corporate Ian Gilmartin has been promoted to Barclays Corporate’s retail and wholesale team as corporate director. He was formerly head of marketing services in the tech and media sector. In his new job, he will be working with Richard Lowe, head of the retail division, and will be adding to his 16 years’ experience [...]
World stocks hit two-year high December 23, 2010 World stocks hit their highest level since September 2008 while oil held near a two-year peak as favourable US data reinforced expectations economic growth will retain momentum into next year. Wednesday’s upwardly revised data showing the US economy expanded at 2.6 per cent in the third quarter, coupled with recent retail sales figures, pointed to [...]
There’s plenty of change in our Power Hundred December 21, 2010 INTRODUCING our City A.M./CityJet Power Hundred list for 2011 one is struck by the number of new entrants – 43 in all. Admittedly the last list was put together a couple of years ago, but there really have been dramatic changes since then. The biggest difference is the political landscape. Gone are the big beasts [...]
Barclays chief: Inflation is good December 21, 2010 Incoming Barclays chief executive Bob Diamond told Sky News “a whiff of inflation would be good news for the economy,” yesterday. Inflation rose to 3.3 per cent last month, and inflation expectations have jumped to 3.9 per cent. And 61 per cent of people think rising prices will weaken the economy. “Inflation erodes the value of [...]
Lib Dems gear up for a bumpy ride with Cable on the ropes December 21, 2010 EVEN as the story of business secretary Vince Cable’s indiscretions broke late on Monday, campaigners linked with the the office of Liberal Democrat deputy leader Simon Hughes were frantically sending out press releases. Surely an example of an impressive scale-up of the famously scatty Lib Dem media operation? Er, not quite. “Don’t use King’s Stairs [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
Government meeting with banks “constructive” but overshadowed by Cable December 21, 2010 GOVERNMENT ministers have said talks with bank bosses were “constructive” but their efforts to pressure them to rein in bonuses and step up lending have been overshadowed by the row engulfing Vince Cable. The business secretary, the coalition’s most vocal opponent of bankers’ pay, was at the meeting, but has spent the day under fire [...]
Relapse for consumer confidence in the Eurozone, as trade deficit grows December 20, 2010 HOPES for a retailing resurgence across the Eurozone took a hit yesterday, with news that consumer confidence has dropped more sharply than expected. In November the confidence index rose to a 35-month high, yet appears set to drop in December, according to the European Commission’s “flash” reading. The full reading for the month will be [...]
CABLE TO BANKS: I WON’T BE BULLIED December 19, 2010 BUSINESS secretary Vince Cable is on the warpath over bankers’ bonuses, announcing yesterday that he doesn’t care if tougher rules cause an exodus of financial firms from the UK. “We’re not going to be bullied,” he said, in relation to companies’ threats to leave the country due to an inability to recruit top talent. He [...]