Flybe plunges after it warns on its profits October 5, 2011 REGIONAL airline group Flybe yesterday saw its shares plummet by 36 per cent after it slashed guidance for its 2012 profits, due to a slowdown in demand on domestic flights. In its second profit warning this year, Flybe said revenues in the six months to October were one per cent behind management’s expectations while costs [...]
CITY MOVES | WHO’S SWITCHING JOBS October 5, 2011 Victoria Private Investment Office The financial adviser and wealth management business, previously Victoria Capital, has relaunched as it aims to reach a wider market. Leading the firm’s expansion is Heather Maizels, the former head of Barclays Private Bank, who has been appointed as managing director. As an advisory board member of Barclays Wealth, which she [...]
How Boisdale owner fell hard for Jamaica October 5, 2011 I HAD never been particularly desperate to visit Jamaica despite its proximity to Cuba – to which I am a frequent and enthusiastic visitor. In truth I imagined it to be overrun with tourists and relatively hostile. What I encountered, though, was completely different to what I had imagined. I certainly cannot claim to be [...]
CITY MOVES | WHO’S SWITCHING JOBS October 4, 2011 PwC Andrew Sentance has been appointed as a senior economic adviser at PwC, following his retirement as a member of the Bank of England’s Monetary Policy Committee, effective from 7 November. Prior to serving on the MPC from October 2006 to May 2011, Sentance’s roles included director of economic affairs at the CBI, director of [...]
Sir Stelios’ Fastjet may compete on Transatlantic route October 2, 2011 EASYJET’s founder Sir Stelios Haji-Iaonnou is considering launching a transatlantic airline which would see him go head to head with British Airways and Virgin Atlantic. The new airline branded Fastjet is unlikely to directly compete with easyJet, which operates flights mainly in Europe, according to reports this weekend. A source close to the company told [...]
FTSE falls on worries of China and copper losing momentum September 29, 2011 BRITAIN’S leading share index fell back yesterday, bucking firmer trends from both US and European equity markets and under pressure from big falls by heavyweight miners on lower copper prices amid concerns over future demand. Traders highlighted some anxiety over growth from major metals consumer China ahead of official September PMI numbers, due out on [...]
A whirlwind weekend in Hong Kong September 25, 2011 Hong Kong is epic. Everything about the city is exaggerated. The skyline. The escalators. The humidity. Once a busy trading port, it still thrives on exchange, be it financial bonds or dried fish. Being an island, Hong Kong has to work harder than other cities because it can’t reach out into the suburbs for a [...]
LAWYER | OF THE YEAR September 21, 2011 DAVID CHEYNE LINKLATERS Linklaters’ David Cheyne, “one of the last of the City’s true corporate legends”, is this year’s top legal brain. Cheyne stepped down as senior partner on 11 September, marking the end of an era at the magic circle firm. SHORTLIST Stephen Griffin, Linklaters Maria Da Cunha, British Airways Sir Nigel Knowles, DLA [...]
A great night celebrating success in the City September 21, 2011 LAST night was an occasion to remember: City A.M.’s annual awards celebrating the best and brightest of London’s business, financial and investment communities. Over 500 guests from dozens of the City’s leading firms attended the celebration, held at the Grange Hotel in St Paul’s. There was great food, music and company, as well as a superb [...]
Lufthansa warning hits shares at IAG September 20, 2011 SHARES in British Airways parent IAG fell 2.9 per cent yesterday after rival Lufthansa issued a profit warning. Germany’s Lufthansa, which is looking to sell its British-based BMI airline, said a weaker than expected August had dented operating profits, which are no longer expected to beat last year’s figure of €876m (£762m). The firm also [...]