CHRISTMAS IN JAIL FOR EX-UBS TRADER December 20, 2011 THE former UBS trader accused of a $2.3bn “rogue trade” was yesterday given more time to consider his plea. Lawyers for Kweku Adoboli, 31, said they were “not satisfied” he had received adequate legal advice from his previous team. Judge Alistair McCreath told Adoboli he must enter a plea on 30 January. Picture: REUTERS
Where will our readers be spending Christmas? December 20, 2011 DAVID WOOTTON LORD MAYOR OF LONDON “I am going to spend Christmas day in Mansion House with all the family, including my grandchildren who are coming from Chicago. Boxing Day will be spent in Sevenoaks and then to a hotel in Kent for the family to enjoy. Lastly my wife and I will be spending [...]
Crossrail dents Foyles earnings December 20, 2011 BOOKSELLER Foyles reported encouraging annual profits yesterday, but it hit out at the Crossrail construction work for damaging trade in London. Foyles, which has five London branches, said disruption caused by Crossrail work will cost the firm £1.5m a year due to a “significant decrease in footfall”. Overall, the firm’s turnover declined 0.8 per cent [...]
CATHEDRAL CAROLS SET OFF A YEAR FOR HEALTH December 20, 2011 CITY GRANDEES joined some of the stars of Downton Abbey in the crypt of St Paul’s Cathedral last night at the launch of the Lord Mayor’s Appeal 2012. As Lord Mayor David Wootton explained to guests including Phil Raper, head of corporate broking UK at Goldman Sachs, Aon Benfield chairman Grahame Chilton, and Jonathan Moulds, [...]
Gloomy New Year as shops predict slump December 20, 2011 RETAIL sales are higher now than the run-up to Christmas a year ago, the Confederation of British Industry’s (CBI) distributive trades survey showed yesterday – the first year-on-year rise since May. But the expansion is not expected to last, with sales set to fall again next month and consumer confidence dropping again, claims researcher GfK. [...]
This Christmas, let’s all lift a glass to mark the birth of Homo sapiens urbanus December 20, 2011 MORE than half the world’s population now lives in cities. And with 1m people every week migrating to emerging cities, all developing regions, including Africa, are expected to have more people living in urban than rural areas by 2030. Across the planet, Homo sapiens will have become Homo sapiens urbanus. In this, the largest migration [...]
Retail sales rise as prices slashed December 20, 2011 Retail sales unexpectedly rose at their fastest pace since May in December, as retailers slashed prices to lure in shoppers, a survey by the Confederation of British Industry showed. The CBI distributive trades survey’s reported sales balance jumped to +9 from -19 in November, the highest since May. Analysts had expected a more modest improvement [...]
Hopes rise of end to bitter pensions row December 19, 2011 NHS workers last night moved closer to a deal on controversial pension reforms despite some civil servants and teachers rejecting the coalition’s “final” offer. A union source said an agreement in principle covering at least 450,000 health workers had been hammered out with government officials. More talks are due to take place over local government [...]
His Margins Vanish as Fox mulls live sale December 19, 2011 HMV has warned that tough trading conditions “may cast significant doubt” over its future after reporting widening losses and revealed it is looking to sell its Live music business. The ailing music retailer has appointed Citigroup to find a buyer for its fast-growing music venue and festival business, in its efforts to cut its £163m [...]
UK’s households facing hard times ahead of Christmas December 19, 2011 INCOMES took a further battering in November and consumers expect house prices to fall further into next year, according to today’s Nationwide consumer confidence survey which recorded a tiny rise in confidence. The headline consumer confidence index rose four points in the month to 40, still 37 points below its long run average of 77 [...]