The week in brief March 2, 2014 Cadbury in £7.5m communication campaigns launch The confectionery company has invested £7.5m in a campaign for its new Dairy Milk Ritz and Lu products. A 30-second TV ad, created by Fallon and directed by David Wilson, premiered on British TV on Saturday. Cadbury hopes this will help position the brand in the afternoon tea break [...]
Why the energy politicians are squaring up on ring-fencing February 27, 2014 Energy secretary Ed Davey faced a grilling from MPs in the House of Commons today on competition in the energy market, following regulator Ofgem’s new liquidity and transparency rules, which were published yesterday. Currently, the big six – that have both generation and supply arms – can sell themselves energy, which some smaller suppliers and Labour [...]
Markit’s float at risk from EU’s collusion probe February 26, 2014 INVESTORS in Markit fear the European Commission’s probe hanging over the market data firm could derail or delay its planned stock market flotation, City A.M. understands. The group is 51 per cent owned by a consortium of hedge funds and investment banks, some of whom are looking to cut down or even completely sell off [...]
Fullerton Fund Management set to open London office February 25, 2014 Fullerton Fund Management, the Singapore-based investment management firm, is working to establish an office in London, the Treasury has confirmed. Fullerton, which specialises in Asian and emerging market investment solutions, will soon by applying for a licence from the Financial Conduct Authority. Its move to London follows the launch of the government’s Investment Management Strategy [...]
Why the housing crisis is clobbering London businesses February 24, 2014 THE HOUSING crisis is the biggest challenge facing London. For the first time ever, it is now Londoners’ top concern. For low and middle income Londoners, home ownership is increasingly out of reach, rents consume an ever increasing percentage of their income, and homelessness is rising. But the crisis is also seriously damaging the competitiveness [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
Against the Grain: What Italy and France should really learn about German economic resilience February 20, 2014 IT’S EASY to forget that Germany was once seen as the Sick Man of Europe. Between 1991 and 2005, its GDP growth averaged only 1.2 per cent a year, compared to 3.3 per cent in the UK. Since then, of course, the German economy has revived dramatically. The recovery in the German cluster of economies [...]
Against the Grain: What Italy and France should really learn about German economic resilience February 19, 2014 IT’S EASY to forget that Germany was once seen as the Sick Man of Europe. Between 1991 and 2005, its GDP growth averaged only 1.2 per cent a year, compared to 3.3 per cent in the UK. Since then, of course, the German economy has revived dramatically. The recovery in the German cluster of economies [...]
Green light for Paragon to join banking market February 18, 2014 RADICAL new rules to bring more competition into the banking market paid off yesterday as Paragon Bank became the first lender to get a new licence under the system. It is only the second new licence to be awarded in more than 100 years – the first was Metro Bank in 2010. Paragon Bank will [...]
Strong Chinese loans prop up Asian markets February 17, 2014 A MAJOR boost to Chinese lending in January buoyed Asian markets yesterday, even following Japan’s disappointing fourth quarter GDP data. The Peoples’ Bank of China announced that 1.32 trillion yuan (£128.36bn) was distributed in new loans during January, the highest in over nearly four years, easily beating more bearish forecasts. The news follows better than [...]