INSURERS STRAP IN FOR BLUNT’S MILE-HIGH RECORD-BREAKING GIG June 30, 2010 EVER wanted to watch James Blunt sing his heart out – live – at 42,000 feet? No, neither have we, but let’s not diminish Royal Sun Alliance’s (RSA) achievement in breaking the Guinness World Record for the world’s highest altitude live music show. The insurance group has kicked off its 300th anniversary celebrations with gusto [...]
City’s competitive edge blunted by bank levy June 27, 2010 THERE can be no doubt that Asia holds the key to the future growth of the global financial services industry, providing a whole host of new opportunities for the international business community, including many UK firms. And it is in all of our interests to help these rapidly emerging markets succeed and grow. That is [...]
China’s FX shift won’t spark a sustained rally June 21, 2010 IT WAS a decision that had been long awaited by the financial markets, analysts and policymakers alike. But the announcement by the Chinese central bank to gradually return the Chinese currency to a managed floating exchange rate was issued with little ceremony on Saturday evening Beijing-time. Despite its vagueness, the statement was leapt upon yesterday [...]
Tap the source of profit June 15, 2010 AS austerity measures kick in, growth in the UK is expected to be fairly lacklustre for the next few years. An investment expected to outpace economic growth in the coming years is water. And the investment case is – excuse the pun – watertight. Demand for water is growing strongly, yet investment in infrastructure has [...]
OFT should look at anticompetitive activity June 15, 2010 PARTNER, JONES DAY LLP EARLIER this year the Office of Fair Trading (OFT) published a report looking at the competition implications of firms taking minority interests in their competitors. Now the results are in, it looks likely that the regulator will take a closer look at this area. The report examines minority shareholdings, interlocking directorships [...]
FSA approvals taking longer June 6, 2010 THE Financial Services Authority (FSA) has been criticised for the long delays in its corporate approval process, in a fresh blow to the City regulator. Companies now wait 19.5 weeks on average for an FSA decision on whether to authorise financial services work, according to figures obtained under the Freedom of Information Act by City [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
RSA CELEBRATES THREE CENTURIES OF INSURING PRIZED CITY ASSETS May 27, 2010 CITY insurer RSA certainly knows how to celebrate in style. The firm is celebrating its 300th anniversary this year – though it’s not sure of the exact day – and has been busy thinking up various gimmicks to mark the occasion. First of all, RSA roped in brewer Shepherd Neame to create a special anniversary [...]
SVB applies to FSA for bank licence May 26, 2010 SILICON Valley Bank (SVB), the US lender that backed the Twitter social networking phenomenon, has filed an application for a UK banking licence in an attempt to ramp up its operations on this side of the Atlantic. SVB yesterday handed its official application to the Financial Services Authority, a month after it emerged that the [...]
Outdoor ads to come under scrutiny of OFT May 18, 2010 THE Office of Fair Trading (OFT) will launch an investigation into outdoor advertising after players in the sector raised concerns about its fairness. The OFT will now examine whether the industry offers fair value for buyers and consumers. Heather Clayton, senior director of infrastructure at the OFT said: “The cost of all forms of advertising [...]