Urban Exposure IPO: Property lender to raise £500m in market float July 2, 2014 A residential property lender yesterday announced plans for a £500m stock market float as it seeks to tap into demand for new homes in London and the south east. Urban Exposure was founded as a property developer in 2002 by former Deutsche Bank risk analyst Randeesh Sandhu, but started providing short-term loans to other [...]
Accountancy firm EY appoints 675 new partners July 1, 2014 Accountancy giant EY yesterday announced 675 people had been promoted to partner this year – an increase of 33 per cent on last year – highlighting improved economic growth and corporate activity. EY said it had appointed 237 new partners in its Europe, Middle East, India and Asia region. This is a rise of 46 per [...]
Eurozone lending and inflation data signal meagre expansion June 30, 2014 LENDING and inflation in the Eurozone showed little sign of recovery in May and June, according to figures published yesterday. Inflation held at 0.5 per cent in June, the same figure as in May and the joint-lowest since a brief period in 2009. Prices are rising far more slowly than the European Cental Bank (ECB) [...]
Services sector to prop up UK’s trade balance for years to come June 30, 2014 THE UK’s services firms are set for robust export growth in the next five years, with the sector’s trade surplus forecast to swell in the years ahead. Of the advanced economies, only Japan will surpass the UK’s export growth in the next five years, according to a report today from EY’s Item Club. Outward trade [...]
London Hong Kong Dragon Boat Festival causes a splash in the Royal Albert Dock June 30, 2014 The London Hong Kong Dragon Boat Festival got underway yesterday with teams from PwC, EY, ABP Investment (pictured, far left), Lycamobile (pictured, middle) and Bank of East Asia (pictured, right) all competing in the dragon-headed crafts in the Royal Albert Dock. They battled through the afternoon’s heavy showers, with ABF The Soldiers’ Charity taking the [...]
Letters to the Editor – 30/06 – Bubble-mania, World Cup, Best of Twitter June 29, 2014 Bubble-mania [Re: Are the Bank of England’s mortgage lending restrictions likely to prove ineffective? Thursday] An interesting debate, but I’m unnerved by how casually commentators and economists throw the word “bubble” around without giving much thought to what they are actually saying. Would a rise in base rates cause the housing market in London to [...]
Letters to the Editor – 27/06 – Global money, Airport options, Best of Twitter June 26, 2014 Global money [Re: Bretton Woods: How stable monetary order was created and then destroyed, Tuesday] An interesting historical article, but the author displays a misguided support for a fixed international monetary system. If a floating exchange rate system is associated with the global expansion of credit, the older order is associated with the inability of [...]
London style: Iconic British looks from the brands behind London Collections June 26, 2014 Our exclusive City A.M. Bespoke photoshoot celebrates some of the most iconic looks by the brands who exhibited their wares at the menswear showcase, from 1960s mod-inspired styles to the grimy punk borrowed from the late 1970s. Brilliant fashion minds such as Lou Dalton take these genre classics and reimagine them for a new generation; [...]
Dozens of Euro banks in need of more capital June 23, 2014 NEARLY two dozen banks across Europe expect to raise more capital following central bank stress tests, an anonymous poll of lenders has found. A total of 22 banks out of 294 said they would be required to boost their coffers after the Asset Quality Review (AQR) by the European Central Bank is finished, with a [...]
City Moves for 20 June 2014 | Who’s switching jobs June 19, 2014 Secure Trust Bank John Simpson has been appointed managing director of the bank’s motor finance division, which operates under the Moneyway brand. Simpson’s 30-year career has seen him take senior roles at GE Capital Woodchester, Manheim Retail Services and Manheim Europe. TSB Des McDaid joins the bank as head of savings. He has over 25 [...]