Calls for more UK housing as prices hold up June 20, 2011 BRITAIN needs more houses to avoid shortages in the near future, a group of economists is expected to announce tonight. Even if net migration levelled out, the UK would still require more housing, the Centre for Economic Performance will state at a lecture in London. “Unfairly perhaps, migrants will nevertheless get a lot of blame,” [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 5, 2011 FINANCIAL TIMES JAGUAR TO INVEST £5BN Jaguar Land Rover is investing £5bn over the next five years to catch up on quality with BMW, Mercedes-Benz and Audi – the three German companies that dominate the luxury end of the automotive business globally. The money will be spent mainly on product development and new equipment at [...]
CITY MOVES | WHO’S SWITCHING JOBS May 2, 2011 Brookland Partners The investment bank has appointed Griff Winkler as a director, where he will focus on expanding the firm through identifying investment opportunities from capital providers and other JV partners. Winkler joins from Hatfield Philips, where he was vice president of the non-performing commercial real estate loan group. He also brings five years of [...]
City Moves | who’s switching jobs March 30, 2011 Astbury Marsden Mark O’Reilly has been appointed as managing director of the financial services recruitment firm’s Asia Pacific operations. O’Reilly will be based in Hong Kong and will continue to lead the expansion of the company’s Singapore and Hong Kong offices. O’Reilly has more than 13 years’ experience in financial services recruitment, including three years [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2011 FINANCIAL TIMES ICBC HEAD PLAYS DOWN POST-CRISIS LOAN RISK China’s largest bank lent Rmb640bn ($61bn) to local governments in the post-crisis credit boom, but insists these loans do not pose a danger to the country’s banking system. In an interview with the Financial Times, Jiang Jianqing, chairman of Industrial and Commercial Bank of China, the [...]
Banks face probe for their use of Big Four auditors March 23, 2011 THE GOVERNMENT has asked regulators to investigate whether banks help to entrench the Big Four auditing firms’ dominance through restrictive lending agreements with companies. The Budget included a call to the Office of Fair Trading to probe whether bank covenants lock out smaller auditors. The Financial Reporting Council had expressed concern to lawmakers last year [...]
UK to probe bank covenants favouring big auditors March 23, 2011 The government has asked regulators to investigate whether banks help to entrench the “Big Four” auditing firms’ dominance through restrictive lending agreements with companies. Chancellor George Osborne’s Budget included a call to the Office of Fair Trading to probe whether bank covenants lock out smaller auditors. The Financial Reporting Council had expressed concern to lawmakers [...]
The new British Airways boss says the business is ready for take-off March 20, 2011 IT is time for a fresh start. That was the message from Keith Williams, the new boss of British Airways, as he gave City A.M. his first ever interview since becoming chief executive of Britain’s 37-year-old flag-carrier. One can forgive Williams for wanting to turn a page: his predecessor Willie Walsh, who has moved upstairs [...]
BUSINESS SCHOOL NEWS IN BRIEF March 16, 2011 FS STILL NUMBER ONE It might not be the politicians’ favourite sector, but MBA graduates are still pretty keen on the financial services. In its 2011 Alumni Perspectives Survey GMAC (the Graduate Management Admission Council) says that 22 per cent of MBA graduates went to work in the financial services, up on 15 per cent [...]
Shareholder rights are still being ignored March 9, 2011 DEFENDING shareholder rights remains an “uphill struggle” despite almost 150 asset owners signing up to a series of guidelines for best corporate governance behaviour, a key City regulator will say today. Almost 150 asset owners have signed up to the Stewardship Code launched by the Financial Reporting Council (FRC) last July to push institutional investors [...]