City A.M. shadow MPC votes 7-2 against higher rates February 5, 2014 ALLISTER HEATH | CITY A.M. The case for a 0.5 percentage point hike in the Bank rate is clear. The unemployment level is plummeting and firms are reporting some of the most positive conditions on record. The dangers of emergency monetary policy are now increasingly obvious, especially in London’s property market JAMES SPROULE | INSTITUTE [...]
London Report: Lloyds PPI news leads the FTSE to six-week low February 3, 2014 BRITAIN’S top shares extended a recent slide yesterday, slipping firmly into negative territory after disappointing US data, with Lloyds leading banks lower after its latest update. The FTSE 100 was down 44.78 points at 6,465.66 by the close, a fall of 0.7 per cent, dropping to new six-week lows after last week’s 2.3 per cent [...]
Brit Insurance eyes stock market return as new chair takes helm February 2, 2014 BRIT Insurance, the outgoing sponsor of the England cricket team, is understood to be lining up advisers to run the rule over the business ahead of a potential stock market return this year. The firm, based in the Netherlands but with a huge presence in the Lloyd’s of London market, could be valued at over [...]
How Martin Gilbert is poised to challenge the US giants February 2, 2014 A painful experience in the past has helped Aberdeen Asset Management build for the future. Its CEO tells David Hellier how his latest deal can be a catalyst for US expansion WHEN Martin Gilbert and his board first discussed the acquisition of Scottish Widows Investment Partnership (SWIP) from Lloyds last March, they turned the deal [...]
Barclays cuts up to 400 jobs in investment January 28, 2014 HUNDREDS of investment bankers at Barclays will lose their jobs as the bank maintains its focus on costs, it emerged yesterday. The axe is likely to fall on poor performers in centres including London and New York, while staff also face a crackdown on travel as the bank tries to control costs. Employees will no [...]
What the other papers say this morning – 29 January 2014 January 28, 2014 FINANCIAL TIMES AO.com aims for £1bn valuation AO.com, the online electricals retailer, is aiming for a £1bn valuation when it floats on the London Stock Exchange later this year – more than treble the market capitalisation it was hoping to achieve just four months ago. Several investors have told the Financial Times that the retailer, [...]
City Moves for 29 January 2014 | Who’s switching jobs January 28, 2014 KPMG The professional services firm has announced the appointment of Mike Walters as a partner and head of its financial risk management group. He was most recently at Barclays, where he was global head of compliance. Nikko Asset Management The asset management firm has made two senior appointments. Takuya Koyama has been appointed global head [...]
Farage: Women are worth less to City bosses January 20, 2014 WOMEN who take time off to have children are “worth less” to City bosses than their male colleagues, Ukip leader Nigel Farage has said. Speaking at a conference on Europe, Farage said he didn’t believe there was any discrimination against women in the City, singling out banks, brokerage houses and Lloyd’s of London as good [...]
City Moves for 20 January 2014 | Who’s switching jobs January 19, 2014 Maker Studios The media company has hired former AOL executive Rene Rechtman as president of international, a new role to help develop its growth strategy and strategic relationships overseas. Rechtman left his role as CEO of AOL’s branded content division, BeOn, last November. Markel The insurance company has announced the appointment of Charles Bragg as [...]
Overseas investment in London property to hit pre-crisis levels January 13, 2014 OVERSEAS investment in London’s property market could top pre-recession levels by the end of this year, boosted by an influx of spending from Asian buyers. According to figures released today by law firm Mayer Brown, Asian investors doubled their investment in the central London market to £5.8bn last year, up from £2.91bn the previous year. [...]