First fall in the capital’s output since April ‘09 December 11, 2011 LONDON’S private sector output contracted last month, according to a business survey released this morning by Lloyds TSB. The worrying finding marked the first decline in the capital’s business activity for over two and a half years. The business activity index slipped to a reading of 49.3 in November, down from 50.4. Scores below 50 [...]
FTSE up despite Europe summit concerns December 9, 2011 The UK’s top share index has closed higher as investors took the positives from the agreements at the European summit. Talk of potential Chinese investment in Europe and improving economic data in the US also lifted sentiment. While not the emphatic solution to the Eurozone’s two-year old debt crisis some had hoped for, EU countries [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
CITY SNAPS UP FLATS IN DELAUNAY NEIGHBOUR December 6, 2011 NO PRIZES for guessing who was first through the doors of The Delaunay: restaurant reviewer AA Gill, who was yesterday spotted having breakfast with the new brasserie’s co-owner Jeremy King. Of course, Gill was followed closely by The Capitalist, who caught up with King as he studied the architects’ plans for his next opening Brasserie [...]
Downgrade bombshell puts brakes on FTSE gains December 6, 2011 The brakes were slammed on the recovery in European markets this morning after ratings agency Standard and Poor’s warned 15 Eurozone countries – including Germany – that they were teetering on the edge of a downgrade. Asian stocks and the euro fell after S&P piled pressure on a plan to solve the region’s debt crisis [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 6, 2011 FINANCIAL TIMES BOURSES VIE FOR TIE-UP WITH KAZAKH EXCHANGE The London Stock Exchange and Russia’s two main exchanges are vying to secure a strategic partnership with the Kazakhstan Stock Exchange as the bourse becomes the latest play on the central Asian country’s huge natural resources. The manoeuvring comes as the Kazakh exchange is preparing for [...]
CITY MOVES | WHO’S SWITCHING JOBS December 5, 2011 Hastings Direct Liz Latter has been appointed as head of insurer development at the firm. She will work with Adrian Parry, head of Hastings’ panel development activities for the last two years, who will step back from his full-time commitments in early 2012 to pursue other commitments, but will continue to support the business. Latter [...]
FTSE hits a five-week high on hope of a euro debt plan December 5, 2011 BRITAIN’S FTSE 100 hit a five-week closing high yesterday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the Eurozone. European Union leaders, urged on anxiously by the United States, are seeking agreement on a convincing rescue plan that has eluded them for two [...]
David Lloyd Leisure prepares to hire investment bank to assess its options December 4, 2011 GYM chain David Lloyd Leisure is preparing to appoint an investment bank to advise on its strategy, according to reports. The company, which is owned jointly by Caird Capital, the private equity firm whose investors include Lloyds Banking Group, and London & Regional, the property firm owned by the billionaire Livingstone brothers, held a board [...]
CITY MOVES | WHO’S SWITCHING JOBS December 4, 2011 Tenemos The banking software provider has appointed former SAP executive Dr Bernd-Michael Rumpf as global head of the company’s customer services group, reporting to chief executive Guy Dubois. Bernd-Michael previously spent 12 years at SAP, where his executive roles included head of field services and support. Prior to that, he was chief executive of SAP [...]