EU to rewrite trading rules December 8, 2010 LONDON’S pre-eminence as Europe’s leading commodity marketplace is under threat as proposed EU regulatory changes home in on derivatives trading. A new consultation on the European Commission’s markets in financial instruments directive (MiFID) is pushing for greater regulation of trading platforms for shares, bonds and derivatives. In commodity markets, it would force traders in both [...]
Fall in mining shares takes its toll as FTSE 100 closes lower December 8, 2010 WEAKNESS in heavyweight miners dragged the leading share index lower yesterday, although firmer banks, energy issues and some takeover speculation helped limit the falls. At the close, the FTSE 100 was down 13.92 points or 0.2 per cent at 5,794.53, having hit a three-week high on Tuesday. “It has been a choppy trading session today [...]
New hotel set for Tower area December 5, 2010 A SINGAPORE-BASED consortium, KOP and Reignwood, has purchased the Grade II-listed former Port of London authority headquarters overlooking the Tower of London in a deal thought to be worth over £100m. KOP Properties hopes to convert Ten Trinity Square into its flagship luxury European hotel in time for the London 2012 Olympics after buying it [...]
Rail revolution opens new areas for commuters December 2, 2010 ASK any Londoner what irritates them most about the city and they will say two things. First, the transport is rubbish and second, it is too hard to buy a decent, affordable home. For families who want their children to grow up outside London, the misery of the commute has to be weighed against the [...]
Home-builders ramp up incentives to lure hard-up first-time buyers December 2, 2010 HOME-BUILDERS have always offered buyers deals, but some are more valuable than others. Take, for example, the West Bromwich Building Society’s offer in 2004 of a free Rover car worth over £7,000 – a year before the car-maker went into administration. The downturn has left house-builders with new-builds sitting empty all over the country, and [...]
Flybe listing to take off in December November 30, 2010 REGIONAL airline Flybe yesterday announced plans to list in London in December in a bid to raise £60m. The initial public offering (IPO) would value the budget carrier, Europe’s largest regional airline, at about £240m and marks another stride in its ambitious growth strategy. “We are delighted to bring Flybe to the market. The company [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 28, 2010 FINANCIAL TIMES AMAZON SEEKS TO EXPAND GLOBALLY Amazon says it plans to revamp its international e-commerce platform to make it easier for the company to reach customers in new markets. The online retailer, the world’s largest by number of visitors, operates online businesses in six countries outside the US. It says it has set up [...]
Time Out owner sells £10m stake November 25, 2010 Oakley Capital has bought a 50 per cent stake in Time Out, in a deal that values the iconic magazine at more than £20m. Founder Tony Elliot has been searching for an investor but was determined to resist being snapped up by a larger media company. He is understood to have made at least £3m [...]
CITY VIEWS: DOES THE ECONOMIC IMPACT OF THE ROYAL WEDDING BANK HOLIDAY WORRY YOU? November 24, 2010 INTERVIEWS BY IAN JONES | COLEMONT You have more motivated staff after the long break. Markets will close, though, so it will impact business for those few days. In terms of my personal life, though, I really just don’t see an impact. JOE DEARSLEY | LLOYDS OF LONDON To be honest, the impact of the [...]
CITY VIEWS: AFTER THE IRISH BAILOUT DO YOU THINK WE WILL HAVE TO RESCUE ANY MORE EUROPEAN ECONOMIES? November 23, 2010 ANDREW COLEMAN | LLOYDS OF LONDON “I think it is very likely that we will have to bail out another European country on the back of the bailout to Ireland although I don’t think we should. But we will because of the Eurozone. As part of Europe its probably just something we have to do [...]