Facebook couldn’t have been British October 18, 2010 IT is simply untrue that Britain doesn’t produce any wealth and job creating entrepreneurs any more. Take some of the stories in today’s City A.M.; they demonstrate that Britain retains a vibrant start-up and growth culture. Hugh Willis, 50, and Mark Poole, 49, who founded BlueBay in 2001, are today each £82m richer after they [...]
Insurer Hardy rebuffs offer from Beazley October 18, 2010 Lloyd’s of London insurer Beazley yesterday said it still hoped to clinch a takeover of Hardy Underwriting after its smaller peer rejected an initial 300p per share approach this month. Dublin-based Beazley said its proposed cash offer on 6 October valued Hardy at about £155m. The approach, which represented a 36 per cent premium to [...]
Beazley move for Hardy rejected October 18, 2010 Lloyd’s of London insurer Beazley said smaller peer Hardy Underwriting had rejected a takeover approach made earlier this month but that it still hoped to clinch a deal. Dublin-based Beazley said that on 6 October it had proposed paying 300 pence per share in cash for Hardy, valuing the company at about £155m. The approach, [...]
Miners get City Freedom October 17, 2010 CHILEAN president Sebastian Pinera and the 33 miners rescued last week after over two months trapped underground in a collapsed mine are set to be awarded the Freedom of the City of London. Pinera will today attend a lunch at the Mansion House hosted by Lloyd’s of London chairman Lord Levene, standing in for absent [...]
Lloyd’s insurer Beazley loses cancer battle October 14, 2010 LLOYD’S of London insurer Beazley yesterday announced that its co-founder and deputy chairman Andrew Beazley had died aged 57, three years after first being diagnosed with cancer. Beazley was chief executive of the business for 22 years of its 24-year history. The group launched in 1986 and is now one of the largest names in [...]
DO-GOODING HEDGE FUND AUTHORS STRIP MEAT OFF MERVYN’S BONES October 14, 2010 FOLLOWING on from The Capitalist’s coverage of the launch of The Gathering Storm – a compilation of essays by hedgies, with all proceeds going to charities chosen by the writers – the book’s august authors gathered yesterday for cucumber sandwiches and wine at the Centre for the Study of Financial Innovation. As the discussion galloped [...]
Time to offload Lloyds to save the City’s skin October 12, 2010 Politics can be so unpredictable that a week seems a long time, but there is one prediction that can be made with certainty: a car crash between bankers and politicians just in time for Christmas. The fall out could be so severe that it could lead to the demise of London as a financial services [...]
CITY MOVES | WHO’S SWITCHING JOBS October 12, 2010 Virgin Atlantic The airline has appointed its chief financial officer Julie Southern as chief commercial officer, a newly-created board position. Southern will now take responsibility for all aspects of growing the airline. She originally joined Virgin Atlantic a decade ago from Porsche Cars Great Britain, where she was group finance director. Current finance director Tim [...]
THE CAPITALIST October 11, 2010 ONCE more, the hedge fund community unites for a good cause – this time not by shelling out enormous sums of money while being wined and dined at a charity gala dinner, a la Arki Busson, but by writing a book designed as a warning to policymakers all over the globe. Tonight will see swanky [...]
Battersea Power Station owner agrees loan break October 11, 2010 REAL Estate Opportunities (REO), the owner of London’s iconic Battersea Power Station, has announced it has won a reprieve from its creditors while it finds an outside investor. Note holder Oriental Property, which used to own the site, and other creditors have agreed to give the site a payment holiday on bonds worth in the [...]