PETTIGREW CALLS ALL ABOARD FOR STEAM RIDE October 5, 2010 IT was all aboard at Tower Pier last night as City bigwig Jim Pettigrew added an unusual venture to his impressive CV, which includes stints at Marks and Spencer, CMC Markets, Icap and, in his current role, Aberdeen Investment Managers. Pettigrew played host as fellow City figures arrived to experience his latest venture: the relaunch [...]
Buy City offices for steady income October 5, 2010 CONFIDENCE in UK property has plummeted over recent months. The recent commercial property confidence survey conducted by Lloyds showed that almost half of property professionals now think that property prices will stay flat over the next six months (up from 36 per cent in May). So is now the time to ditch commercial property and [...]
FTSE ends lower in thin trade October 4, 2010 BRITAIN’S top share index closed lower in thin volumes yesterday, ahead of key macroeconomic data later in the week, with BP hit after issuing a €2bn (£1.72bn) bond to help pay for the Gulf of Mexico oil spill. The FTSE 100 ended down 0.7 per cent at 5,555.97 points, after closing up 44.28 points, or [...]
BHP Billiton takeover of Potash could cost Canada over £1bn in lost taxes October 4, 2010 BHP BILLITON’S $39bn (£24.6bn) hostile bid for Potash cleared a hurdle yesterday, as an independent report found that BHP is a more suitable owner than potential rival Sinochem. The report, commissioned by the Canadian province of Saskatchewan, said that BHP’s takeover could cost the area at least C$2bn (£1.23bn)?in lost taxes, though the government could [...]
RESTAURANT REVIEW October 4, 2010 Tortilla 28 Leadenhall Market, EC3V 1LR Tel: 020 7929 7837 FOOD SERVICE ATMOSPHERE Cost per person without wine: £8 IF you go down to Leadenhall Market today at about one o’clock, round towards the bottom of the Lloyds building, you’ll see a big, big queue. It only opened a few weeks ago, but already Tortilla [...]
Banks ready to lend for big property buys October 3, 2010 MORE banks were willing to help fund large UK real estate purchases in the last six months than in the previous year, though many commercial property deals are being done without the need for debt, according to research out today. Twelve banks have lent at least £100m each in the period, in typical loan sizes [...]
Germany and France slam hedgie rules September 29, 2010 FRENCH economy minister Christine Lagarde looks set to dash hopes of an imminent deal on EU hedge fund rules when she meets finance ministers in Brussels this week, diplomats with direct knowledge of the matter said yesterday. France’s refusal to back a “passport” scheme that would allow foreign funds to do business across all of [...]
Chile quake claims wreck Lloyd’s profit September 28, 2010 INSURANCE market Lloyd’s of London blamed its 52 per cent drop in profit yesterday on a spate of disasters including the Deepwater Horizon oil spill and the Chilean earthquake. Lloyd’s posted a pre-tax profit of £628m for the first half of 2010, down from £1.32bn a year earlier. Lloyd’s insurers including Catlin, Amlin and Hiscox [...]
CITY MOVES | WHO’S SWITCHING JOBS September 28, 2010 Insurance Institute of London The IIL has elected Stephen Catlin, the chief executive of the Catlin Group, as its new president, taking over from Willis group president Grahame Millwater. Catlin, who founded the insurer in 1984, has also previously served as chairman of the Lloyd’s Market Association and a member of the Lloyd’s Franchise Board. [...]
Lloyds of London profit halves as claims rise September 28, 2010 The Lloyd’s of London insurance market said its profit for the first six months of 2010 more than halved, hit by higher catastrophe claims and weaker investment returns. Lloyd’s had a first half pretax profit of £628m, down from £1.32bn in the same period last year, it said on Tuesday. Lloyd’s, which traces its origins [...]