What the other papers say this morning February 14, 2013 FINANCIAL TIMES JPMorgan’s Gulati launches fund JPMorgan’s global head of equity proprietary trading is quitting to set up a hedge fund in Switzerland in what will be the first prominent launch of a fund since several bank spinouts floundered last year. Deepak Gulati, once one of the bank’s star traders, will launch Argentière Capital probably [...]
Centrica set to name US head British Gas boss February 14, 2013 A NEW head of British Gas is set to be installed by parent company Centrica as soon as today, with the firm’s US executive Chris Weston widely tipped to be taking over, it emerged last night. Weston is currently head of Centrica’s US gas retail business Direct Energy. He is set to replace outgoing managing [...]
City Moves for 15 February 2013 | Who’s switching jobs February 14, 2013 CBRE The property firm has appointed Andrew Peacock as head of central London asset management. He joins after 24 years at Aviva Investors, where he held a number of senior roles, including manager of its central London office portfolio. Towers Watson The professional services company has appointed Liz Rennie as senior consultant in its human [...]
Fashion chain Republic enters administration February 13, 2013 BRITAIN’S already fragile high street was dealt a fresh blow yesterday after fashion chain Republic collapsed into administration. Ernst & Young, the business advisory firm, has been appointed as administrator and 150 staff at its Leeds headquarters were immediately made redundant. The retailer, which sells youth fashion brands including Jack Jones and SoulCal, runs 121 [...]
Telecity pleases market with robust outlook February 13, 2013 DATA centre operator Telecity yesterday posted a 22 per cent rise in full-year earnings, meeting analyst expectations, and gave a confident outlook for 2013 underlined by robust demand. The British company bases its facilities in European cities like London, Amsterdam and Paris, where multiple Internet connections provide near failsafe services to retailers, banks, social media [...]
Tighter regulations won’t restore the City’s reputation for integrity February 12, 2013 FINANCIAL regulation is often defended on the grounds that financial products are complex and consumers do not understand them properly. But that is nothing special in itself. I know little about car repair. When I take my car to the garage, the mechanics start talking Esperanto to me about their plans, followed by “OK?” We [...]
British Land in £143m bet on Ealing shoppers February 11, 2013 BRITISH LAND has snapped up a portfolio of London properties from Dutch investment firm Wereldhave for £183.8m, the property giant confirmed yesterday. The biggest asset in the portfolio is Ealing Broadway shopping centre in west London, which is anchored by retailers including Marks & Spencer and Primark and attracts 15m visitors each year. British Land [...]
FTSE pauses for breath beneath the 6,300 mark February 11, 2013 BRITAIN’S FTSE 100 was lifted yesterday by strength in energy stocks and food retailers, but the index was still struggling to break through the four-and-a-half year highs hit at the start of February. London’s blue chip index gained 13.13 points, or 0.2 per cent at 6,277.06, holding within the 70-point range of the last five [...]
Bank ringfences will solve little February 11, 2013 Chief Market Strategist, Cantor Index I AM enormously proud to have survived 50 years in the City of London. Over the last week, however, there has been little news involving banks to be remotely glad about. We heard some “mea-culpa” testimony to the Parliamentary Commission on Banking Standards from Lloyds Banking Group’s chief executive Antonio [...]
Stealth hike in inheritance tax not the answer to care crisis February 10, 2013 ONCE again, I find myself disagreeing with the government. The coalition is about to introduce a £75,000 cap on the cost of social care for the elderly, in an attempt, or so it claims, to ensure that people no longer have to sell their homes to pay for help when they become very old. It [...]