Dealmakers already confident of better times ahead January 31, 2013 With the first month of the year out of the way, most investment bankers are beginning to feel a little bit chirpier – at least those of them lucky enough still to be in a job. In Europe, January has brought a few large deals to the markets, including ArcelorMittal’s $3.5bn (£2.21bn) mandatory convertible bond [...]
Brewin Dolphin hit by new FSA adviser rules January 31, 2013 BREWIN Dolphin, the 250-year old investment manager, yesterday said quarterly revenues shrank five per cent in the three months to the end of 2012 due to new payment rules from the City watchdog. The firm, which traces its roots back to London’s first ever stock exchange, enjoyed good revenue increases annually but was hit in [...]
LondonMetric makes first buy January 31, 2013 LondonMetric Property has snapped up six retail warehouses for £92.4m, its first acquisition since the company was created through the merger of London & Stamford Property and Metric Property Investments this month. The retail parks, all near London, are 98 per cent let to tenants including B&Q and Halfords, it said yesterday.
Sail away: Floating interactive artwork lights up Canary Wharf January 31, 2013 OFFICE workers with a window seat in Canary Wharf can amuse themselves, until 15 February, with interactive art installation The Voyage. The 300 illuminated boats that comprise the piece can be seen floating in the Wharf’s Middle Dock; and any bored bankers can change the colours and patterns of the lights from their mobile phones. [...]
FTSE falls again as weak results dampen mood January 31, 2013 LONDON’S top shares closed lower yesterday as downbeat company earnings and mixed global economic data triggered the sharpest one-day fall on the FTSE 100 since mid-November. Earnings were in focus after updates from British oil heavyweight Royal Dutch Shell and drugmaker AstraZeneca, and Facebook in the United States, disappointed. Shell alone took 16 points off [...]
Economists warn poor standard of British schools will hurt GDP January 30, 2013 A GROUP of economists will today urge the government to radically improve educational standards at British schools, arguing that reforms are key to the country’s long-term prosperity. The London School of Economics (LSE) growth commission will also hit out at UK governments’ poor record over infrastructure. “Political procrastination and the absence of a strategic framework [...]
City Moves for 31 January 2013 | Who’s switching jobs January 30, 2013 LM Investment Management The fund management firm has announced two appointments. Joe Samuel becomes director of LM London. He has previously held roles at Law Business Research. Simon Bottle becomes business development manager in London. He has also worked at Goldman Sachs and ABN AMRO. Actis The private equity firm has appointed Arjun Oberoi as [...]
Banks aren’t rewarding failure – but restrictions on bonuses could go too far January 30, 2013 WITH the predictability of “snowflake causes chaos” stories, we are entering the annual banker bonus furore season. With the economy in doldrums, and the industry in the doghouse, it is easy to understand the concern. Top bankers have themselves said that pay has been “grotesque.” But just as predictable as the outrage is a lack [...]
Billionaire duo shortlisted for $4bn Polyus Gold shareholding January 29, 2013 TWO Russian billionaires have been shortlisted to buy a stake in Polyus Gold, sources said, in a deal which could pave the way for a merger with rival Polymetal to create a national gold mining champion. Sources close to the matter said retail boss Zelimkhan Mutsoyev and fruit juice magnate Gavriil Yushvayev wanted to buy [...]
City Moves for 30 January 2013 | Who’s switching jobs January 29, 2013 Pinsent Masons Michael Isaacs has been appointed partner in the law firm’s financial sector disputes practice. He is a banking litigation specialist, and joins from Addleshaw Goddard. Issacs has over 20 years’ experience in the sector. Mizuho International The London-based securities and investment banking arm of Mizuho Financial Group has appointed Antony Slotboom as head [...]