What the other papers say this morning September 18, 2012 FINANCIAL TIMES Greening orders probe into DfiD Justine Greening, the new international development secretary, has commissioned an investigation into her department’s use of consultants, despite assurances from Downing Street that the coalition has already done its best to “bear down” on wasteful aid spending. D&D London receives sales boost London’s fine diners have helped boost [...]
Mizuho picks new international boss September 17, 2012 JAPANESE bank Mizuho has hired Michiel de Jong, an investment banking veteran of Dutch group ABN Amro, to run its London-based advisory and securities business as it tries to make inroads into the international market. De Jong, who started as president and chief executive officer of Mizuho International yesterday, replaces Paul Hearn, a former BNP [...]
Business as usual at London Fashion Week September 17, 2012 British designers have achieved the balance between creative flair and commercial nous London Fashion Week has been another creative success – British designers know they have nothing left to prove on that front. But its success over the past few seasons is increasingly owed to its shrewd business acumen. Traditionally, the capital has been criticised [...]
Paralympics lift footfall in West End by a fifth September 16, 2012 FOOTFALL in the West End surged by nearly a fifth during the Paralympic games compared to the year before as retail spending in the area bucked the August gloom, data out today reveals. Figures obtained by Springboard, which monitors high-street shopping numbers, shows footfall in the areas around Piccadilly and Leicester Square increased by 18.7 [...]
HSBC appoints new UK leader September 13, 2012 EUROPEAN retail and wealth management boss Antonio Simoes has been appointed as HSBC’s UK head and deputy chief executive, the bank announced yesterday. Joe Garner is leaving the post after less than two years in the job, and will leave the bank early next year. Simoes takes on the retail and business banking role on [...]
Several bidders line up for JJB Sports in race to buy the chain September 13, 2012 DEBT-LADEN JJB Sports said last night that it was in talks with several parties who have offered to buy it but ordinary shareholders were unlikely to see any value from a deal. The sporting goods retailer’s shares more than doubled to 0.79p but closed up 30 per cent at 0.45p on the London Stock Exchange [...]
What the other papers say this morning September 12, 2012 FINANCIAL TIMES UBS looks to cap banker bonuses UBS is looking at capping bankers’ bonuses following regulatory and investor pressure. Switzerland’s largest bank by assets is considering a range of options including putting a lid on executives’ bonuses, increasing the time for deferred pay to five years and aligning its absolute remuneration level with the [...]
Should the UK welcome proposals for a Europe-wide banking supervisor? September 12, 2012 YES Mark English Problems in banks spread quickly across borders. A single system of supervision for the euro area means reinforced application of rules and will result in more confidence. Enhanced stability will help tackle the current crisis and help to prevent future crises. It will mean added protection for UK banks – and the [...]
FTSE 100 jumps on German court ruling September 12, 2012 The leading share index was up in early trading, as investors reacted positively to news that German judges ruled in favour of the Eurozone’s rescue fund. Meanwhile, holding company Chesnara led the fallers on the FTSE All-Share, down 6.87 per cent. Embattled platinum miner Lonmin shed 5.56 per cent, as strikes continued at its Marikana [...]
Westfield eyes Croydon mall September 11, 2012 WESTFIELD has submitted plans for a new shopping centre in Croydon. The Australian mall firm hopes to redevelop the Whitgift Centre in the middle of Croydon into its third London site, and has pledged to deliver 5,000 permanent jobs and new travel links. The firm added yesterday that retailers operating in the existing shopping centre [...]