Investment bank jobs slashed in new cuts round September 20, 2012 FIVE YEARS since the financial crisis began, investment banks are embarking on a new round of job cuts, slashing expenses to try to cope with the prolonged economic downturn. Nomura yesterday commenced its $1bn (£617m) savings programme, which is set to see one-third of its European investment bankers lose their jobs – many of whom [...]
What the other papers say this morning September 20, 2012 FINANCIAL TIMES EU faces bacon shortage as herds fall A global shortage of bacon beckons as European farmers continue to cull their pig herds in the face of higher feed prices, an industry association is warning. Data showing the EU pig herd is declining “at a significant rate” in a trend mirrored around the world [...]
What the other papers say this morning September 19, 2012 FINANCIAL TIMES Push to relax terms of tech IPOs A push to make it easier for high-growth technology companies to list in London will be launched by the government today. Ministers will put forward proposals including relaxing listing rules on the London Stock Exchange, allowing companies to list as little as 10 per cent of [...]
FTSE 250 entrant Workspace seeks up to £75m with bonds September 19, 2012 LONDON property firm Workspace Group yesterday announced plans to tap the retail bond market for between £50m and £75m with the launch of a seven-year sterling bond for retail investors. The firm, promoted to the FTSE 250 last week, said it would offer the bonds in a bid to help diversify its funding streams. The [...]
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 [...]