CITY MOVES | WHO’S SWITCHING JOBS February 15, 2012 Octopus Investments The fund management company has hired James Almond to join the 30-person specialist finance team to work under the head of the unquoted division, Alistair Seabright. In the new role, Almond will structure new funds and investment products for both institutional and retail investors. He joins from Cornhill Asset Management, where he was [...]
Moody’s UK warning hits FTSE 100 February 14, 2012 The FTSE dipped this morning after debt rating agency Moody’s warned it could downgrade top-rated sovereigns including Britain. Moody’s grim assessment sapped some of the confidence of investors who had been encouraged by Greece finally agreeing a package of austerity measures to steer it away from a default. The move put the UK’s rating in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 13, 2012 FINANCIAL TIMES HONDA TO ACCELERATE OUTPUT IN EUROPE Honda says it will nearly double its production of cars in Europe as it seeks to reduce its reliance on imports form Japan and recover from a disastrous year. The carmaker’s European boss said that Honda aimed to increase production at its main European plant in Swindon [...]
CITY MOVES | WHO’S SWITCHING JOBS February 13, 2012 Avoca Capital The European credit investment manager has strengthened its credit offering by hiring Credit Suisse banker Vaibhav Piplapure, who joins as head of structured and illiquid credit. At Credit Suisse, Piplapure was most recently head of asset finance for Europe in the securitised products group. Prior to that, he was global head of the [...]
Retail gloom takes toll on British Land February 9, 2012 BRITISH LAND has seen growth of its net asset value stall in the third quarter as the ongoing consumer downturn led to a slight dip in value across its retail portfolio. The landlord – whose tenants include Tesco, Sainsbury’s and Debenhams – said its retail estate, which accounts for 61 per cent of its property [...]
FTSE up as Greek endgame arrives February 9, 2012 The FTSE 100 crawled up this morning as investors braced themselves for an expected decision on a Greek debt deal and the prospect of the Bank of England pumping in another £50bn into its quantitative easing programme. Greek officials said pension cuts were the sticking point in talks which have lurched from one crisis point [...]
Investors waiting for Greece put the brakes on FTSE rally February 8, 2012 BRITAIN’S blue chips closed a touch lower yesterday as investors awaited more clarity on a Greek debt deal. Greek party leaders gathered to agree reforms needed to secure a new EU/IMF rescue package necessary to avoid a chaotic default that would aggravate Europe’s financial crisis. Rating agency Standard & Poor’s added pressure on negotiations between [...]
Miners buoy FTSE as Greece remains on knife edge February 8, 2012 The FTSE 100 opened on the front foot this morning as investors continued to cling onto hopes that Greece could be steered away from financial meltdown. Greek party leaders were set to meet again today to hammer out a reform deal in return for the new €130bn rescue from the IMF and EU. Leaders of [...]
ONE HYDE PARK LOOKS FOR RETAIL BUYERS February 7, 2012 The developer of One Hyde Park, the luxury residential and retail complex in London’s Knightsbridge is looking to sell one of its stores on the ground floor for at least £21m. Project Grande, a joint venture between CPC Group and the Qatar Prime Minster, has appointed Savills to sell the space rented by the Abu [...]
Webster to step down as IHG chairman February 5, 2012 DAVID Webster, the long-standing chairman of Intercontinental Hotels Group, is to stand down after eight years at the helm of the world’s largest hotel group. A source close to Webster said that no date had been set yet for his departure, but that he is likely to leave later this year. The owner of Holiday [...]