MPs call for bank reforms to be delayed August 31, 2011 A GROWING number of Tory backbenchers are calling for sweeping banking reforms to be delayed over fears they could damage the fragile economic recovery. Their intervention came as Vince Cable (pictured), the business secretary, attacked UK banks for being “disingenuous in the extreme” after they argued the Vickers reforms could force them to scale back [...]
CITY MOVES | WHO’S SWITCHING JOBS August 31, 2011 Argonaut Capital Partners The European equity boutique with £1.1bn of assets under management has appointed Edward James, formerly head of operations at Octopus Investments, as chief operating officer. Prior to Octopus, James worked at Euroclear, where he led the firm’s expansion into the UK fund processing model and managed the purchase of EMXCo, and at [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]
House price slump is already upon us August 30, 2011 HOUSE prices remain overvalued in Britain, locking out many aspiring buyers. Of that there is no doubt. But it is also the case that average prices have fallen far more than is usually understood; the single biggest reason why so many younger people cannot enter the market is because they have to put down much [...]
Banks rally but City frets over ringfence August 30, 2011 BRITISH banks’ share prices rallied dramatically yesterday as London played catch up with world markets after Monday’s holiday. Analysts said that investors were pricing in the possibility of further quantitative easing due to the Federal Reserve’s September meeting being extended from one to two days. But UK lenders were also helped by a bullish note [...]
City sales set to net £250m for Ireland August 30, 2011 A NUMBER of major City property developments are expected to come up for grabs for £250m when a long-awaited sale by Irish investors begins next month. Among the buildings ready to be sold it 107 Cheapside, the upmarket development near St Paul’s Cathedral. The office and retail building, opened three years ago, was developed by [...]
CITY MOVES | WHO’S SWITCHING JOBS August 30, 2011 HSBC Private Bank HSBC Private Bank has appointed Katharine Brace as associate director on the media and entertainment team. Brace, who will report to Nick Price, managing director and global head of the media and entertainment group, joins from Barclays Wealth, where she was a vice president in the sports, media and entertainment team. Prior [...]
John Lewis continues to win market share August 26, 2011 John Lewis bucked the general gloom in the retail sector with another rise in weekly sales as it continued to win market share from rivals. The employee-owned business, which has been outperforming competitors for over a year, said on Friday sales at its department stores increased 2.6 per cent to £53.4m in the week to [...]
Wealth destruction the new normal August 23, 2011 WEALTH preservation is now the name of the game in the West. The challenge, for most people, is not to make more money: it is to try and preserve what they have. Declining equity and property prices, ultra-low interest rates, lowish pay rises, elevated inflation and increasing taxes are combining to squeeze nearly everybody. This [...]
GOODMANS RAISES THE STEAKS IN MAYFAIR August 23, 2011 CONTINUING the theme of the boom in the City’s resurgent restaurant scene, as reported yesterday, The Capitalist hears steakhouse Goodmans is plotting not one but two launches for November. One is a traditional Goodmans restaurant on the South Quay at Canary Wharf to complement the City and Mayfair venues. The other marks a new direction [...]