CITY MOVES | WHO’S SWITCHING JOBS February 21, 2011 Chalsys Capital Partners Chalsys Capital Partners has appointed General Sir Mike Jackson as a special adviser, effective immediately. Jackson will provide specialist advice on renewable energy investments at the investment firm focused on clean tech, green infrastructure and natural resources. Jackson served as the UK’s chief of the general staff 2003-2006 after 45 years in [...]
Targetfollow administrators ready to finish last round of asset sales February 20, 2011 ADMINISTRATORS of two Targetfollow portfolios put into administration last autumn are set to wrap up the final asset disposals, City A.M. can confirm. Deloitte last week appointed agents to sell Targetfollow’s residential and retail buildings on Prince of Wales Road, Norwich. In a separate sale, Deloitte is considering options and offers for nearby Harford Place, [...]
City: No justice in FSA reforms February 17, 2011 TOUGH new powers planned for Britain’s new financial watchdog provoked angry exchanges yesterday in the City, with some lawyers calling the measures an affront to natural justice. Lawyers and firms have warned that the City’s new regulatory regime is being given powers that could reverse the ‘innocent until proven guilty’ rule of law. Under proposals [...]
London is world’s shopping capital February 17, 2011 London beat Tokyo, New York and Paris to be the highest grossing city for retail sales in 2010, according to a study of 22 major worldwide shopping destinations by Britain’s Centre for Retail Research. The study, commissioned by comparison website Kelkoo, found London generated £64.2bn of non-food retail sales last year.
What the other papers say this morning February 16, 2011 FINANCIAL TIMES OAKTREE RETURNS INVESTOR’S CASH Oaktree Capital’s distressed investment fund has returned $3bn of the $10bn it raised from investors, reflecting its difficulties in finding opportunities as the economy improves, people familiar with the matter say. The fund, run by Bruce Karsh, was among the most aggressive buyers of distressed debt after the failure [...]
Commodities dent FTSE 100 despite strong banking stocks February 15, 2011 BRITAIN’S s top share index closed lower yesterday as strength in banking stocks, inspired by forecast-busting results from Barclays, was outweighed by a broad retreat in the mining sector on commodity price wobbles. The FTSE 100 index closed down 23.01 points, or 0.4 per cent, at 6,037.08. The FTSE 250, FTSE 350 and AIM 100 [...]
Uncertainty hinders euro performance February 15, 2011 DISAPPOINTING US retail sales figures announced yesterday lunchtime failed to produce the increased yields on US Treasuries anticipated by traders, with the news allowing the euro to reach an early afternoon high of $1.3551. Combined with strong euro demand from Asia and the Middle East, the common currency stabilised itself against the dollar, rising 0.14 [...]
CANADA’S STRONG ECONOMY OPENS ITSELF UP TO FOREIGN INVESTMENT February 15, 2011 HEAD OF PRODUCT, BARCLAYS STOCKBROKERS Last week, the London Stock Exchange struck a deal with TMX Group, the operator of the Toronto Stock Exchange. The deal looks likely to reduce costs for users, offer greater levels of liquidity and provide broader access to mining and natural resources stocks. For investors, this is particularly attractive at [...]
Demand for London office space jumps February 14, 2011 OPTIMISM about the UK commercial property market is at its highest level since the onset of the credit crunch, thanks to a rebound in demand for central London offices, according to the Royal Institute of Chartered Surveyors (RICS). In the fourth quarter, 18 per cent per cent more surveyors said they expected new sales and [...]
West End shop sales soar ahead, defying post Christmas slump February 13, 2011 LONDON’S West End stores have seen strong growth in sales in January, despite the rise in VAT and sluggish wage growth, it was revealed today. Retail sales were up 5.8 per cent compared to the same time last year, the New West End Company said. An increase in menswear was particularly notable, it said, reporting [...]