Foyles to open a shop in One New Change October 3, 2010 BOOKSELLER Foyles is to open its first branch in the City after signing for space in the One New Change shopping centre near St Paul’s Cathedral. The book shop’s fifth branch in London will open on 28 October, the same day as the retail centre is set to launch. Land Securities, developer of the mall [...]
Orange JV announces 1,200 jobs will be axed September 30, 2010 EVERYTHING Everywhere, the tie-up between France Telecom’s Orange and Deutsche Telekom’s T-Mobile in the UK, said yesterday it would cut 1,200 back office and management jobs. The company said the roles were duplicated across the two businesses, which merged in July, and will affect around 7.5 per cent of its 16,000 strong workforce. Everything Everywhere [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 29, 2010 FINANCIAL TIMES WAITROSE EYES DUCHY ORIGINALS US PUSH Waitrose is making its first foray into the US through its Duchy Originals range, the label founded by Prince Charles. The supermarket arm of the employee-owned John Lewis Partnership is talking to North American retailers and distributors about selling Duchy Originals products in US stores. PENSIONS REGULATOR [...]
Tap into Asian growth with Far East ETFs September 29, 2010 WHETHER you subscribe to the belief that the 21st century belongs to China or not, there is no doubt that it certainly belongs to emerging markets and particularly to those in the Far East. The story is a familiar one: these countries have transformed themselves from rural backwaters to the new hub of the global [...]
IoD slates regulation plan September 28, 2010 THE Institute of Directors (IoD) yesterday became the latest organisation to join the London Stock Exchange (LSE) in opposing the merger of the Financial Reporting Council and the UK Listing Authority (UKLA). In a statement, Miles Templeman, director-general of the IoD, said it made no “sense to leave the UKLA separate from the body [the [...]
CITY MOVES | WHO’S SWITCHING JOBS September 28, 2010 Insurance Institute of London The IIL has elected Stephen Catlin, the chief executive of the Catlin Group, as its new president, taking over from Willis group president Grahame Millwater. Catlin, who founded the insurer in 1984, has also previously served as chairman of the Lloyd’s Market Association and a member of the Lloyd’s Franchise Board. [...]
RBS AXES 500 MORE STAFF September 27, 2010 ROYAL Bank of Scotland (RBS) will shed up to 500 jobs from its investment banking arm, it announced to staff yesterday. City A.M. understands the redundancies – most of which will affect London-based employees – will be in the bank’s backroom departments with its IT and marketing departments likely to be most affected . Client-facing [...]
Price of gold could hit $1,500 September 27, 2010 THE price of gold could reach record highs of up to $1,500 (£949) an ounce in the next twelve months delegates at the London Bullion Market Association (LMBA) annual conference said yesterday. The majority of delegates saw the price of gold rising to $1,406 an ounce by September next year but 32 per cent of [...]
GOVERNANCE TRAINSPOTTERS GET KNICKERS IN A TWIST OVER FLINT September 27, 2010 IT’S been a tiring week for HSBC, which is currently juggling the handling of a full-scale management game of musical chairs, the fallout from its leaky succession-planning AND a band of disgruntled sticklers for corporate governance among its shareholder base. So it’ll come as a welcome surprise for the bank to learn that a conservative [...]
Wal-Mart set to offer $4bn for Massmart September 27, 2010 WAL-MART is in talks to buy South Africa’s Massmart, in a $4bn (£2.52bn) deal that would give the US retailer a big presence in fast-growing Africa and boost its emerging markets strategy. Wal-Mart has made a non-binding proposal of 148 rand (£13) per Massmart share, valuing it at around 30 billion rand (£2.7bn), a premium [...]