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 [...]
Some good news in a gloomy world February 10, 2011 BRITAIN is losing market share in global investment banking, retail banking and private equity – and has been hammered especially badly in hedge funds and energy trading, where firms and people have upped sticks to Switzerland. But it is not all grim for the City. Two areas that are still doing well are foreign exchange [...]
CITY MOVES | WHO’S SWITCHING JOBS February 10, 2011 Alvarez & Marsal The global independent professional services firm, today announced the appointment of Stuart Ells, a seasoned media and entertainment expert, to its European performance improvement business. His arrival marks the formation of a specialist media & entertainment team focused on supporting both corporates and portfolio companies of private equity firms in this sector, [...]
What the other papers say this morning February 8, 2011 FINANCIAL TIMES BRUSSELS URGED TO END BIG FOUR DOMINANCE Four international accountancy networks have taken the unusual step of jointly calling for changes to the audit market in Europe and arguing that regulatory intervention is needed to dilute the power of the profession’s biggest operators. BDO International, RSM International and Grant Thornton International, the world’s [...]
FTSE dips as banks come under pressure February 8, 2011 The FTSE 100 dipped this morning despite strong results from Xstrata and BG Group. The index has gained in four out of the last five trading sessions – regularly surpassing the 6,000 barrier, but banking stocks were among the poorest performers today. Commodities dipped as the price of copper came down after a record high [...]
Retailers boost recovery hopes February 7, 2011 Spending on the UK’s high streets bounced back in January after December’s sales were hit by heavy snow, it will be revealed today. The news comes after the FTSE jumped 53.65 points yesterday – a rise of 0.89 per cent – breaking through the confidence-boosting 6,000 mark to close at 6,051.03. Retail sales were up [...]
Brian Brick breathes new life into outfitter February 7, 2011 BRIAN Brick is in the middle of a turnaround plan to restore Moss Bros to health after the ailing 88-year-old retailer lost its way. His reputation in the clothing industry is that of an effective, low-key retailer with an eye for detail. The scale of his task was shown by a pre-tax loss of £3m [...]