Time running out to halt City exodus October 27, 2010 IMAGINE the scene. It’s late 2011; Bob Diamond, Barclays’ boss, is posing with New York’s Mayor Michael Bloomberg in front of the firm’s New York headquarters. Bloomberg is boasting to the local media about how much he expects his city to make in extra tax receipts from Barclays’ relocation, which has just been completed. Meanwhile, [...]
NAB sees UK profits double October 27, 2010 THE owner of Clydesdale and Yorkshire Banks announced a rise in full year pre-tax profits of over 50 per cent yesterday after it advanced £4.7bn in mortgages and wrote down fewer bad debts. National Australia Bank (NAB) said lending had been subdued in the year to 30 September but that it was “firmly on track” [...]
TONIGHT WILL BE A NIGHT FOR HEARTY CELEBRATION October 27, 2010 THIS evening will see 450 guests in their finery roll up at the Grange hotel at St Paul’s, as City A.M. proudly hosts its first ever awards ceremony honouring the UK’s business stars and City luminaries. The award winners will come from a diverse range of sectors, from investment to retail banking, fund management and [...]
Investors: You have nothing to lose but your premiums October 27, 2010 BACK in 2002, covered warrants were launched on the London Stock Exchange with grand fanfare. And nobody cared. The products turned out to be something of a flop, with only £886,000 changing hands in the first week of trading. There is nothing intrinsically bad about covered warrants, however. In fact, they are quite remarkable – [...]
Finally, the City gets the retail hub it deserves October 27, 2010 DEVELOPMENT DIRECTOR AT LAND SECURITIES AFTER years in the making, I am very excited to introduce One New Change, the City of London’s newest and largest retail experience, as it opens at midday today. Boasting 60 stores over three floors, One New Change offers something for everyone. Some of the UK’s most loved brands, including [...]
The Square Mile’s long transformation continues October 27, 2010 POLICY CHAIRMAN, CITY OF LONDON CORPORATION THE wind of change is blowing through the City and in this instance, I am not referring to London’s financial heart in the wake of the economic crisis. I am talking about One New Change, Cheapside’s largest shopping destination, which is set to transform the Square Mile. Is that [...]
EVENTS | WHAT’S ON? October 27, 2010 THURSDAY 28 OCT OPENING DAY 12 noon: Join in the celebrations with special guests as One New Change is officially opened. Make sure you arrive a little earlier so as not to miss out on the fun. 12:30pm: Don’t miss the live musical performance from The Hoosiers. 4pm: Enjoy another live performance with The London [...]
While you’re in the City soak up the atmosphere and the history October 27, 2010 FOR centuries St Paul’s, and not the Stock Exchange, was where the City’s activity and bustle reached its highest pitch. A seventeenth century writer wrote of it that “the noyse in it is like that of Bees, a strange humming or buzze, mixt of walking, tongues and feet: It is a kind of still roar [...]
A SOBERING WARNING FOR OSBORNE AS CAM SWINGS INTO ACTION October 25, 2010 CHAOS as the great and the good gathered for the annual CBI conference on Park Lane yesterday. The delayed start gave David Cameron a chance to prove he’s been reading those zeitgeist briefings: “Sorry for the delay,” he told the gathered business chiefs and hacks. “Like Ann Widdecombe, I had to be hitched by a [...]
Impax sees strong rise in assets October 25, 2010 IMPAX Asset Management reported strong trading volumes yesterday, saying it expected full year revenue to be well ahead of last year on the back of an increase of 45 per cent in assets under management (AUM). It said AUM increased to £1.8bn this year compared with £1.2bn a year earlier. The Aim-listed investment manager added [...]