CITY MOVES | WHO’S SWITCHING JOBS September 26, 2010 Barclays Leigh Clifford, the chairman of Qantas Airways, is to step down from his role as a non-executive on the Barclays board at the end of the month. Clifford joined the bank’s board in October 2004. In addition to his position at Qantas, he is also a director of engineering giant Bechtel Group and a [...]
WORLD’S RICHEST RACK UP THE BILLIONS September 23, 2010 GOOD times are rolling back, steadily and surely, if the latest Forbes rich list is anything to go by. Amid all the doom and gloom last year, well over three quarters of the 400 billionaires on the list saw their wealth tank, with almost $40bn (£25bn) draining out of the coffers of the top ten. [...]
Redhall in £16m bid for Mount September 22, 2010 BRITISH engineering support services firm Redhall yesterday announced it had made an offer to buy rival Mount Engineering for around £16.4m to expand into international energy markets. Redhall, which caters to the nuclear, oil and gas, food, defence, safety and security and transport infrastructure sectors, has irrevocable undertakings or letters of intent from 45 per [...]
Rents in New Bond Street top euro list September 21, 2010 NEW Bond Street has taken over from the Champs-Elysées as the most expensive shopping location in Europe, according to a survey. Rents also grew faster there over the last year than on any other shopping street in the world. They soared 19.4 per cent to £536 ($836) per square foot over the last 12 months, [...]
How to make a saloon car sexy September 21, 2010 Forget large SUVs. This is the Mitsubishi ASX crossover and it is the future of family SUVs – well, as far as Mitsubishi is concerned. Now that driving a proper 4×4 through the boroughs of Islington or Wandsworth is such a complete no-no, thank goodness that the car manufacturers have come up with an alternative [...]
FTSE 100 gets a US boost to close at a four-month high September 20, 2010 Britain’s leading share index extended early gains to close strongly yesterday, after US market bulls helped London to its highest close since late April. The FTSE 100 closed up 94.09 points, or 1.7 per cent, at 5,602.54, more than reversing the 0.6 per cent decline in Friday’s session after risk appetite made a strong return. [...]
CITY MOVES | WHO’S SWITCHING JOBS September 20, 2010 Matrix Group The financial services group has taken on Peter Bax as head of property asset management. Bax was most recently a portfolio manager at Citi Property Investors for nine years, having previously held the position of vice president of global real estate investment origination at Citi’s private banking arm. He also formerly worked for [...]
Londoners hit as house prices fall September 19, 2010 THE UK HOUSING market dropped back for the third month in a row in September, with London prices now also moving into the red. Figures from Rightmove show that average asking prices across the UK dropped by 1.1 per cent to £229,767 compared with the previous month. Prices have now fallen back by a total [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 19, 2010 THE SUNDAYS The Sunday Telegraph CHEYNE CAPITAL SHUTS EQUITY FUND AFTER POOR PERFORMANCE London-based hedge fund Cheyne Capital has closed a much-heralded equities fund only a year after it opened. The fund, which it is believed was equivalent to around 1 per cent of the approximate £5bn Cheyne has under management, closed after a dissapointing [...]
Visa pushes new mobile phone payment systems September 19, 2010 VISA will roll out a network that will allow its customers to pay for goods using their mobile phones in time for the 2012 Olympics. The world’s biggest payment processing firm hopes the new technology will allow it to corner the small transactions market, which is still dominated by cash purchases. The firm believes the [...]