Market abuse trader turns up at XCAP May 18, 2010 A CITY trader who was fined for market abuse by the regulator six years ago has returned with the launch of a new investment bank. Chris Potts was head of market making at Evolution Securities when he was slapped with a £75,000 penalty by the Financial Services Authority in 2004. The charge, meted out for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 17, 2010 FINANCIAL TIMES FERROUS STEELS ITSELF FOR LONDON FLOAT Ferrous Resources, the Brazilian iron ore miner, confirmed its intention to list in London next month, adding momentum to a new round of mining and energy flotations in the capital of resources finance. With an expected valuation of about $4bn (£2.8bn), Ferrous could be the biggest “pure-play” [...]
Brussels is about to clobber the City May 16, 2010 HOW absurd. A successful British industry, one which even banker-bashers admit wasn’t responsible for the financial crisis, will this week be hammered by the European Union, marking the new government’s first foreign policy defeat and the latest blow to London’s prosperity. I’m of course referring to the EU’s attack on alternative investment managers, including hedge [...]
London sales are slowed by volcanic ash May 16, 2010 RETAIL sales growth in London has slowed after the ash cloud crisis took its toll, according to the British Retail Consortium. Sales were up 3.6 per cent in April while they had jumped by 5.1 per cent in the same month last year. The volcanic ash cloud which billowed across Europe grounded flights for six [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 12, 2010 FINANCIAL TIMES INDIAN TELECOMS GROUPS HIT OUT AT CHARGES Telecoms companies in India have raised alarm over a threat of retrospective charges for users of mobile spectrum that analysts warn could cost them hundreds of millions of dollars. The move by the Indian telecoms regulator has provoked interest from Bharti Airtel and Vodafone Essar. MICROSOFT [...]
SuperGroup sales surge as youth spending stays strong May 11, 2010 YOUTH fashion retailer SuperGroup, which floated on the London Stock Exchange in March, saw sales soar by 83 per cent to £139m in the year to 2 May. The company, whose Superdry brand is sported by celebrities including David Beckham, said it expected to make a pre-tax profit of at least £25.7m. SuperGroup has 43 [...]
Lloyds sells off property May 9, 2010 BRETT Palos, the stepson of Sir Philip Green, has added more than 500 apartments to his property portfolio after successfully buying them in a £400m deal with Lloyds Banking Group. The deal is likely to kick start a string of residential sales from the banks as they look to reduce their exposure to the property [...]
The girl that’s helping City ladies sparkle May 6, 2010 LAUREN Adriana could have taken the easy route of gliding, It-Girl style, through her twenties. At 24, she is fashion aristocracy, being the grand-daughter of designer Paul Smith and the child of fashion world insiders. She’s friends with all the right people (including the world’s most famous jeweller Joel Arthur Rosenthal, known as JAR) and [...]
Liberty feels good about occupancy rates after UK retail market stabilises May 5, 2010 LIBERTY International said yesterday that shopping centre occupancy rates will stay firm in 2010, thanks to the stabilisation of the UK retail market. Occupancy at Liberty’s shopping centre division, Capital Shopping Centres (CSC), has been maintained at 98 per cent for the period 1 January to 5 May. Patrick Burgess, chairman of Liberty International said: [...]
The man who could be chancellor plans radical changes for the City May 3, 2010 Allister Heath and David Crow pay a visit to Vince Cable ahead of the last week of the election campaign FEW politicians have emerged from the financial crisis with their reputation intact. Vince Cable must be the only one who has actually enhanced his, with his brand of left-wing policies playing perfectly to the shifting [...]