Sandler joins Pearl as chair September 24, 2009 PEARL, the insurer founded by pubs-to-pizza entrepreneur Hugh Osmond, has confirmed Northern Rock head Ron Sandler is joining as chairman. The group has taken on Sandler ahead of its planned secondary listing on the London Stock Exchange in the fourth quarter. Sandler was put in charge of failed mortgage lender Northern Rock after it became [...]
A savage satire of corporate crime September 24, 2009 TheatreENRONRoyal Court TheatrePOST credit crunch, the Enron collapse might seem like a disaster from another age. But in Lucy Prebble’s scintillating play the scandal is shown as the blueprint for the meltdowns that came after it. “There’s a strange thing goes on inside a bubble,” says one character. “People inside it can’t see outside, don’t [...]
Dollar’s days as the world’s only reserve currency could be numbered September 23, 2009 OVER the next two days, world leaders gathered at the G20 summit in Pittsburgh will attempt to address the issue of the persistent global imbalances that have been cited as a long-term cause of the recent economic downturn. Integral to this debate has been the long-standing issue of the US dollar’s hegemonic status as the [...]
Bank on Green’s for top-notch nosh September 21, 2009 Green’s Restaurant and Oyster Bar14 Cornhill, London, EC3V 3NDTel: 020 7220 6300FOODSERVICEATMOSPHERECost per person without wine: £35 THERE are precious few dinings rooms in the City with the “cor blimey” factor, so the news that a new restaurant was opening in the old Lloyds Banking Hall set us nodding like the dog on the Churchill [...]
CITY MOVES WHO’S SWITCHING JOBS September 20, 2009 Land SecuritiesThe property group has appointed Robert Noel, 45, as managing director of its London portfolio, effective from next January. Noel, who will also join the group’s board, has been property director at rival Great Portland Estates since 2002. He also currently holds positions as chairman of the Westminster Property Association and as a non-executive [...]
OUT OF OFFICE September 16, 2009 BOOK NOW: AN INSPECTOR CALLSStephen Daldry’s award-winning production of JB Priestly’s The Inspector Calls is back in the West End of a limited eight-week run. The parable, which takes the form of a police investigation into the death of a young girl, explores the conflict between selfish individualism and social responsibility, is riveting and a [...]
Back in the real world: how the rest of the country is coping a year on September 14, 2009 LET ME tell you about two pieces of writing. The first, a sign in an independent wine shop in an expensive part of London which I regularly cycle past on my way to work. It reads: “Just because we’re in recession doesn’t mean we have to drink bad wine.” The second is a piece of [...]
The Galvins’ new City restaurant will be the ultimate family affair September 9, 2009 IT’S not about the money,” says Chris Galvin, as he sips a cappuccino outside the site of his new restaurant next to the glass buildings that stand around the revamped Spitalfields market, with the Gherkin poking its head over the buildings in the distance. His brother and his wife nod. It’s an unusual thing to [...]
Six myths about the financial crisis September 6, 2009 A comfortable, corporatist consensus is building up about how to deal with the financial crisis. Led by Alistair Darling and his French and German counterparts at the G20 finance ministers’ summit on the weekend, this consensus is essentially that the financial crisis “proves” that global free market capitalism has “failed” and that everything is the [...]
Swapping blue chips for poker chips September 3, 2009 IN LAS VEGAS the locals have a new term for betting. It’s not gambling, it’s a “contributory anti-recession programme”. Even the bell-boy who attends to your special-price Palazzo suite says not “have a nice day”, but “thank you for contributing to our economy”. They said Vegas would be recession-proof, that even in a downturn people [...]