The law firm leaders joining the global dots January 26, 2014 Baker & McKenzie’s jet-setting duo tell Elizabeth Fournier how they stay ahead FOR A law firm that is less than 70 years old, Baker & McKenzie has an impressive global footprint. From humble beginnings at the hands of co-founders Russell Baker and John McKenzie in Chicago in 1949, the firm now employs more than 4,000 [...]
Investor access to UK boosted by wealth visas January 26, 2014 THE NUMBER of UK visas issued for foreign investors swelled by a quarter in 2012-13, with high-net worth Chinese visitors making up the largest share of applications. International law firm Pinsent Masons reveals today that 530 investor visas were issued in 2012-13, up from 423 in 2011-12. The number of visas issues has nearly doubled [...]
The Mints are falling apart: It’s time to reassess our view of emerging markets January 26, 2014 TO PARAPHRASE Antony in Julius Caesar, I come to bury the Mints idea, not to praise it. True, as with its Brics ancestor, former Goldman Sachs Asset Management head Jim O’Neill has hit upon something vitally important by identifying Mexico, Indonesia, Nigeria and Turkey as future economic giants. With the Brics, it was that the [...]
Partnerships may be the big trend in 2014 January 26, 2014 Annabel Palmer talks to MediaCom’s Karen Blackett WHEN Karen Blackett, UK chief executive of MediaCom, got her first big break in 1993, it was over a year before Wired magazine launched the first ever ad on the World Wide Web. She talks to City A.M. about her career, adapting to a rapidly-changing industry, and the [...]
Petropavlovsk’s production on track but low gold price weighs January 23, 2014 THE CHAIRMAN of Petropavlovsk yesterday warned that there might be more job cuts and that management bonuses would be cancelled once again, as the Russia-focused gold miner prepares for another challenging year. Peter Hambro, who founded the FTSE 250-quoted company, told City A.M. that “life is not easy for any of the miners” and that [...]
2 more gold miners slash production – What will 2014 bring for them? January 23, 2014 Last year gold prices tumbled 28 per cent – the worst fall in thirty years – and the slump in the price of the yellow metal is hitting this year’s output. Production costs are flooring and, in response, miners around the world have slashed costs, delayed new work and hedged. Today, two Russian gold miners – [...]
IMF backs down from UK criticism as forecast hiked January 21, 2014 THE INTERNATIONAL Monetary Fund (IMF) has flipped its position on the UK economy, confirming a large positive revision to its forecast for this year’s economic growth. Having criticised chancellor George Osborne for “playing with fire” only eight months ago, IMF chief economist Olivier Blanchard said yesterday that the recent recovery is sustainable, explaining the IMF’s [...]
Unilever surprises with a stronger end to year January 21, 2014 CONSUMER goods giant Unilever reported a better-than-expected finish to its financial year thanks to a rebound in sales in some emerging markets, sending shares higher yesterday. The company behind Lipton Tea and Dove soap surprised the market in October after issuing its first profit warning in almost a decade. It blamed an accelerated slowdown in [...]
IMF makes big boost for UK official January 21, 2014 The International Monetary Fund (IMF) forecast for UK growth this year has been rapidly revised upwards today, from the 1.9 per cent projection in October, to 2.4 per cent. In April last year, the IMF expected growth of only 1.5 per cent for the UK. As widely expected, the Fund is easing off on criticism [...]
Unilever dogged by currency headwinds and competitive markets January 21, 2014 "Good progress in tough markets" is the phrase Unilever has chosen to describe its performance in 2013. The Anglo-Dutch products giant said its determined to improve by “driving out complexity and cost”. In its full year results for 2013, Unilever reported underlying sales growth of 4.3 per cent (4.1 per cent in the fourth quarter) [...]