The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
London Report: Retailers set to reveal scale of 2013 hangover January 5, 2014 RETAIL figures due this week will reveal whether Britain’s major brands are going into the New Year with a Christmas hangover. Marks & Spencer and Tesco are both set to report on Thursday, and J Sainsbury on Wednesday, with figures likely to show retailers faced a dismal festive season. Debenhams has already set the tone, [...]
Fact or Fiction 2013 December 19, 2013 Six of these stories happened in 2013, six didn’t – can you spot the real ones? 1 Ex-Goldman Sachs-er “Fabulous” Fabrice Tourre pulled out a love letter as part of his defence during his trial in New York. 2 The Lloyd’s of London building was sold to a Malaysian firm for £300m. 3 Tesco was [...]
Inside Track: My top tip for 2014: Deutsche Post will buy Royal Mail December 18, 2013 IT wouldn’t be the final column of a calendar year without some predictions for the next 12 months. Here are my top three: Royal Mail will complete a journey from being wholly-owned by the UK state to wholly-owned by a German enterprise within little more than 12 months. Deutsche Post won’t get it delivered cheap, [...]
City Moves for 19 December 2013 | Who’s switching jobs December 18, 2013 KPMG The professional services firm has hired Stephen Frost as head of diversity. He was formerly head of diversity and inclusion at the London Organising Committee of the Olympic and Paralympic Games from 2008 to 2012. Prior to that, Frost worked at Stonewall. Mizuho The securities and investment banking arm of the Mizuho Financial Group [...]
London Report: Supermarkets help to push FTSE down amid thin trading December 18, 2013 THE UK’s main equity index steadied in thin trade yesterday, with investors cautious before what is seen as a tight policy decision by the US Federal Reserve, and with a sell-off in retailers putting a lid on any gains. Strong US data, including yesterday’s forecast-beating housing starts, has fuelled expectations that the Fed could scale [...]
Supermarkets slump as half of UK shoppers head to discounters December 17, 2013 FOR THE first time ever, more than half of the UK shopped in either an Aldi or Lidl in the last three months, putting pressure on bigger retailers as the shift toward discount shopping continues unabated. Sales at Aldi surged by 30.7 per cent in the 12 weeks to 8 December while its smaller discount rival [...]
What the other papers say this morning – 18 December 2013 December 17, 2013 FINANCIAL TIMES French seek EU defence fund Plunged into its second African military mission in under a year, France is showing increasing frustration at what it sees as a lack of spine among European partners on defence issues. In an effort to put its allies on the spot, President François Hollande is poised to demand, [...]
Supermarket fuel war reignites as Tesco and Asda drop prices December 17, 2013 THE SUPERMARKET fuel price war sparked off once again yesterday, after two major chains introduced new price cuts, effective from this morning. Tesco and Asda are both dropping the price of petrol by up to 2p per litre and diesel by 1p per litre. Spokespersons from Morrison’s and Sainsbury’s confirmed yesterday that they were not [...]
London Report: Supermarket slump sees FTSE fall again after Monday’s lift December 17, 2013 BRITAIN’S main equity index fell yesterday, with big supermarket groups hit by fresh signs of a loss of market share, while uncertainty over future US monetary policy also weighed on the market. The blue-chip FTSE 100 index closed down by 0.6 per cent, or 36.01 points, at 6,486.19 points, retreating after a 1.3 per cent [...]