Chinese expansion healthy for City of London May 22, 2011 UNLESS witnessed first-hand, it is difficult to grasp the sheer scale of economic growth in China or the level of international investment that has continued unabated despite the recent financial crisis. As a member of the Shanghai International Advisory Council – whose annual meeting I attended last week – I have been left in no [...]
How to become George Clooney’s neighbour May 19, 2011 NABBING a sneaky peak of George Clooney sun bathing is surely priceless. And yet after some investigation, it turns out it might not be as expensive as you’d think. For the sum of €850,000 you could actually own the apartment next door to Clooney on Lake Como – an apartment that benefits from views directly [...]
TURTLES DITCH DAY JOB FOR HEDGE FUND BREAK May 18, 2011 SOME of the City’s brightest talents will hand in their notices this week to pursue potentially even more lucrative careers as hedge fund traders. Oxbridge graduate Will Jukes, 27, who trained at Ernst & Young before working at RBS and most recently as a freelance financial analyst, will be much missed by his well-known Westminster [...]
Sterling’s outlook waiting on rates May 17, 2011 IG INDEX DAVID JONES Tuesday saw the usual flurry in forex markets when the latest UK inflation figures were released, showing annual CPI at a larger than widely expected 4.5 per cent. The pound rallied half a cent against the US dollar in very short order and then over the course of the next few [...]
FirstGroup holds out for long-term train contract May 11, 2011 BRITISH transport operator FirstGroup has said it will not take up the option to extend its First Great Western franchise for three years beyond 2013 so it can bid for a longer-term deal. “We have made the commercial decision not to take up the option to extend the First Great Western franchise for a further [...]
Tube walkouts called off May 10, 2011 A RUN of crippling Tube strikes due to start next Monday have been called off following secret talks between Transport for London boss Mike Brown and union officials. He told RMT Union leader Bob Crow that a driver at the centre of the dispute would be re-instated in order to avoid “significant disruption for London”. [...]
Tube strike called off May 10, 2011 The two-week Tube drivers’ strike due to start next Monday was called off after a deal was struck through secret negotiations. Transport for London chief Mike Brown held talks with the RMT union and told leader Bob Crow that a driver at the centre of the dispute will be re-employed. Brown said the deal had [...]
Boris calls for strike law May 9, 2011 MAYOR Boris Johnson has insisted a change in the law is needed to stop industrial action grinding London’s transport network to a halt. His call comes despite criticism from ministers over his handling of unions planning to hold a run of Tube strikes from next week. Senior cabinet ministers told him to engage with the [...]
Serco “on target” thanks to contract wins May 9, 2011 Outsourcing group Serco said it was on track with its 2011 expectations after some strong contract wins and was well placed to achieve future revenue targets. Serco, which among other things runs London’s cycle-hire scheme and Dubai’s metro, said it had won £1.6bn worth of work since the start of its financial year on 1 [...]
Hammond slams strikes May 5, 2011 Transport secretary Philip Hammond has branded the latest round of Tube strikes “highly irresponsible” and said the union’s behaviour will lead to tougher industrial laws. The RMT union, headed up by Bob Crow, has announced six strike days. They will down tools for between nine and 24 hours between 16 and 20 May and again [...]