WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
CITY VIEWS: WOULD YOU BUY A HYBRID AS YOUR NEXT CAR? April 6, 2011 Save or Borrow peer to peer at RateSetter.com SIMON FOSS | RSA INSURANCE “I wouldn’t buy a hybrid as I live in central London so it’s easier for me to use local transport. The benefits are interesting, but I couldn’t take advantage of them anyway.” ALAN GAUDENCIO | WELLS FARGO “No, as it doesn’t suit [...]
Disasters cut Lloyd’s profits March 30, 2011 LONDON’S insurance market Lloyd’s paid out more than £2bn in global catastrophe claims in 2010, pushing its profit down 43 per cent to £2.2bn, it said yesterday. It said the fall was to be expected in a year that saw net claims of £2.18bn and the third-highest level of catastrophe losses in 15 years apart [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2011 FINANCIAL TIMES ICBC HEAD PLAYS DOWN POST-CRISIS LOAN RISK China’s largest bank lent Rmb640bn ($61bn) to local governments in the post-crisis credit boom, but insists these loans do not pose a danger to the country’s banking system. In an interview with the Financial Times, Jiang Jianqing, chairman of Industrial and Commercial Bank of China, the [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? March 23, 2011 CATHERINE GANNON, 48 MANAGING DIRECTOR OF CITY LAW FIRM GANNONS LAW LLP Catherine is single with two children, earns a gross income of over £100,000 a year and pays a mortgage on her family home. She has a share portfolio and also has mortgages on various investment properties. She does not drink or smoke. She [...]
FTSE rally ends as Middle East fears resume March 22, 2011 Rising tensions in the Middle East and shrinking appetite for risk caused stocks to give up ground today, ending a three-day rally. Poor UK economic data added to the market’s woes, with inflation and public borrowing hitting new highs. The FTSE 100 closed 0.4 per cent down at 5,762.71. “It is not too surprising that [...]
Luxury firms take a tumble March 14, 2011 THE DISASTER in Japan pummeled manufacturing and luxury goods stocks yesterday, alongside insurers and energy firms, as markets across the world ended lower. Burberry, which says it makes a significant portion of its profits from its Japanese licenses, fell 4.3 per cent in London trading yesterday. Hermes, which makes 19 per cent of its sales [...]
THE PARTY’S OVER FOR TCHENGUIZ BROTHERS March 9, 2011 THEY came, they saw, they conquered – and then the Tchenguiz brothers were arrested by the Serious Fraud Office yesterday morning in connection with the collapse of the Kaupthing Icelandic bank. The dramatic raid at the property developers’ Mayfair HQ has been the talk of the MIPIM property fair at Cannes, where the brothers were [...]
SNOW’S THE STAIR MASTER IN THE RACE OF THE THOUSAND STEPS March 3, 2011 HERE’S a story with legs: the results of the third annual Vertical Rush race up the 920 dizzying steps of City skyscraper Tower 42 in aid of housing charity Shelter. Setting off in hourly slots, 1,200 chip-timed runners – including racers from Legal & General, Schroders, Threadneedle, Tullett Prebon and KPMG – vied to see [...]
FTSE slips lower but profits from StanChart help cheer March 2, 2011 RALLYING banks boosted by results from Standard Chartered helped Britain’s top share index pare losses yesterday, but the index still closed lower as geopolitical concerns continued to dog sentiment. The FTSE 100 closed down 20.87 points, or 0.4 per cent, at 5,914.89, as lingering political concerns in the Arab world continued to dent confidence and [...]