BANKERS SWAP CITY FOR DIY AND CAMPFIRES February 15, 2011 NEVER let it be said that the City is averse to getting a little dirt under its fingernails. On 12-13 March members of the banking community will be doing just that at Havens Hospices annual “I’m a banker…get me outta here!” event to raise money for the organisation’s hospices in Essex. Over the weekend, teams [...]
CHALLENGE FOR CITY FIRMS TO GO OFF ROAD February 14, 2011 FOR frustrated finance workers who fancy themselves as a bit of a Bear Grylls-type come the weekend, CARE International’s Finance Adventure Challenge might be just the opportunity to show your colleagues what you’re made of. City A.M. is supporting the Challenge this summer, giving City professionals a chance to ditch the suits and prove their [...]
Credibility low as UK dents IAG profit February 14, 2011 INSURANCE Australia Group (IAG), the nation’s top home and car insurer, warned its first-half net profit will more than halve and cut its full-year insurance margin outlook as its UK operations struggled and weather claims mounted. The warning caused IAG shares to fall as much as 5.3 per cent to A$3.58 in early trading, the [...]
PERSONAL FINANCE NEWS February 9, 2011 42 PER CENT PREFER DOG TO PARTNER It is a sad day for British romance when 42 per cent of British people prefer their dog or cat to their partner. A survey conducted by M&S Pet Insurance shows that when it comes down to the “me or the dog” question, 42 per cent would always [...]
What the other papers say this morning February 6, 2011 FINANCIAL TIMES GOLDMAN CASH STAGNATES AS ASSET PRICES RISE Goldman Sachs’ attempt to spend some of its $170bn (£106bn) excess capital on loans, real estate and other distressed assets is being hampered by a prolonged rebound in risk appetite that has lifted prices on many would-be bargains. Goldman’s “excess liquidity”, or cash deposits and securities [...]
Price hike Britain January 18, 2011 Fears were growing last night that Britain faces an explosion in the cost of living, with spiralling inflation threatening to erode savings and squeeze households already facing higher taxes. The consumer price index (CPI) shot up in December at the fastest rate since the Office of National Statistics (ONS) began reporting it in 1996, the [...]
Revenues jump at Eurotunnel January 18, 2011 CHANNEL TUNNEL operator Eurotunnel posted a 26 per cent rise in revenue for 2010 yesterday after the number of trucks carried on its shuttles through the tunnel rose 35 per cent. Eurotunnel said the volcanic ash disruption in April helped the firm return to its historic market share in cross-Channel transport, following the impact of [...]
What to do about financial illiteracy January 10, 2011 HERE is a suggestion for the City’s top banks: each should make an immediate and very large donation to a special new educational fund for financial literacy. I’m talking real money here, hundreds of millions for each of the mega-banks, as well as contributions from big insurers and wealth managers – when I first started [...]
Falling real wages don’t have to mean pain January 6, 2011 THANKS to inflation of 4.7 per cent, most workers will probably see cuts in the real purchasing power of their salaries in 2011. But there is no reason for that to cut into your living standards. Here are some easy New Year’s resolutions to follow that will help you endure austerity Britain without feeling too [...]
TOP FIVE DRIVES December 7, 2010 THE NÜRBURGRING Sooner or later any sports car owner that knows his stuff is going to want to take his car for a spin around the Nürburgring, the German race track generally considered to be the toughest and most dangerous race circuit in the world. The Nürburgring remains the benchmark by which car manufacturers measure [...]