Airline’s ambitions to join the FTSE 100 sped Rake’s departure January 27, 2013 AT first sight, the departure of Sir Michael Rake as EasyJet chairman is a victory for Sir Stelios Haji-Ioannou, the company’s founder turned thorn-in-its-side. Sir Stelios sought Sir Michael’s removal last summer, following the BT chairman’s appointment to deputy chairman at Barclays, arguing overcommitment. However, despite public criticism by EasyJet’s largest shareholder, Sir Michael held [...]
Knight Capital suffers huge profit loss after volume drop January 24, 2013 ELECTRONIC trading firm Knight Capital posted a dismal set of figures yesterday, with an 84 per cent drop in earnings and 16 per cent decline in revenue. The firm, which stood on the brink of collapse last summer after a trading glitch delivered a $460m (£291m) loss to the business, is currently being taken over [...]
City Moves for 25 January 2013 | Who’s switching jobs January 24, 2013 Vestra Wealth Management Heinz Schmid has been appointed fixed income strategist in the wealth management firm’s investment team. He joins from Investec, and was previously head of UK fixed income at BNP Paribas. Schmid has also managed HSBC Investment Management’s sterling fixed income team, and held a number of roles at UBS. Centrus Advisors Geoff [...]
City Moves for 21 January 2013 | Who’s switching jobs January 20, 2013 Stonehage Group The European family office has appointed Rupert Hague-Holmes as a director in its private client and trust department. He joins from Kleinwort Benson, where he was head of legal services and group legal director. Hague-Holmes was also previously managing director of Close Brothers’s offshore businesses. Charles Taylor Tito Soso has been appointed group [...]
Lovefilm brings stateside shows to UK January 16, 2013 LOVEFILM has inked a deal with US network NBCUniversal that will bring shows such as 30 Rock (pictured), the US version of sitcom The Office, and 1980s cult classic Knight Rider to its streaming service. Amazon-owned Lovefilm is aiming to boost its catalogue in the wake of competition from Netflix, which has invested in exclusive [...]
Lenders report rise in number of home loans January 16, 2013 MORTGAGE loans ticked up in November, an influential group of lenders said yesterday, with a rise in the number of first-time buyers providing a welcome boost to the figures. The number of loans for house purchases grew by six per cent in the penultimate month of 2012, the Council of Mortgage Lenders (CML) found. Mortgages [...]
Shoreditch set for £75m facelift January 10, 2013 PLANS were submitted this week to regenerate a site in London’s East End that has lain derelict for more than 30 years into a new £75m commercial hub. The proposed scheme, known as Shoreditch Village, will create 150,000 square feet of commercial-led space, including a 180-bed hotel, 20,000 sq ft of offices, 42,000 sq ft [...]
City Moves for 11 January 2013 | Who’s switching jobs January 10, 2013 Rathbones The investment management firm has appointed Mike Townsend as investment director. He joins from Coutts, where he was a senior private banker. Townsend has 34 years’ experience in wealth management, and is a member of the Chartered Institute for Securities and Investment. City Financial The fund management firm has appointed Mark Harris as manager [...]
ARM chip deal raises worries for Imagination January 9, 2013 THE WORTH of Imagination Technologies’ $100m (£62m) acquisition of US technology firm MIPS was thrown into doubt yesterday as one of MIPS’ biggest customers signed a deal with British microchip designer ARM Holdings. ARM announced the deal with Silicon Valley chipmaker Broadcom on Tuesday night, unveiling a tie-up that will see Broadcom use ARM’s technology [...]
Bond and The Hobbit rescue Cineworld from Olympic blues January 8, 2013 A STELLAR lineup of film releases at the end of last year rescued film theatre chain Cineworld from a subdued summer, with cinema goers spending more than ever on tickets and popcorn, despite the draw of the Olympics. The company said yesterday that revenues across the group had risen by 2.4 per cent in 2012, despite [...]