Cheap doesn’t always mean bad but be prepared for a challenge October 29, 2012 bottleopener@cityam.com THE £5 bottle of wine has long been a staple in everyone’s shopping baskets but that’s changing. Today’s 20 per cent VAT and the general impact of inflation is quickly making it nothing more than a distant memory. With that in mind, accompanied by six City A.M. readers, I set on a quest to [...]
Focus On: Soho October 25, 2012 BEAK STREET, W1F Price: £3.99m This corner four-bedroom semi-detached house is located near Golden Square. It stretches six floors, has three kitchens and a basement, currently used as a bar, which can be put to other use. Contact Kinleigh Folkard & Hayward on www.kfh.co.uk or 020 3280 3541 HAT FACTORY AND BEAVER BUILDING, W1F Price: [...]
What the other papers say this morning October 24, 2012 FINANCIAL TIMES Walker plans Barclays clear-out Sir David Walker is planning a clean sweep of Barclays’ board after he formally becomes chairman of the scandal-tainted bank next week and will also oversee the replacement of some executive positions. The City grandee has been sounding out top figures over their suitability to join the bank in [...]
High-frequency trading does not boost volatility October 22, 2012 High-frequency trading (HFT) technology does not heighten market volatility or open the door to increased market abuse, according to a government report out today. The technique – which now accounts for a third of all UK equity trading – uses algorithms to make large numbers of trades and enables investors to profit from split-second moves [...]
Tech firms overtake financials in the City office rental market October 22, 2012 LANDLORDS in the Square Mile have seen a surge in demand from tech firms since the start of the year, with office take-up increasing by 39 per cent, according to estate agents Knight Frank. Technology, media and telecoms (TMT) firms acquired 931,000 square feet of offices in the first nine months of 2012, compared with [...]
A sunny day at Sunningdale October 18, 2012 WITH the sun shining so marvellously on Wednesday, what better day could have arisen to bunk off work, in order to dodge some bunkers, on the green fairways of Sunningdale golf club in Berkshire. City and celebrity players alike turned out in their plus fours for the 15th Tullow Oil charity golf day. Besides the [...]
BBA’s Browne set to face MPs October 11, 2012 THE NEW head of the British Bankers’ Association will tell MPs next week what the industry body thinks of new powers set to be handed to the Bank of England. A new committee within the Bank could soon be able to impose capital rules for lenders and set charges to dampen lending in overheated parts [...]
LVMH boss Arnault to be knighted October 7, 2012 The chief executive of French luxury group LVMH, Bernard Arnault, is set to be knighted in London for his contributions to the British luxury industry, a company spokesman said yesterday. Arnault will become a Knight Commander of the Most Excellent Order of the British Empire, the spokesman said. The distinction is to recognise Arnault’s contributions [...]
Ofgem warns of electricity shortfall October 5, 2012 Britain risks running out of energy generating capacity in the next three to four years, according to a report by energy regulator Ofgem published today. Ofgem said the amount of spare generation capacity could fall from 14 per cent to only four per cent by 2015, largely due to tough environmental targets and the closure [...]
New terms for Glencore-Xstrata deliver new problems October 1, 2012 ANOTHER day, another twist in Glencore-Xstrata’s epic drama. It seemed for a few hours that Xstrata’s board might have done the trick, recommending the bid with a new share multiple and terms that include allowing shareholders the option of rejecting the planned £144m retention awards for senior Xstrata managers. Then Knight Vinke Asset Management, which [...]