Oligarchs crush BP’s £10bn dream April 13, 2011 BP’S gamble on Russian oil seemed in tatters last night, paving the way for an explosive BP shareholder meeting today. BP had hoped to wow investors with the final version of its £10bn share swap with the government-run Rosneft at today’s meeting, after signing the deal in January. But Rosneft last night said it would [...]
In deep water: learning to dive off the coast of Malta April 10, 2011 AS I floated through the open hatchway into the ship’s galley, the scene appeared frozen in time. Seaweed waved gracefully about the cupboards and a spotted fish darted in and out of the abandoned cooker. A stream of bubbles poured from my dive buddy’s regulator as he laughingly grabbed the ship’s wheel and gave a [...]
Italy’s green heart lures clever buyers April 7, 2011 LIKE Nice, Cannes or St Tropez, it’s hard to find a slice of Tuscany that’s escaped the money and appetites of the international set. So for those craving a home in a still-authentic slice of Italy, with budgets below those of the global elite, Umbria is the smart choice. Paul Belcher, director of Ultissimo, a [...]
Monaco remains the most expensive city for top homes April 6, 2011 MONACO has kept its title as the world’s most expensive place to buy a high-end house, according to research out yesterday, though cities in Asia are quickly climbing up the leader board. For $1m (£612,442), a property investor can expect to buy just 15 square metres of luxury real estate in Monaco, according to Knight [...]
Banks launch SME lending campaign April 5, 2011 A task force of Britain’s major banks have launched a campaign to make lending to small and medium-sized businesses more transparent, the British Bankers Association said. Under the scheme, backed by the BBA, the banks will have to provide businesses with the result of a loan appeal within 30 days and information on alternative sources [...]
Desert dreaming: a second home in the sun March 31, 2011 BUSTLING markets, scorching heat, exotic dress and fantastic food. It is hard to believe that the almost otherworldliness of Marrakesh is just three and 35 minutes away from London. Charl Ackerman, a London-based property developer with Aylesford International, uses his home in Marrakesh like many do their country home: “I often fly out on weekends. [...]
CAMBRIDGE March 31, 2011 HIGH STREET, WEST WICKHAM Price: £460,000 This grade II listed thatched roof cottage is tucked away from main road and wrapped within beautiful gardens. There are three bedrooms and a bathroom upstairs. Downstairs there is a lobby, sitting room, dining room, farmhouse kitchen and bathroom. Contact: Tucker Gardner on 01223 708269 or go to www.tuckergardner.com [...]
GKN’s driver through the recession retires March 24, 2011 GKN’s chief executive Sir Kevin Smith is to retire at the end of the year, after safely steering the car parts-maker through an industry-wide crash. Sir Kevin, aged 56, led the firm through a massive cost-cutting drive in the wake of the recession, cutting nearly 6,000 jobs to stem annual losses that hit £130m in [...]
Budget Special March 23, 2011 THE CBI The UK’s top business lobbying organisation. It aims to influence government policy on a wide range of business matters. DIRECTOR GENERAL JOHN CRIDLAND “The chancellor has made clear the UK is open for business. The extra 1p cut in corporation tax will help firms increase investment. Meanwhile, significant changes to entrepreneurs’ taxation will [...]
City slams Budget’s bank levy rise March 23, 2011 The City has hit back at chancellor George Osborne’s Budget pledge to raise the bank levy to offset any gains by banks at lowering the corporation tax rate. In the Budget today he said he would reduce corporation tax by two per cent this year and one per cent in each of the following three [...]