Barclays next to drop case May 8, 2011 BARCLAYS is to follow Lloyds in abandoning an industry-wide appeal against a high court ruling that will cost banks billions. The decision will leave other banks with little choice but to drop the case against the FSA on payment protection insurance (PPI). But City A.M. has learned that despite the likelihood of the banks giving [...]
Vincent Tchenguiz selling in St Tropez May 8, 2011 VINCENT Tchenguiz has put his luxury French villa on the market for €30m (£25m) – after spending one night there in five years of ownership. The elder brother of the Iranian-born business partnership has appointed the estate agents Knight Frank to sell the property, Villa Symphonie, in St Tropez A spokesman for Tchenguiz insisted he [...]
SIR HENRY COOPER: 1934-2011 May 2, 2011 BRITISH boxing great Sir Henry Cooper, or Our ‘Enry as he was affectionately known, would have turned 77 today. Following his passing on Sunday, we look back at the defining moments in the career of the Westminster-born heavyweight. His finest hour came in 1963 when he became the first man to knock down Muhammad Ali, [...]
OFFICE SPACE FALLS TO PRE-LEHMAN LEVELS April 26, 2011 AVAILABILITY of office space in central London has fallen to 16.7m square feet, its lowest level since September 2008, according to research by real estate and property service firm Knight Frank.” This is a a quarter-on-quarter fall of nine per cent and a fall of 18 per cent over the last 12 months, leaving a [...]
Knight Frank agents form firm April 18, 2011 Three former Knight Frank agents and an ex-surveyor for the property firm have set up their own company, Companies House documents show. Agents Nigel Gillingham, Tracey Pollard and Woody Bruce, alongside surveyor Rupert Bentley Smith, are listed as the sole directors of Bruce Gillingham Pollard. The agents left Knight Frank last month and have already [...]
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 [...]