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 [...]
Changing times: moving on from Mayfair March 17, 2011 PRICES of the Monopoly board favourite Mayfair, as well as other prime favourites, have rocketed to near 2007 levels (see graph below), leading to the emergence of alternative investment hotspots. Marylebone is being hailed as the new Mayfair, with residential favourites Pimlico, Hampstead and Fulham hot on its heels. Mayfair prices have been drastically pushed [...]
Middle East buyers to lift office gloom March 16, 2011 OFFICE investment in London fell markedly in the first three months of the year, though higher oil prices are expected to drive more sovereign wealth funds into real estate in the capital, according to Knight Frank research seen by City A.M. Office properties worth £1.6bn are due to change hands in the three months to [...]
Big Zeb to land another Champion for Murphy March 15, 2011 THERE is no better sight in racing than the best two mile chasers in the world running at full pelt around the unique contours of Prestbury Park. The sportingbet.com Queen Mother Champion Chase is a truly mouthwatering contest and many punters will be hoping Master Minded can replicate his astonishing performance in 2008. Then a [...]
Bonus row reignited as Barclays publishes pay March 7, 2011 BARCLAYS has revealed that it awarded its top five non-board executives total pay of £28m last year, with the heads of its investment bank Barclays Capital Jerry del Missier and Rich Ricci pocketing over £10m each. The bank also confirmed it will pay current chief executive Bob Diamond £6.5m in an all-share bonus in addition [...]
Industry dismayed by Mervyn King as Bank eyes new powers March 6, 2011 THE banking community has reacted with “dismay” to comments by Bank of England governor Mervyn King that the industry exploits gullible borrowers and has failed to learn the lessons of the credit crisis. “Mervyn King’s comments are extremely unhelpful,” a senior banker told City A.M. “The reaction of the business community is dismay. I don’t know [...]