PotashCorp mulls Chinese consortium bid to rival BHP September 16, 2010 CANADA’S PotashCorp has approached a number of parties in China over putting together a consortium to counter miner BHP Billiton’s $39bn (£25bn) hostile takeover bid. PotashCorp, which has made no secret of its attempts to woo white knight bidders since it rejected BHP’s approach last month, is understood to have considered combining a large capital [...]
Business plans need to measure up too September 16, 2010 DESIGN entrepreneurs have come from across the globe to London Fashion Week, starting today, to show off their creations. The industry oozes exclusivity, appearing the preserve of the wealthy and connected. It begs the question of how difficult it is for somebody to set up and grow a business in this world. Do creative geniuses [...]
BUYING September 16, 2010 MANAGING PARTNER AT BLACK BRICK Q.Dear Camilla, there has been a fair amount of negative news in the papers relating to property prices. Do you think prices are going to crash again like they did in 2008? A.With so much conflicting data and house price indices, trying to determine what is happening with house prices [...]
CITY MOVES | WHO’S SWITCHING JOBS September 14, 2010 JP Morgan Asset Management The bank’s asset management arm has poached Nick Gartside from Schroders to join as international chief investment officer of fixed income, effective from December. Gartside joined Schroders in 2002 and was most recently the firm’s head of global fixed income. His responsibilities on Schroders’ ISF strategic bond, ISF global bond and [...]
Relief for banks sees global rally September 13, 2010 BANKING shares on both sides of the Atlantic surged yesterday in response to the Basel III rules, which were less stringent than many institutions had feared. The FTSE 100 index soared 1.3 per cent to 5,565.53 – its highest close in four months – aided by a surge in banking shares which rose between 1.4 [...]
Jim O’Neill to take new role at Goldman September 12, 2010 JIM O’Neill, chief economist at Goldman Sachs, has been appointed to the newly created role of chairman of the bank’s asset management division, the bank announced this weekend. O’Neill will advise clients on investment strategies but will also continue to comment on key economic issues. His appointment is subject to regulatory approval from the Financial [...]
A spa in the home is the ultimate in luxury city living September 9, 2010 IN the past a health club was where you went to get pampered, a spa was a resort with natural springs and “wellness” was a hippy concept. Now that we’re both more health-conscious and luxe-conscious, however, spa facilities – meaning pools, treatment rooms, gyms, saunas, steam rooms and more – are a part of people’s [...]
Dana battles to stop £1.9bn offer by KNOC September 8, 2010 DANA PETROLEUM is braced for a £1.9bn hostile takeover by Korean National Oil Corps after investors dismissed an ambitious defence document demanding a higher price. Shares in Dana closed almost flat at £18.09, just above the level of state-owned KNOC’s £18 per share offer, indicating shareholders were unmoved by the argument. The board of the [...]
Decanting: how to breathe life into your wine September 8, 2010 THE main thing about decanters is that they look nice – and make you look like you know about wine. At least, that’s what I thought until the folks from Riedel turned up at the City A.M. offices to demonstrate the worth of their wares. Twenty minutes after they entered bearing fine glassware, I had [...]
Barclays’ Agius to take helm at BBA September 7, 2010 BARCLAYS chairman Marcus Agius yesterday announced he would step up to chair the British Bankers’ Association after HSBC chairman Stephen Green resigned to take up a new appointment as UK minister for trade and investment. Agius, a former Lazard investment banker, has chaired Barclays since the beginning of 2007. He has maintained a lower profile [...]