PROPERTY NEWS August 12, 2010 SOLD! THE UK’S MOST EXPENSIVE HOME A penthouse in One Hyde Park, the lavish development in Knightsbridge, has entered the record books as the most expensive residential property in Britain – and, according to some estimates, the world – having been sold for £140m. The six bedroom apartment is spread over two floors with bullet [...]
EU plans to levy direct tax on UK August 9, 2010 EUROPEAN bureaucrats are preparing plans for an EU-wide levy on financial transactions, domestic aviation and carbon dioxide emissions, putting them on a collision course with the British government. The European Commission wants to impose a series of pan-European taxes to fund its €140bn (£116bn) annual budget, allowing cash-strapped member states to reduce the amount of [...]
BANKS TO FIGHT LENDING CRITICS August 8, 2010 BANKS are clubbing together in a bid to end claims they are starving small businesses of credit. The banking taskforce comprises chief executives from the major UK financial institutions and the British Bankers’ Association (BBA). The BBA has drafted a letter to chancellor George Osborne setting out a raft of proposals it says will ensure [...]
Bankers: further pay curbs will cripple the City August 8, 2010 BANKERS are warning politicians and regulators they risk an exodus of talent from London if they put further curbs on pay in response to rising bonus levels. New ONS figures show financial sector bonuses in the five-month period between December and April in the last financial year were £10bn, up from £8bn in 2008. The [...]
PROPERTY NEWS August 5, 2010 £50M TO FUND AFFORDABLE HOUSING The Mayor of London and London Homes and Communities Agency (HCA) have approved the funding for 16 schemes aimed at providing 518 affordable homes. The schemes’ future was uncertain after the election but have now received a guarantee of a £50m cash injection. Nine new-build projects that will receive some [...]
The star power of Cruise and Diaz can’t save this action flop August 5, 2010 Film review Knight and Day Cert: 12A Rhys Griffiths THIS action-comedy proves that no amount of star power can make up for a lazy script, lazier direction, a total lack of depth and a seriously bad pun of a title. Centered around the whereabouts of the enigmatic “Zephyr”, a top-secret battery gizmo with perpetual power, [...]
Dramatic recovery for Britain’s banks August 1, 2010 BANKS will come under renewed pressure to extend credit to small businesses this week as the UK’s five largest lenders reveal combined pre-tax profits of nearly £12bn. With the stronger players returning to pre-financial crisis levels of success, a fresh row is brewing between politicians – who are demanding more finance for enterprises – and [...]
FSA pay rules to hurt thousands July 29, 2010 LONDON and Europe will lose out to other financial centres if tough rules on pay are rushed in, City figures warned as the UK watchdog revealed plans to curb bonuses yesterday. Fears were stoked after the Financial Services Authority (FSA) said it would update its remuneration code to match harsh measures put forward by the [...]
Illustrious victory for Knight July 29, 2010 RACING: William Knight-trained Illustrious Blue was the big winner on day three of Glorious Goodwood after winning the Artemis Goodwood Cup. The 8-1 shot, ridden by Jim Crowley, beat off Electrolyser (33-1), Purple Moon (13-2) and odds-on favourite Age of Aquarius into the places. Meanwhile, Kieren Fallon led veteran Borderlescott (9-2fav) to a half-a-length victory [...]
Grape escapes: make the vineyard dream come true July 29, 2010 I’D guess that at some point in your career in the City you’ve sat back and daydreamed about a life outdoors, working the land, relaxing at sunset on a terrace overlooking your vines and sipping the product of your labour. Vineyard properties are among the most magical, particularly those in the well-known grape regions of [...]