PROPERTY NEWS July 22, 2010 SAVILLS’ PROPERTY AUCTION NEXT TUESDAY Bargain-hunting property investors rejoice. Next Tuesday sees Savills hold one of its residential auctions. There’s a tenanted three-bedroom flat in a portered block on Great Cumberland Place next to Marble Arch is starting at £380,000 and a derelict semi-detached house on the Chiswick High Road is also up for grabs, [...]
Goldman sees profits plunge July 20, 2010 GOLDMAN Sachs was yesterday accused of massaging its figures downwards to ease political pressure as it reported an 83 per cent collapse in second quarter net income. In what one observer described as a “well-orchestrated earnings announcement”, Goldman said net income for the three months to June came in at $453m (£297m), or 78 cents [...]
PROPERTY NEWS July 15, 2010 BISHOPS AVE SITE SOLD FOR £30M One of London’s best development opportunities in Hampstead’s Bishops Avenue has sold for more than £30m. The 2.47 acre site has two planning consents in place – either for a house of 33,000 sq ft or for a block of 16 luxury apartments. This indicates the competition and rising [...]
GOLDMAN’S KAFKA OFF TO GREENER PASTURES July 13, 2010 IT’S out of the revolving door for one of Goldman’s chief spinmeisters, Paul Kafka, who’s off to pastures new at rival UBS. I hear Kafka is now on gardening leave after almost four years as Goldman’s European head of corporate comms. He’ll be stepping up to the plate at UBS later in the year, as [...]
Red Knights may resurrect their £1bn bid for Manchester United July 11, 2010 THE group of wealthy City financiers hoping to wrest control of Manchester United appeared to resurrect their plan when they met with supporters’ groups over the weekend. The self-styled “Red Knights” looked to have cooled their interest after it became clear their valuation of the Old Trafford club did not match the owners’. But it [...]
Flying filly Fleeting Spirit to take July Cup for second year running July 8, 2010 THERE is an international flavour to today’s July Cup at Newmarket with speedsters from Australia, the US, France and Ireland taking on the home contingent. However, I think the prize will stay in Newmarket and Jeremy Noseda’s FLEETING SPIRIT can become the first horse since Right Boy in 1959 to win the race back-to-back. This [...]
Bonus rules risk European exodus July 7, 2010 BANKERS warned of a talent exodus from Europe yesterday after lawmakers in Strasbourg voted to enforce the world’s toughest regime on bonuses in the wake of the financial crisis. A ruckus is brewing between institutions, who view the crackdown as a short-term populist manoeuvre, and European politicians, who argue lenders were guilty of “obscene” risk [...]
ANALYST VIEWS: HOW BADLY WILL THE EU’S BONUS CRACKDOWN HURT THE REGION? July 7, 2010 ANGELA KNIGHT | BRITISH BANKERS’ ASSOCIATION Europe is now talking in a way which is not reflected by any other of the major financial centres. The question Europe has to ask is how is it going to keep talent and business when the other major financial centres and other G20 countries are not going in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2010 FINANCIAL TIMES GENERAL ELECTRIC CHIEF VENTS FRUSTRATION OVER CHINA The GE chief executive Jeff Immelt told Italian industrialists at a dinner on Wednesday that he was worried about the way Beijing was treating foreign companies. “I am not sure that in the end they want any of us to win or any of us to [...]
Q&A: BEHIND THE BONUS NOISE July 1, 2010 Q.how long has this been brewing for? A.The European Union’s strictures on bonuses are part of a wider directive demanding higher capital requirements from banks and a new attitude to risk-taking. Work began in earnest around a year ago, and MEPs have been explicit in linking the overhaul to the events of the financial crisis [...]