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 [...]
Two years and counting July 27, 2010 FOUR-TIME Olympic champion Sir Chris Hoy began the two-year countdown for London 2012 yesterday and admitted: “I had goose bumps”. Sir Chris, 33, became the first person to cycle the Olympic Velodrome after riding mock-up circuits on a temporary track as part of a series of special events across the capital. At the same time, [...]
Cable targets bank bonuses and dividends in lending war July 26, 2010 VINCE Cable, the business secretary, yesterday stepped up his war of words against the banking industry, warning that dividends and bonuses could come under attack if banks don’t lend more to small businesses. Unveiling a green paper aimed at getting banks to fund a private sector-led recovery, Cable said: “There clearly is a choice between [...]
Red Knight’s bid for United may go ahead July 25, 2010 A BID to wrest control of Manchester United could be back on after a fans’ campaign against its American owners appears to have taken hold. The club was forced to humiliatingly offer a second batch of season tickets more than seven weeks after the initial deadline. Around 4,000 tickets were put on general sale by [...]
The father of the UK’s transport business sees recovery on the way July 25, 2010 Stagecoach’s chief executive Brian Souter has seen it all in the 30 years since he founded the bus and rail operator – but even he admits the industry is undergoing a difficult period. The transport sector, which is only just emerging from a painful recession, is about to face more pain. Chancellor George Osborne’s emergency [...]
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 [...]