CITY MOVES | WHO’S SWITCHING JOBS April 12, 2010 Shepherd and Wedderburn The law firm has elected James Will, the head of its corporate practice, to the position of chairman after over 20 years as a partner at the firm. Corporate partner Andrew Blain takes over as head of corporate, while Guy Winter has been promoted to partner in the same division. Winter joined [...]
UK Reader’s Digest saved by £13m bid April 11, 2010 BETTER Capital, Jon Moulton’s new turnaround private equity group, has saved Reader’s Digest magazine with an eleventh hour white knight bid. The UK arm of the 87-year-old publisher filed for administration in February, two weeks after the Pensions Regulator rejected a plan to plug the £125m hole in its savings fund. Better Capital said the [...]
Live in a Cold War bunker – the ideal home for a nuclear family with style April 8, 2010 JUST imagine the dinner party possibilities of living in an unusual house. No matter what other people tell you about their wonderful new stables or their eco-conversion, revealing that you live in a converted Cold War military base is sure to stop people in their tracks. Two of the most desirable properties currently on the [...]
City slams Europe bank tax April 7, 2010 THE City hit out at plans to introduce a Europe-wide banking levy yesterday after reports the European Union is prepared to go it alone if it does not achieve an international consensus. A European Union report suggested a levy could raise €50bn (£43bn) a year. The money could either be saved to ward against future [...]
CITY MOVES | WHO’S SWITCHING JOBS April 7, 2010 Nomura The Japanese investment bank has appointed Mikael Dahl as co-head of its Nordic investment banking team, based in London. Dahl was previously a partner at EQT Partners and brings with him over 20 years of investment banking experience. He previously worked at Citigroup/Salomon Brothers from 1994 to 2008, latterly as European co-head of the [...]
Kraft slammed over Cadbury April 5, 2010 THE Business Select committee will today question whether UK takeover laws should be tightened in the light of Kraft’s acquisition of Cadbury. It is expected to criticise the power short-term stakeholders, including hedge funds, can wield over a company’s future. Committee chairman Peter Luff told City A.M.: “I think we need to look seriously at future [...]
Tesco reveals banking target April 5, 2010 TESCO announced over the weekednd its ambitions to create a full service retail bank as part of plans to make up 10 per cent of the UK’s financial services market within the next ten years. The supermarket’s credit card and motor insurance businesses already makes up 10 and 4 per cent of their respective markets [...]
Cricket mourns the death of legend Sir Alec Bedser April 5, 2010 TRIBUTES flooded in yesterday for Surrey and England bowling legend Sir Alec Bedser, who died after a short illness on Sunday night at the age of 91. Bedser took 236 wickets in 51 Tests over 10 years before spending a record 23 years as an England selector. Having led Surrey to eight County Championships as [...]
City: MPs’ call for reform to banks is behind curve March 29, 2010 THE City accused politicians of remaining stuck in the “hysterical” phase of reaction to the financial crisis yesterday after MPs called for radical reform of the banking system. The Treasury Select Committee urged the government not to rule out breaking up systemically important banks, arguing the debate should be kept “as wide as possible” to protect [...]
Platini welcomes Labour plans to boost fan power March 29, 2010 EUROPEAN chief Michel Platini has thrown his support behind Labour proposals to give fans greater rights to own stakes in their clubs. Under plans set be included in the government’s manifesto for this year’s election, clubs could be forced to hand up to 25 per cent of shares to supporters. Fans would be given first [...]