CONFUSION MOUNTS OVER BANK BONUSES SUPER-TAX December 14, 2009 THE GOVERNMENT is today set to bow to City fury by issuing a clarification on its super-tax on bank bonuses, after being swamped by a deluge of queries from firms unsure if they will be hit by the damaging levy. Confusion in the UK’s financial hub has been rising daily since last Wednesday’s pre-Budget Report, [...]
Brits are hungry again for a place in the sun December 3, 2009 MEET an overseas property agent these days and they’ll be chirpy, well slept and optimistic about the future – the exact opposite of how they would have been at the beginning of the year. The reason? After 18 months of its having no appeal whatsoever, the British love affair with buying a place in the [...]
Buy-to-let is back as rents stabilise and low prices attract landlords December 3, 2009 BUY-TO-LET is starting to look like an attractive proposition once again, as lower house prices and a stabilising rental market result in more enticing yields. Data from LSL Property Services – the company that owns Your Move and Reeds Rains estate agencies – shows that annual returns on landlords’ investments have turned positive for the [...]
Because you’re worth it: the best bachelor pads in town December 3, 2009 ATROPHY apartment is the ultimate reward for spending your 20s chained to a desk. And in case you hadn’t noticed, tastes for this type of flat, and the facilities found within it, are changing. Overt ostentation, 1980s-style, is out – so swimming pools with your monogrammed initials at the bottom are a no-no – to [...]
Irish raider Big Zeb to stay upright and land Sandown’s Tingle Creek December 3, 2009 I’M NOT SURE how much more rain Sandown Park will be able to take ahead of tomorrow’s Tingle Creek meeting, so keep a close eye on the weather. However, if the forecast biblical storms do stay away, then Irish raider BIG ZEB looks the pick in the feature contest. Colm Murphy’s dual Grade One winner [...]
NEW EU REGULATORS GIVEN HUGE POWERS December 2, 2009 BRUSSELS grabbed huge new powers over the financial services industry yesterday amid growing fears that excessive red tape is destroying the City of London’s competitiveness. European finance ministers agreed a sweeping new regulatory framework that will see the EU take centre stage in the supervision of banks, markets and insurance companies. Ministers agreed to the [...]
GM BOSS IS OUSTED AFTER JUST EIGHT MONTHS IN JOB December 1, 2009 GENERAL MOTORS, the ailing car giant that recently emerged from the biggest bankruptcy in US history, last night ousted its chief executive Fritz Henderson after just eight months in the top role. Henderson, a GM veteran who has been with the car firm since 1984, was appointed as chief executive at the end of March [...]
CHAIRMEN FACING ANNUAL ELECTION November 30, 2009 COMPANY chairmen could face annual re-election under wide-ranging new proposals on corporate governance published today. The consultation by the Financial Reporting Council (FRC), chaired by Sir Christopher Hogg, also suggested external assessments of boards’ performance every three years. The guidelines are the latest attempt to reform the Combined Code and overhaul boardroom accountability in the [...]
France goads Britain over EU jobs win November 29, 2009 FRENCH president Nicolas Sarkozy fired a salvo at the City of London yesterday, describing Britain as the “big losers” in the appointment of Frenchman Michel Barnier to the EU’s finance brief. Sarkozy’s remarks, which were instantly condemned by City figures, underline the difficulties London can expect in dealing with Barnier. France is seen as favouring [...]
Plush London homes rise in price as City money returns November 29, 2009 The CITY’S bankers are beginning to splash out again on prime property, according to the latest survey by estate agent Knight Frank, which reported that prices rose in November by 1.2 per cent. The lift means prime property homes – situated in the desirable postcodes of Mayfair, St Johns Wood and Kensington and over the [...]