HOW WOULD WALKER’S PROPOSALS AFFECT YOUR SECTOR? July 16, 2009 ANGELA KNIGHT BRITISH BANKERS’ ASSOCIATIONThese recommendations stem from the actions that a number of banks and other financial institutions have already put in place. These proposals would effectively bring all firms’ governance up to the standards of the best and are therefore to be welcomed.PETER MONTAGNON ABI (INSURANCE)This is a valuable contribution to the debate [...]
Falling Mayfair prices attracting students and the fashionable set July 9, 2009 LONDON’S playground of the super-rich has always been a place that ordinary mortals – even high-earning ones – would rarely consider within their reach. But times have changed, and with them, Mayfair’s rental prices, which have dropped 15-20 per cent since their peak in 2007. Charity Delves, lettings manager at Mayfair estate agent Wetherell, says: [...]
Credit Suisse u-turn boosts Four Seasons July 9, 2009 FOUR Seasons, the care home company, last night came back from the brink after convincing its senior lenders to back its latest restructuring proposal. The group is currently struggling with its £1.5bn debt pile and has proposed a restructuring plan that would have seen most of its lenders’ debt converted to equity. And earlier this [...]
WHAT DO YOU MAKE OF ALISTAIR DARLING’S WHITE PAPER? July 8, 2009 RICHARD LAMBERT DIRECTOR-GENERAL, CBI“We recognise the case for new regulations to ensure that financial crises of the kind we have experienced are not repeated. We do not see the advantage of pre-funding the already successful Financial Services Compensation Scheme. There is also a risk of over-regulating financial product design.” ANGELA KNIGHT CHIEF EXECUTIVE, BBA“Much of [...]
JJB pledges support for Jones in spat July 7, 2009 AILING sportswear retailer JJB Sports yesterday backed its executive chairman Sir David Jones amid a growing storm over a £1.5m loan he received from Mike Ashley, chief executive of arch-rival Sports Direct. JJB Sports said that the board had given its “unanimous support” to Jones and said it believes “that he is the right person [...]
The property boss who can see the light at the end of the tunnel July 5, 2009 The airy offices of Knight Frank chairman Nick Thomlinson are as good a place as any to survey the wreckage of the property market over the last two years. So it can only be good news that the head of the UK’s largest privately-owned property business shows no sign of panic as he holds court [...]
Rural homes near London see price rise July 5, 2009 PRIME country properties around London saw prices rising by 0.7 per cent in the second quarter of 2009 after five consecutive quarters of falls, according to the Knight Frank/ City A.M. prime commuter property price index. For the UK as a whole, the average value of prime country property fell by 0.9 per cent over [...]
Carpathian restructuring deal gets the green light July 2, 2009 PROPERTY investor Carpathian said yesterday it has successfully completed a debt restructuring of €235m (£203m) with German lender Hypo Real Estate. The transaction represents about 56 per cent of the total debt of £417.1m within the group as at 31 December 2008, the company said, stabilising the majority of its portfolio, which was previously under [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2009 FINANCIAL TIMES SCRAPPAGE INCENTIVES REVIVE CAR DEMAND Car sales rose in several big European and Asian markets last month, lifted largely by government scrapping incentives aimed at reviving consumer demand. The numbers give weight to the notion that stimulus measures are pulling the global motor industry out of its deep downturn, but carmakers and industry [...]
PwC: Six companies eyeing LDV June 30, 2009 Administrators for van maker LDV said yesterday at least six companies are still considering investing in the company. PricewaterhouseCoopers said an announcement was likely at the end of July over the future of the firm and what suppliers would receive. LDV went into administration last month after white knights WestStar pulled out, saying they couldn’t [...]