Knight urges caution over bank reforms June 29, 2009 FORCING large banks to shrink would damage the UK economy, the chief executive of the British Bankers’ Association (BBA) Angela Knight warned yesterday. Speaking to City A.M. ahead of today’s annual BBA international banking conference, Knight said the BBA would not support any move to scale down large banks and urged governments not to rush [...]
City’s Goldfinger vaults for sale June 28, 2009 The former City headquarters of Midland bank, whose vaults featured in the 1964 James Bond film Goldfinger, has been put up for sale by administrators. This comes just two-and-a-half years after it was bought by former Russian deputy finance minister Vladimir Chernukhin, who acquired the listed plot, next to the Bank of England, for £72m. [...]
Regeneration is taking off in the Olympic quarters June 25, 2009 STRATFORD has long been one of those London areas that is supposedly on the verge of gentrification. The coming of the DLR, then the Jubilee Line, were meant to turn it into an up-and-coming area attractive to thrusting young professionals. It never quite happened. But last week, two things took place which mean that Stratford [...]
As well as tennis, Wimbledon has south London’s most lavish home June 25, 2009 WHILE most of what’s said about SW19 involves tennis, and occasionally Wombles, there’s much to be said for Wimbledon as a place to live. As befits the home of the All England Tennis Club, it’sthe very height of leafy southwest London – genteel, classy and far enough from the centre of town to feel you’ve [...]
LDV in administration as all staff made redundant June 8, 2009 AILING van maker LDV yesterday laid off all its workers after it was put into administration. LDV, which is owned by Oleg Deripaska’s GAZ, employed 850 people directly and thousands more in dealerships and supply chains. PricewaterhouseCoopers (PwC) will now take over the running of the firm. “There is still the opportunity of a bright [...]
Magna takeover of GM to complete by September June 3, 2009 MAGNA INTERNATIONAL looks set to close its takeover of GM Europe by September, it said yesterday, as the white knight clarifies the details of its takeover. Magna agreed to buy the European arm of bankrupt car firm General Motors (GM) at the weekend, as its US parent filed for Chapter 11. The Canadian carparts maker [...]
LDV back in administration as white knight Weststar decides to turn tail June 2, 2009 VANMAKER LDV, backed by Russian oligarch Oleg Deripaska, is back in administration, after white knight Weststar rode out of town yesterday. The Malaysian company agreed last month to buy LDV, which employs 850 people in the UK, after it halted production due to a collapse in demand for vehicles. Weststar was the only bidder to [...]
PINEWOOD TAKES ON HOLLYWOOD June 1, 2009 PINEWOOD Studios, where the Dark Knight and Quantum of Solace films were made, yesterday submitted its final planning application to double in size, in a bid to rival Hollywood and cheaper rivals elsewhere. It plans to invest £200m to develop permanent state of the art film facilities – including a Parisian square and a Venice [...]
Life is returning to the Docklands property market May 28, 2009 Nowhere gratifies the spirit of the property doom-mongerers like Docklands – loaded as it is with architectural emblems of the boom years; a development graveyard of flats left empty as banks fell and buyers took fright. In other words, a homebuyers’ nightmare. This, however, is proving an unfairly dim view to take. Charlie Fisher, sales [...]
Brewin still upbeat after profit dive May 28, 2009 STOCKBROKER and investment manager Brewin Dolphin yesterday struck a positive chord for the sector as it declared markets were over the worst of the economic turbulence, despite posting a 38 per cent fall in interim pre-tax profits. Brewin Dolphin said pre-tax profit for the six months to the end of March fell to £13.6m after [...]