London Report: Retailers set to reveal scale of 2013 hangover January 5, 2014 RETAIL figures due this week will reveal whether Britain’s major brands are going into the New Year with a Christmas hangover. Marks & Spencer and Tesco are both set to report on Thursday, and J Sainsbury on Wednesday, with figures likely to show retailers faced a dismal festive season. Debenhams has already set the tone, [...]
What the other papers say this morning – 20 December 2013 December 19, 2013 FINANCIAL TIME Taper pressures emerging markets Markets soured on the day after the US Federal Reserve’s dramatic tapering of its asset purchases from $85bn to $75bn per month as the dollar climbed and vulnerable emerging markets came under pressure. The taper heralded a new era of dollar strength, with the US currency up by 0.6 [...]
Lloyd’s insurer gets £600m Japanese offer December 16, 2013 ONE OF Lloyd’s of London’s biggest insurers is on the verge of being snapped up by a Japanese insurance giant, in a deal worth around £600m. Canopius Group, which is majority owned by UK private equity firm Bregal Capital, is in talks with Sompo Japan Insurance about the deal, which could be agreed as early [...]
Mayor of New York to set up city advice firm December 15, 2013 NEW YORK’S outgoing mayor, Michael Bloomberg, is setting up a consultancy business to advise other cities on development. Bloomberg, who will leave his mayoral post at the end of December after 12 years and three terms in charge, is taking a number of senior City Hall staff with him to launch the business, named Bloomberg [...]
City Moves for 13 December 2013 | Who’s switching jobs December 12, 2013 Quintant Partners The insurance and technology firm has hired Guy Shepherd as director for technology and solution design. He has over 20 years’ experience developing insurance technology solutions. Shepherd was formerly at PwC, where he was head of its insurance modelling practice. TSB The bank has announced the appointment of Susan Crichton as general counsel. [...]
RBS finance chief Bostock resigns after just 10 weeks on bank board December 10, 2013 THE FINANCE director of the Royal Bank of Scotland (RBS) is on his way out of the bank, barely two months after starting in the job. Nathan Bostock, who moved to RBS at the beginning of October, is set to quit his role and head to Santander. The RBS board confirmed last night that they [...]
High spending Brits boost Tui Travel’s profits December 10, 2013 TUI TRAVEL posted better than expected profits yesterday thanks to strong sales of more expensive holidays to British and German customers. The travel operator behind Thomson and First Choice holiday brands posted a 13 per cent rise in underlying operating profit to £555m for the year to 30 September driven by the growing popularity of [...]
What the other papers say this morning – 10 December 2013 December 9, 2013 FINANCIAL TIMES Home Secretary criticised for red tape Theresa May has been accused by cabinet colleagues of undermining the government’s pro-business agenda by refusing to cut red tape in the Home Office. The Home Secretary was sent a “scathing letter” late last month by Michael Fallon, the Conservative business minister, and Vince Cable, the Liberal [...]
Two heads for heights at Smith & Williamson December 8, 2013 The accountant and investment manager duo who are on the hunt for growth tell Marion Dakers about their long-term plans SMITH & Williamson (S&W) is keen to get away from its reputation as investment’s “best kept secret” – even if it’s a name the firm has used to describe its own services. From a quiet [...]
It’s time to break the Whitehall silo and put startup discipline into government December 3, 2013 THE CURSE of Norman Lamont makes politicians wary of mentioning the “green shoots” of recovery. But when the data show growth of 0.4 per cent, 0.7 per cent and 0.8 per cent in the first three quarters of 2013, it’s clear. The UK is off life support. Sure, the recovery is heavily consumption-led, with exports [...]