Post Office to offer mortgages across its local branch network August 9, 2012 POST Office customers will be able to pick up a mortgage alongside their book of stamps, under a pilot scheme launched yesterday. Trained mortgage advisers are now available in five of the organisation’s outlets – Birmingham, Solihull, Walsall, Luton and Norwich – to offer free consultations as part of the firm’s push to become one [...]
PROFILE: THE MAN THEY’RE CALLING THE NEW ELIOT SPITZER August 7, 2012 BENJAMIN Lawsky is no stranger to politics, serving as chief of staff to New York’s governor Andrew Cuomo before taking the top job at the state’s newly formed Department of Financial Services last October. His activity since has led to whispers that he may have an eye on higher office. The 42-year-old took has gone [...]
As Louise Mensch steps down from politics, should we regret the loss of maverick MPs? August 6, 2012 YES Dylan Sharpe In a recent poll of the least trusted professions, politicians pipped bankers and journalists to an unwelcome top spot. It reflected the sad truth that many constituents have stopped listening to their MPs, expecting to hear platitudes and meaningless promises. That accusation is often unfair, but when few politicians are willing to [...]
The technology paradox: It will kill jobs but rescue Britain’s economy August 5, 2012 THE LATEST GDP numbers were awful. The UK economy shrank by 0.7 per cent. But rather than embarking on political blame-games, we must face a stark fact: the economy needs a clean-out. All the fiscal and monetary levers have been pulled, and they haven’t worked. A much bigger story is at play – digital technology [...]
EDF to open up UK nuclear projects for partners July 31, 2012 French state-controlled utility EDF is considering looking for more partners for its nuclear projects in Britain to help it share costs and limit its debt burden, its chief financial officer said on Thursday. EDF, along with junior partner Centrica, plans to build four new 1,600-megawatt European pressurised water reactors as Britain looks to reform its [...]
Power station at Battersea in £8bn revamp July 25, 2012 THE GOVERMENT today announced plans for the £8bn redevelopment of Battersea Power Station by its new Malaysian owners, with the revamp due to kick-off as early as next year. Europe’s largest brick building, which has seen a string of developers try and fail to revive it over the past two decades, was recently rescued from [...]
West End gives Great Portland quarterly boost July 24, 2012 GREAT Portland Estates yesterday posted a buoyant set of quarter results, boosted by its prized West End offices and pipeline of upcoming developments. The firm said the value of its portfolio rose by 3.1 per cent to £2.1bn in the quarter to 30 June, while net asset value lifted 3.5 per cent to 417p. The [...]
Saracens and Allianz in £9m stadium deal July 23, 2012 SARACENS will today announce a groundbreaking £9m sponsorship deal with Allianz that will see the insurance giant take naming rights for the rugby club’s new home in north London. The 10,000-seater multi-use stadium at Barnet Copthall is due to open its gates in February and will be known as Allianz Park following the agreement of [...]
LONDON REPORT July 22, 2012 A SERIES of heavyweight corporate results and significant economic data releases await markets this week, culminating with the limelight being poured upon controversy-struck Barclays once again. Barclays will release interim results for its second quarter on Friday, with the ongoing Libor scandal likely to overshadow the banks’ forecasted profits. Fellow British lender Lloyds will itself [...]
FTSE edges down as UK borrowing rises July 20, 2012 Telecoms giant Vodafone pushed the FTSE 100 lower while UK government borrowing came in above estimates this morning. The Office for National Statistics said that public sector net borrowing excluding financial sector interventions rose last month to £14.4bn from £13.9bn in June 2011. On London’s blue chip index Vodafone fell 1.3 per cent after the [...]