Tesco names incoming UK team January 6, 2011 RETAIL giant Tesco yesterday named the eight-man team to lead its UK operation from March, reporting to new UK chief executive, Richard Brasher. Noel Robbins becomes chief operating officer, alongside new commercial directors Per Bank, and Laura Wade-Gery. Kevin Grace becomes property director; David North will become corporate affairs director and Judith Nelson personnel director. [...]
Citigroup wins $18m raid lawsuit brought by Oppenheimer January 5, 2011 US BROKERAGE Oppenheimer & Co has lost its eight-year battle to force Citigroup to pay over $18m (£11.6m) for luring away nine of its top financial advisers. A Financial Industry Regulatory Authority panel rejected claims from Oppenheimer that Citigroup conducted an unlawful “raid” on its brokerage business shortly after it was sold to New York-based [...]
Lib Dems gear up for a bumpy ride with Cable on the ropes December 21, 2010 EVEN as the story of business secretary Vince Cable’s indiscretions broke late on Monday, campaigners linked with the the office of Liberal Democrat deputy leader Simon Hughes were frantically sending out press releases. Surely an example of an impressive scale-up of the famously scatty Lib Dem media operation? Er, not quite. “Don’t use King’s Stairs [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
UK public borrowing hits record high December 21, 2010 UK public sector net borrowing unexpectedly surged in November to the highest level ever recorded, official figures have shown. The Office for National Statistics said public sector net borrowing, which smoothes some of the monthly volatility in government revenue and spending, came in at a record £22.77bn in November – up from £16.72bn a year [...]
The UK’s largest housebuilder says the road to recovery will be long December 19, 2010 PERSIMMON chief executive Mike Farley is not looking for a magic bullet. The boss of the country’s largest housebuilder is clear that the sector has endured its worst slump since World War Two and faces at least a two-year road to recovery. The industry tends to listen when Farley speaks. Not just because he runs [...]
Three ways to save your pennies overseas December 16, 2010 IF THE estimates of the Association of British Travel Agents (Abta) are to be believed, nearly 4m of us will be heading abroad over Christmas. But whether you’re escaping to sunnier climes or hitting the slopes, here are three tips to help you avoid parting with your cash. 1 BEST CREDIT CARD TO TAKE ABROAD [...]
DTZ narrows losses to £6m December 15, 2010 REAL estate consultant DTZ said yesterday its first half loss narrowed on a strong performance in Asia, as it retained a cautious outlook due to market uncertainty in the UK and Europe. The company yesterday posted a pre-tax loss of £6m for the six months to 31 October, compared to a loss of £20.6m in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2010 FINANCIAL TIMES US REGULATOR WIDENS STANFORD PROBE TO BROKERS US securities regulators have broadened their investigation into the alleged $8bn Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products. JPMORGAN CUTS BACK ON US SILVER FUTURES JPMorgan has quietly reduced a [...]
FIT IN THE CITY December 13, 2010 FITNESS & DIET EXPERT 1. CHOOSE YOUR POISON WISELY: UNLESS YOU WANT AN OVERHANG like Johnny Vegas, go easy on the beer. An eight pint binge means you’re taking in a whopping 1,600 empty calories – that’s the calorie-equivalent of a very large takeaway. Spirits with diet drinks and champagne make for better waistline choices. [...]