City Moves for 22 September 2014 | Who’s switching jobs September 21, 2014 Altium The mid market financial advisory group has announced two appointments to its UK debt advisory practice. Simon Chambers (pictured) and Richard Clark both join as managing directors from DC Advisory. Clark has also held roles at Close Brothers, Houlihan Lokey and JP Morgan. Chambers has previously worked at Barclays, and also as an engineer [...]
London Report: German finance figures to come under spotlight September 21, 2014 THE FLOW of macroeconomic data will slowdown significantly over the coming week, with the key risk events moving towards the Eurozone. In particular, investors will be watching out for the latest manufacturing sector purchasing managers’ indices from the euro area. Economists at Credit Suisse indicated that a half-point increase in the PMI would be consistent [...]
Marketing to millennials: Is Generation Y really all that different? September 21, 2014 Talking to advertising and media executives these days, you’d be forgiven for thinking that there’s an alien group lurking among UK consumers. Millennials, we are told, are different. Born between 1980 and 1995, they split their summers between south-east Asia and Bestival, often sporting torn jeans, face paint and/or a pair of Google Glasses. When [...]
Arsenal aim for “pinnacle of the game” after revealing profits drop but turnover increase September 21, 2014 Arsenal Football Club has released its latest financial figures, revealing that the north London club's profit before tax for the year ended May 31, 2014 has dropped by £2m, from £6.7m a year ago to £4.7m now. However, the club's group turnover has increased from £280.4m to £301.9m, with football-related turnover up to £298.7m [...]
Hedge fund Elliott Advisors earns £59m after selling down stake in Game Digital September 18, 2014 GAME Digital’s US hedge fund owner Elliott Advisors has pocketed £58.5m after selling a chunk of its stake in the video games retailer, dragging shares down yesterday. Liberum Capital revealed yesterday it had sold 22.5m shares held behalf of Elliott Advisors through a Luxembourg-registered investment vehicle, Duodi. The tranche of shares, which was sold through [...]
London rent prices hit record high as new mortgage loans keep climbing September 18, 2014 London rents hit a record high of £1,161 on average last month, according to figures out today from LSL Property Services. Monthly rents in the capital climbed three per cent on the year – an increase which was ahead of wages, intensifying the pressure on tenants. Across England and Wales, the average rent increased by 2.4 [...]
London’s tech boom is more than just hype – and the City is at its heart September 18, 2014 WHILE London Technology Week may not yet rival London Fashion Week for glamour, there is real substance to the capital’s tech boom. This is why, for the first time, TechCrunch is bringing its Silicon Valley conference to London this October. A number of things are driving this tech boom. London has long acted as a [...]
Is News Corp right that Google’s internet dominance is damaging? September 18, 2014 Carl Miller, research director at the Centre for the Analysis of Social Media at Demos, says Yes. Google: Gmail, Chrome, Google+, Search, all free. It gives us a suite of brilliantly useful products that almost all of us use daily. What’s not to like? That’s the problem. Day-to-day, everything is convenient and free. We treat [...]
News Corp chief Robert Thompson calls Google a “platform for piracy” run by “cynical management” in letter to EU commissioner Joaquin Almunia September 18, 2014 News Corp has told the EU it believes Google is stifling competition and undermining the business model of “content creators” in its dominance of internet search. The Rupert Murdoch-owned company, which publishes the the Times, the Sun, the Wall Street Journal and book publisher Harpercollins lambasted Google in a letter to the EU’s competition commission [...]
Central London completions to hit 10,000 next year, says JLL September 17, 2014 HOUSING completions in central London could reach 10,000 in 2015 for the first time in years thanks to a surge in construction activity, even as new housing starts and prices at the centre of the capital start to slow. According to a report released today by property firm JLL, there are now 21,900 units under [...]