PIMCO’S GROSS ISSUES WARNING OVER A BRAZEN PONZI SCHEME: QE October 27, 2010 PIMCO’S resident bond expert Bill Gross yesterday, in his usual verbose fashion, issued a stark warning over the upcoming second round of quantitative easing (QE) in the US – dubbing it no less than a “Ponzi scheme” on the part of the Federal Reserve. “Check [sic] writing in the trillions is not a bondholder’s friend; [...]
While you’re in the City soak up the atmosphere and the history October 27, 2010 FOR centuries St Paul’s, and not the Stock Exchange, was where the City’s activity and bustle reached its highest pitch. A seventeenth century writer wrote of it that “the noyse in it is like that of Bees, a strange humming or buzze, mixt of walking, tongues and feet: It is a kind of still roar [...]
The City must have a competitive tax regime October 24, 2010 At a time when many western economies are experiencing sluggish growth and painful fiscal readjustment, it is more important than ever that the UK strengthens ties with high growth markets to sustain and indeed accelerate our recovery. So as I prepare to lead a business delegation to India next week, fresh from visiting Latin America [...]
Miners get City Freedom October 17, 2010 CHILEAN president Sebastian Pinera and the 33 miners rescued last week after over two months trapped underground in a collapsed mine are set to be awarded the Freedom of the City of London. Pinera will today attend a lunch at the Mansion House hosted by Lloyd’s of London chairman Lord Levene, standing in for absent [...]
The City is a vital component in UK prosperity October 10, 2010 Now that we have reached the end of the 2010 Party Conference season, it is perhaps time to take a step back and reflect on some of the rhetoric directed at the City in a calm, rational manner. The hostile political environment facing financial services is – to a degree – understandable given the public [...]
ENLARGED RETURNS TO GREET M&S SHOPPERS October 4, 2010 FINALLY – the working man’s answer to the wonderbra has arrived: M&S has just unveiled its brand new range of “enhancing underpants” for men. The pants come in two styles: “a bum-lift pant” and a “frontal enhancement pant”, one intended to project the image of a well-firmed posterior and the other giving City money men [...]
ENLARGED RETURNS TO GREET M&S SHOPPERS October 4, 2010 FINALLY – the working man’s answer to the wonderbra has arrived: M&S has just unveiled its brand new range of “enhancing underpants” for men. The pants come in two styles: “a bum-lift pant” and a “frontal enhancement pant”, one intended to project the image of a well-firmed posterior and the other giving City money men [...]
Banking bosses call on the City to work together to restore industry reputation October 3, 2010 LEADERS of the UK banking industry are this morning set to gather at the Mansion House for a summit to discuss ways to help the City rebuild public trust in the industry following the excesses and risk-taking of the pre-crisis years. Lord Mayor Nick Anstee will be joined at the event by banking scions such [...]
NEXT LORD MAYOR ELECTED AT THE GUILDHALL September 29, 2010 THE City of London Corporation yesterday elected Alderman Michael Bear (right) as its 683rd Lord Mayor of the City of London. He succeeds current Lord Mayor Nick Anstee (left). Bear, who works as regeneration director at property firm Hammerson, takes up his position on 12 November. “The financial crisis has raised the stakes: it is [...]
BID WAR BREAKS OUT AT LEHMAN ART SALE September 29, 2010 BIDDERS clamoured yesterday afternoon to snap up a piece of banking history, as the art collection from the UK offices of failed bank Lehman Brothers went under the hammer at Christie’s. The most frenzied bidding took place at the beginning of the auction, organised by administrators PwC, when the name sign from the bank’s reception [...]