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 [...]
CITY SET TO APPOINT ITS LATEST LORD MAYOR September 28, 2010 IT’S ALL change for the City in the traditional sense this week, with the annual election of the Lord Mayor taking place later on today. As is the way with these things, the result of the “election” is almost a foregone conclusion before it’s even begun, since the City of London’s senatorial group, the Court [...]
GOVERNANCE TRAINSPOTTERS GET KNICKERS IN A TWIST OVER FLINT September 27, 2010 IT’S been a tiring week for HSBC, which is currently juggling the handling of a full-scale management game of musical chairs, the fallout from its leaky succession-planning AND a band of disgruntled sticklers for corporate governance among its shareholder base. So it’ll come as a welcome surprise for the bank to learn that a conservative [...]
The Tories shouldn’t write-off Red Ed September 26, 2010 POLITICAL EDITOR THERE is undisguised mirth in Tory circles at the election of Ed Miliband as Labour leader. On Saturday night, shortly after the result was announced, staff at Conservative HQ were popping open the champagne. Advisers to David Cameron think the next election is more winnable than ever. Much of this relief is understandable. [...]
Banks threatening to quit UK over new plans September 26, 2010 FOR SOME time now, the City of London has warned of a “tipping point” – a point in time where the benefits of being based in the UK no longer outweigh the tax and regulatory burden. Many commentators have dismissed this warning as an empty threat from an industry looking for a return to the [...]
MAYOR GETS A FLAVOUR OF SHANGHAI September 19, 2010 LORD MAYOR Nick Anstee was in China this weekend to visit the Shanghai Expo as the UK pavilion passed the 6m visitor mark. The mayor led a City business delegation and discussed opportunities for closer partnership with key Chinese industry figures and regulators including the Banking Regulatory Commission, China Insurance Regulatory Commission and China Securities [...]
China now a bigger player on financial stage September 12, 2010 China’s rapid ascent to become the world’s second largest economy provided confirmation – if any was needed – that the country is a key player on the global financial stage. And with China forecast to grow at around 10 per cent this year – down from recent pre-crisis highs but still far in advance of [...]
STRIP CLUB BOSSES STAKE OUT THEIR TURF September 8, 2010 LOOKS like The Capitalist ruffled a few feathers yesterday with a tale about former Spearmint Rhino managing director Simon Warr setting up a new strip club, Platinum Lace, on his previous employer’s territory in the heart of London. Spearmint Rhino bounded in immediately with a robust defence of its business, which is apparently booming at [...]
DAUGHTERS JOIN DADS FOR GALA FUNDRAISER September 6, 2010 IF THE remaining doubters needed proof that the City has opened its arms wide to the talents and potential of the fairer sex, look no further. The Mansion House yesterday evening played host to hundreds of guests for the latest gala fundraiser for Lord Mayor Nick Anstee’s charity Appeal: a dinner specifically for the fathers [...]
Get on your bike to avoid Tube congestion August 30, 2010 ANYONE who works in the Square Mile will know how empty it can feel in August as City workers – myself included – decamp for a well earned break. And yet, somehow, this summer downturn appears to have no impact whatsoever on the overcrowded tubes, trains and buses bringing commuters into the City at rush-hour. [...]