The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
Payday for Brits who lost out in Madoff scheme January 7, 2014 BRITISH investors who were burned in the Bernie Madoff scandal are set to get some of their money back, after the US authorities yesterday levied a $1.7bn (£1bn) fine on JP Morgan. Regulators said the bank bore some of the blame for the fraud by hosting Madoff’s accounts and failing to report concerns over his behaviour. [...]
Gores takes a £30m bite out of Hovis bread January 27, 2014 PREMIER Foods has struck a deal to spin off its struggling Hovis bread business into a new joint venture controlled by US billionaire investor Alec Gores, ending 125 years in British hands. The group confirmed yesterday that private equity firm Gores will pay £30m for a 51 per cent controlling stake, ending months of speculation [...]
British Land acquires mall July 31, 2012 BRITISH LAND yesterday said it has bought a 50 per cent share in the Eden Walk shopping centre in Kingston-upon-Thames for £41.5m. The firm bought the stake in the 1960s mall from the Universities Superannuation Scheme, its partner on Whiteley Shopping Centre in South Hampshire, which is due to open next year. The pair plan [...]
UK set to land 378,000 jobs thanks to re-shoring October 11, 2014 The UK could see 378,000 jobs created over the next three years thanks to mid-market firms re-shoring some of their business, according to research from General Electric Capital and Warwick Business School. Furthermore, executives of these businesses believe revenues could rise by 14.8 per cent – or £3.8m firm per annum, with an average up-lift [...]
Falcon business jet contract win for Meggitt October 23, 2013 Meggitt has announced a multi-million dollar contract win for a braking and control system with Dassault. (Release) Dassault, who make Rafale combat planes, has selected the British aerospace engineering business to develop the systems for the all-new Falcon 5X business jet. Meggitt's chief executive officer Stephen Young commented that the award "is a significant milestone [...]
Get away from it all in style January 26, 2014 From pristine African beaches to chic European winter bolt-holes, 10 luxury island retreats that are guaranteed to get you far from the madding crowd 1. Naka Yai Island, Phuket, Thailandluxurycollection.com/nakaLocated on the southern part of Naka Yai island, just off the eastern coast of Phuket, the Luxury Collection resort has 67 villas, all with private [...]
The 7 issues Clegg and Farage must tackle in EU debate February 21, 2014 As Nick Clegg and Nigel Farage prepare to go head to head over Britain's membership of the European Union, LBC listeners will be waiting eagerly to see which arguments the two men use to land their best blows. In terms of what is most important for Britain regarding EU membership, here are seven of key [...]
What the other papers say this morning – 20 January 2014 January 20, 2014 FINANCIAL TIMES David Cameron faces EU isolation David Cameron risks “damaging Europe” with his anti-immigration stance, according to some of Britain’s allies, leaving the prime minister looking isolated in his attempts to restrict free movement in the EU. Ministers and officials from several EU powers told the Financial Times they would resist Mr Cameron’s attempts [...]
What the other papers say this morning – 06 January 2014 January 6, 2014 FINANCIAL TIMES Europe to ease reform on bank splits Brussels is set to ease financial reforms so that big European banks are not forced automatically to split lending operations from risky trading. In a draft European Commission proposal, seen by the Financial Times, the separation is no longer mandatory, would be less costly and restrictive [...]