Watchdog tells Lafarge Tarmac to sell off plant October 8, 2013 BRITAIN’S monopoly regulator yesterday said it wanted to boost competition in the cement industry by requiring Lafarge Tarmac, one of the major players, to sell a cement plant to a new entrant in the market. “The best way to disturb the balance of a market where producers have focused on retaining their respective market shares [...]
Amec sets out £1.9bn offer for Foster Wheeler January 13, 2014 ENGINEERING firm Amec has provisionally agreed to buy US rival Foster Wheeler for $3.2bn (£1.9bn), both parties said yesterday. Samir Brikho, chief executive of the FTSE 100-listed company, described the acquisition as “transformational” for Amec, enhancing its position in the downstream energy sector and in developing markets such as Latin America. Threadneedle Investments, a top [...]
Ed Miliband’s attack on developers ignores why housebuilding is in crisis December 16, 2013 ED MILIBAND was right to identify the housing affordability crisis as one of Britain’s most important policy challenges in his speech yesterday. Sadly, his mixed bag of proposals (expanding urban council boundaries, a 200,000 annual home-building target and fines for “land hoarders”) does not address the fundamental reasons why developers are not supplying the market [...]
Ed Davey defends state-subsidised EDF-Chinese nuclear reactors October 21, 2013 The British government and French utilities company EDF have signed a deal to build two nuclear reactors totalling £16bn at Hinkley, Somerset. The new reactors will be built at Hinkley Point C, with the assistance of EDF's Chinese partners, China General Nuclear Power Group and China National Nuclear Corporation. The Department for Energy and Climate [...]
Cost of energy hammers EU industry September 25, 2013 The European Commission has released a report concluding that high energy costs are harming EU competitiveness and have led to de-industrialisation across Europe. Europe's industrial base has declined from 15.5 per cent last year to 15.1 per cent this year. The data presented in the report concurs with the World Economic Forum’s competitiveness report showing [...]
Letters to the Editor – 14/10 – Public sector pay, Emissions taxes, Best of Twitter October 13, 2013 Public sector pay [Re: Wages in public sector still beat private sector, Friday] It is hard to believe this has not been properly tackled. As long as public sector pay outstrips the private sector in any part of the country, the goal of the best and brightest young people will be to work for a [...]
City Moves for 07 November 2013 | Who’s switching jobs November 6, 2013 Quantum Advisory The actuarial and benefits consultancy firm has announced the hire of Darren Wateridge as senior consultant and actuary. He has over 15 years’ experience in the pensions market. He was most recently at Aegon, where he worked in its corporate solutions division. CMS Cameron McKenna The legal and tax services company has recruited Keith [...]
UK needs to be HS2 ready says Lord Deighton October 23, 2013 A growth taskforce led by Lord Deighton has said towns and cities across the UK need to be "HS2 ready." The taskforce has made the claim that the controversial project is a once in a generation chance change the face of the country. Commercial secretary and HS2 Growth taskforce chair Lord Deighton said on Wednesday: [...]
Review: Foxlow, Clerkenwell January 14, 2014 RESTAURANT WHERE 67-79 St John Street, EC1M 4AN Tel: 020 7014 8070 FOOD Three Stars VALUE Three Stars ATMOSPHERE Four Stars Cost for two with wine: £100 HERE at City A.M. we are big fans of private equity buyouts – largely because they give us something to write about. They’re also a cracking excuse to [...]
Labour declares war on business September 24, 2013 Miliband hits energy firms with plot for £4.5bn price freeze British Gas owner Centrica threatens to quit UK over plan Policies on tax, energy and construction slammed ED MILIBAND yesterday launched an extraordinary attack on swathes of British business as he returned his party to its left-wing roots by unveiling a range of punitive policies [...]