Bank rally helps steady FTSE May 21, 2012 The FTSE 100 was solid this morning despite the storm clouds – created by the Eurozone crisis – still hanging over markets. Over the weekend G8 leaders stressed their “imperative” was to promote growth and jobs and gave verbal backing for Greece to stay in the euro. But despite calls from the United States for [...]
Samsung funds Cluff in Africa September 12, 2012 ■ British miner Cluff Gold yesterday announced Samsung was to fund the junior stock market-listed miner’s operations in West Africa, in return for buying gold from Cluff at a discount. The partnership, which will land Cluff a $20m (£12.4m) windfall to look into further development opportunities, could see Samsung fund around half the estimated $200m costs of [...]
Useless PR has turned NatWest’s woes into a corporate nightmare June 26, 2012 FOUR years ago, Stephen Hester was CEO of British Land. Not a company many people know of, let alone its boss. But today, not only is Hester running RBS – one of Britain’s best known banking groups and owners of NatWest – he is a household name. First it was his salary, then it was his [...]
Meet our panel of City judges October 17, 2012 Allister Heath, City A.M. Allister joined City A.M. as editor in 2008. He oversees all of the content in the newspaper and also writes a daily Editor’s Letter. He is also a frequent contributor to other print and broadcast media, and is a regular guest on TV news. David Hellier, City A.M. David has been [...]
Banks and a brave industry boss square up to claims firms November 14, 2012 BRAVERY is not a quality conventionally attributed to the bosses of business lobbying groups but step forward, John Cridland. The CBI director-general’s decision to lob a grenade into the row over payment protection insurance (PPI) mis-selling is in danger of splitting his body’s membership. Cridland’s argument that there should be a time limit on compensation [...]
Long Run too short for testing reappearance in Betfair Chase November 22, 2012 ALL eyes will be on Haydock tomorrow for the three-mile Betfair Chase (3.05pm), the first Grade One of the National Hunt season. As well as being a brilliant contest in its own right, with a prize fund of £200,000, it serves as a starting point for the top chasers on the road to the Cheltenham [...]
British Land sees asset values jump to almost £10bn August 4, 2011 BRITISH Land, one of the country’s biggest landlords, saw the value of its assets rise as it made more acquisitions and pressed ahead with its £1.1bn office development pipeline that includes the Cheesegrater skyscraper in east London. The property developer said its portfolio value increased by 1.5 per cent to £9.9bn during the quarter, with [...]
EU budget stalemate: The battle is about more than European waste November 25, 2012 THE EU summit in Brussels last week ended the way most people expected: no agreement. The deal on the table from Hermann van Rompuy – president of the European Council – was for a €973bn (£787.5bn) budget over seven years in 2011 prices. It was significantly less than the over €1 trillion budget originally proposed [...]
Omnifone reaches first profit as music streaming takes off September 11, 2012 DIGITAL music streaming provider Omnifone yesterday reported its first profit since it launched nine years ago. The company, which has launched music services for Sony and BlackBerry phones as well as its own Rara operation in the last year, said revenue had more than doubled to £29.5m in the year to May as it posted [...]
Frankenstorm October 29, 2012 First two day close of New York exchange due to weather since 1888 Millions left without power as storm surge threatens Manhattan Insurers estimate the total cost of the damage could reach $10bn HURRICANE SANDY last night hit the US’s North East coast, closing stock exchanges, grounding aeroplanes, flooding low-lying areas, and potentially landing insurers [...]