CITY MOVES | WHO’S SWITCHING JOBS June 19, 2011 Co-operative Bank The Co-operative Bank has appointed Richard France (left) and Chris Wilson to lead the Corporate and Business Relationship Banking team and the Corporate Banking Specialist Sectors operations respectively. France was previously head of the Bank’s nationwide corporate banking centres and Wilson led the firm’s Commercial Real Estate, Public Sector and Treasury Sales activities. [...]
Moody’s in threat to cut rating of 14 UK financial groups May 24, 2011 Credit rating agency Moody’s said it may cut its rating on 14 British financial groups, including Lloyds and Royal Bank of Scotland, following a reassessment of the level of systemic support they need. The companies which could be downgraded by Moody’s included Bank of Ireland UK, Co-Operative Bank, Coventry Building Society (A3); Lloyds TSB Bank [...]
House prices recover from late 2010 dip March 31, 2011 HOUSE prices recovered for the second month in a row in March, suggesting that the housing market may be beginning to thaw. Prices across the UK were up 0.5 per cent compared to February, when they also increased by 0.7 per cent on January, the Nationwide said yesterday. Prices are now higher than in the [...]
Property guru is back in business May 22, 2011 THE FOUNDER of property website Rightmove has come out of retirement, setting up a conveyancing firm to try and cash in on the complexities of the UK real estate market. Harry Hill has launched In-Deed, an online conveyancing service that lets house-buyers track progress of their purchase through mobile phones and a website. Hill, who [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 24, 2011 FINANCIAL TIMES CHINA EYES BARTER PLAN TO BYPASS US SANCTIONS ON IRAN PAYMENTS Tehran and Beijing are in talks about using a barter system to exchange Iranian oil for Chinese goods and services, as US financial sanctions have blocked China from paying at least $20bn for oil exports. The US sanctions against Iran, which make [...]
FOOD & BOOZE NEWS May 16, 2011 BOMBAY BEACH PARTY ON SOUTHBANK Dishoom, the St Martin’s Lane eatery inspired by Bombay’s past cafe culture, has opened a pop-up version on Southbank complete with its own beach. It’s been made using 48 tonnes of sand and is offering “gola” drinks – Bombay’s answer to the slushie or snow cone – alongside a host [...]
Bank lending data shows slump May 4, 2011 Lending to consumers and homebuyers rose less than expected in March, Bank of England data showed, adding to evidence of a sluggish economy from the construction sector and falling house prices. A slew of weaker-than-expected data, kicked off by tepid first-quarter growth figures last week, have caused economists to push back their expectations of a [...]
House prices drop nationwide September 26, 2010 House prices have fallen across all regions for the first time since April 2009, according to September’s Hometrack survey. The monthly report, published today, reveals average prices dropped by 0.4 per cent to £157,600. London and the South East recorded price drops of 0.4 per cent and 0.5 per cent respectively with London’s average price [...]
Bank reveals weak lending on mortgages May 4, 2011 SLUGGISH mortgage lending and stuttering house prices continue to haunt the UK’s housing market, a series of data releases showed yesterday. Mortgage lending grew by just £400m in March, the Bank of England revealed – below increases of £1bn and £1.7bn in the two previous months, and an average jump of £800m over the last [...]
Job cuts of 15,000 send Lloyds up 10pc June 30, 2011 LLOYDS has announced plans to slash 15,000 jobs over the next three years in one of the biggest banking payroll cuts in living memory. The announcement formed part of a highly anticipated strategic review that saw investors pile into the bank’s shares, sending its stock soaring to close up 9.73 per cent. The lion’s share [...]