Bubblenomics will fuel total demand in the British economy August 8, 2013 IF THE UK economic rebound continues, the total amount of demand in the economy is likely to rise more strongly than most people realise. I write this even though I don’t think that the recovery is ultimately sustainable: it remains based on rock-bottom interest rates, excessive consumption, insufficient investment and will in any case eventually [...]
Britain’s business elite is becoming increasingly Eurosceptic April 24, 2013 A PERNICIOUS myth has finally been laid to rest. From today, nobody can claim any longer that British business is united in its support of the European Union and the ever-greater centralisation of powers in Brussels. With over 500 business people – from top FTSE 100 bosses to entrepreneurs – signing up to Business for [...]
3i targets more sell-offs after £615m disposal February 12, 2013 BRITISH investment giant 3i yesterday sold its plastic equipment business Mold-Masters to US rival Milacron for C$975m (£615m), pleasing investors who want the business to pay down its debt pile. Proceeds from the deal will be around £219m – 2.6 times the initial £84m investment 3i made in October 2007. The company said there had [...]
City A.M. shadow MPC votes 7-2 against more QE February 6, 2013 ALLISTER HEATH | CITY A.M. “No change. There is no longer any lack of money supply, and the services sector purchasing managers’ index business survey suggests we may just about escape a triple-dip, if we are lucky. The real problem in the UK is that ultra-loose monetary policy is keeping zombie firms alive, slowing the [...]
Countrywide in float plan in bid to raise £200m February 21, 2013 COUNTRYWIDE Holdings, Britain’s largest estate agency, is to return to the market six years after it was taken private, heralding a further sign of recovery in the housing market. The company aims to raise £200m through the issue of new shares, which it said it will use to repay debts and fuel further growth. It [...]
City Moves for 7 January 2013 | Who’s switching jobs January 7, 2013 SJ Berwin The law firm has announced the appointment of Steven Fogel to its partnership board and as a non-executive director. He was previously senior partner of Titmuss Sainer, and led the law firm in its merger with Dechert. Fogel then served as managing partner of Dechert’s London office before retiring in June 2012. He [...]
City A.M. | Our MPC votes 7-2 against new policy January 9, 2013 ALLISTER HEATH | CITY A.M. “No change – there is enough money in the economy, and liquidity measures are increasing. The recent dip in sterling will merely import more inflation into the UK, won’t bolster exports and mustn’t be helped along by even loser monetary policy. The economy is stagnating but ultra-loose money is part [...]
You would be mad to miss this January 3, 2013 FILM Iron Man 3 In cinemas 26 April While Iron Man 2 was met with mixed reviews, director Jon Favreau made a big comeback with The Avengers last year, which quickly became the highest grossing comic book film of all time. Expectations for the third installment of Iron Man, then, are high and so far [...]
Who’s switching jobs November 12, 2012 KNG Securities The fixed income product provider has appointed Andrea Podesta as managing partner and head of fixed income. He joins from Bank of America Merrill Lynch, where he was managing director and head of southern Europe fixed income sales. BNY Mellon The financial services firm has appointed Alan Cottam as regional business head for [...]
City A.M. | MPC votes 7-2 against any new policy December 5, 2012 ALLISTER HEATH | CITY A.M. “No new quantitative easing and no further cut to rates. Quantitative easing (QE) needs to be halted – despite worrying signs that the economy has ground to a halt again, not least dire purchasing managers’ index (PMI) business survey figures – because it is a key contributor to the rise [...]