Miners lead FTSE up after China boost October 24, 2011 Markets have risen this morning triggered by hopes that a deal to resolve the Eurozone debt crisis can be put together while manufacturing data showed China’s growth is picking up. Although a weekend summit of Eurozone leaders was inconclusive with bickering clouding the talks. The skeleton of a deal was agreed with a summit to [...]
WILL THE NEW WESTFIELD CENTRE ENCOURAGE YOU TO SHOP IN EAST LONDON? September 14, 2011 KIM WAKE | ETHOS COMMUNICATIONS “Yes I think so. It’s only a short trip from London and colleagues who have already been have told me it’s really impressive. I think it can be a real asset for London and really expand on what’s already on offer here.” JAMES MILNE | LLOYDS “It’s completely out of [...]
City insurance market bigger than expected September 5, 2011 LONDON insurers are writing far more business than previously believed, cementing London’s status as a top global insurance hub, new research yesterday showed. City insurers wrote a total of £39bn of gross premium in 2010, a third more than the £30bn estimate for the industry previously used, the International Underwriting Association said after surveying the [...]
Weak City to harm UK jobs October 30, 2011 THE NEGATIVE impact of the Eurozone crisis on the City will damage the whole of the British economy, economists warned this morning. Financial sector employment fell by 14,000 in the second quarter, Ernst and Young’s Item Club said, while it expects no or little recovery in City jobs next year. “Given the extent to which [...]
CITY MOVES | WHO’S SWITCHING JOBS October 19, 2011 Rockspring Rockspring Property Investment Managers has appointed Hugh Bigham (pictured) as head of capital raising and client services for North America. Bigham joins from the Sydney office of Principle Advisory Services, where he supported real estate and private equity managers. In addition, Julianne Cho joins from Cornerstone Real Estate Advisers as client services representative in [...]
CITY MOVES | WHO’S SWITCHING JOBS October 27, 2011 Otkritie Financial Corporation Howard Snell (pictured) has been appointed as the chief executive of Otkritie Securities in the UK, reporting to Vadim Belyaev, who has been appointed as chairman of the board of directors at the group’s investment banking arm Otkritie Capital. In addition, Roman Lokhov has been promoted to first deputy chairman of Otkritie [...]
Goldman plunges into red October 18, 2011 GOLDMAN Sachs shocked investors by reporting the second-ever quarterly loss in its history as a public company yesterday. The bank’s net income plunged to a $428m (£273m) loss, with pre-tax profits falling from $2.8bn last year to a $730m loss in the third quarter of this year. Chief executive Lloyd Blankfein admitted he was “disappointed”. [...]
Goldman plunges into red October 18, 2011 GOLDMAN Sachs shocked investors by reporting the second-ever quarterly loss in its history as a public company yesterday. The bank’s net income plunged to a $428m (£273m) loss, with pre-tax profits falling from $2.8bn last year to a $730m loss in the third quarter of this year. Chief executive Lloyd Blankfein admitted he was “disappointed”. [...]
Markets hit by MF Global bankruptcy October 31, 2011 MARKETS plunged in London and New York yesterday as MF Global, the $41bn brokerage, became the first big American casualty of the European sovereign debt crisis. MF Global Holdings filed for Chapter 11 bankruptcy protection in the US following the collapse of a last-minute deal to sell off assets. It became the eighth-largest bankruptcy in [...]
NBNK suspends shares ahead of possible deal September 6, 2011 NEW banking venture NBNK Investments suspended its shares yesterday as it confirmed it was in talks that could lead to its maiden acquisition. However, the bank declined to name its target, despite sources yesterday confirming that it would look to buy the UK operations of National Australia Bank. “There can be no certainty that a [...]