Faulty maths didn’t cause the crisis – but risk management can do better January 3, 2013 MUCH of finance is devoted to the management of risk. Yet before the financial crisis, we spectacularly misunderstood the riskiness of investments which, leveraged to the hilt, inflated a financial bubble that burst in 2007. As the fallout continues, we ask why risk management failed so epically. Many point to the scientific shortcomings of economics. [...]
What the autumn statement means for property players December 20, 2012 Chancellor OF the exchequer George Osborne’s autumn statement, released last month, included a £5.5bn infrastructure package, bringing infrastructure investment to £33bn a year. The funding includes support for long-term private investment in new roads, science, free schools and academies. Osborne also opted to keep property taxes and the rate of stamp duty unchanged, something some [...]
Boris goes Bond for Poppy Day as he speeds down The Thames October 30, 2012 THE Capitalist, and presumably most of London, simply cannot escape Mayor Boris Johnson these days. Fresh from his appearance at the NFL game at Wembley Stadium on Sunday evening, Boris was cruising down the River Thames on a Royal Navy RIB yesterday morning. Pointing his trigger finger at onlookers, Bozza arrived at Canary Wharf in [...]
Essar Energy gets boost from Stanlow as earnings increase November 26, 2012 POWER plant operator and oil refiner Essar Energy yesterday reported an 18 per cent rise in core earnings for the first-half as the benefit of a contribution from its Stanlow refinery in Cheshire offset its struggling Indian power business. The company, which is 77 per cent-owned by privately held Indian conglomerate Essar Group, said operational [...]
Lord Mayor’s daughter goes to great lengths to help appeal June 13, 2012 THERE are still a few free spaces to join 120 adventurous souls who are planning to abseil from the 289ft high Lloyd’s building next Tuesday. It’s all in aid of a good cause. David Wootton, the Lord Mayor, is appealing to a few more Londoners to join the group to support the Trauma Unit at [...]
London Report: Vodafone talks power rebound for FTSE shares August 29, 2013 BUMPER gains among telecom stocks powered a rebound in UK shares yesterday after Vodafone confirmed it was in talks with Verizon to sell out of its US joint venture. The FTSE 100 closed up 0.82 per cent, or 52.99 points at 6,483.05, bouncing back again after falls over the last two days. Vodafone jumped 8.2 [...]
BBC looks to veteran Lord Hall for director general November 22, 2012 THE BBC Trust yesterday made the surprise move of appointing Tony Hall, the chief executive of the Royal Opera House, as the replacement for departed director-general George Entwistle. Former BBC head of news Hall, who left the corporation after 28 years in 2001, was considered for the job during the process that saw Entwistle appointed [...]
What the other papers say this morning December 2, 2012 FINANCIAL TIMES UK’s euro trade supremacy under fire The City of London should be deposed as the euro’s main financial centre so the single currency club can “control” most financial business in the Eurozone, France’s central bank governor has said. Christian Noyer of the Banque de France said there was “no rationale” for allowing the [...]
D&D owner plans a dynamic future December 17, 2012 We are building restaurants to last several business cycles… it shouldn’t matter when you build them” DES GUNEWARDENA peers into his wine glass and wrinkles his nose. The chairman and chief executive of D&D London has invited me for lunch at the Angler, the group’s new seafood restaurant at South Place Hotel in the City [...]
Queen and Prince Philip inspect Bank of England’s gold stash December 13, 2012 WHEN they weren’t making insightful observations on the state of the UK’s financial regulation yesterday, The Queen and His Royal Highness The Duke of Edinburgh seemed to enjoy the rest of their visit to the vaults of the Bank of England yesterday. As tradition dictates, the Queen and Prince Philip both signed an unissued £1m [...]