Asian markets slide as Chinese manufacturing disappoints February 20, 2014 Asian stocks are falling in the wake of the preliminary China purchasing managers' index (PMI) from HSBC/Markit for February, which fell to a seven-month low of 48.3. The index continued to slide from January's reading of 49.5, as employment declined at the most rapid rate seen in the past five years. A slowdown in the [...]
Bottom Line: Investors get paid just in time for floats February 19, 2014 OVER the course of the next few weeks, Vodafone shareholders will receive nearly £15bn in cash and £37bn in Verizon shares as a result of the group’s decision to sell its stake in Verizon Wireless last year. What perfect timing that appears to be for an ever growing list of companies wishing to raise money [...]
HSBC earns its Breitling wings February 19, 2014 THE CAPITALIST wandered down to Canada Square yesterday where Breitling had set up its flight simulator and was challenging the local banks to battle each other over the next two days, for the chance to fly in the real thing with Breitling’s jet team in Dijon. “I’ve just had a go, it was great fun and [...]
City Moves for 20 February 2014 | Who’s switching jobs February 19, 2014 Santander Corporate & Commercial Andrew Whelan has been appointed managing director for regional real estate finance at Santander Corporate & Commercial. He joined in 2010 from Bank of Ireland, and has previously held roles at Barclays. Aldermore Asset Finance The challenger bank has made three appointments to its asset finance team. Carey Hansford joins as a business [...]
Video: We check out the Breitling flight simulator in Canary Wharf February 19, 2014 Ever flown a fighter jet? No? Us neither, but we've had a go on a fighter jet flight simulator as of today. Uber swanky watch brand Breitling set up the simulator in Canada Square shopping centre, Canary Wharf in a bid to encourage bankers and other Canary Wharf-ite's to battle against each other for the [...]
Metro Bank in running for PwC bank contract February 18, 2014 METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC’s business, as the professional services firm shakes up its finance relationships. The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm. PwC also audits Barclays and Lloyds, narrowing the field in [...]
Aviva Investors offloads stake in Dublin’s Liffey Valley for €250m February 17, 2014 AVIVA Investors has sold its majority stake in a Dublin mall in a deal worth over €250m (£205m), it announced yesterday, in the latest sign of a resurgent Irish property market. The firm, which developed the Liffey Valley site 15 years ago, had looked to exit its 72.8 per cent holding in 2011 but scrapped [...]
Finance chiefs are best value February 17, 2014 THE BOSSES of finance firms are among the best value for money, according to a new study from pay specialists Patterson Associates. In the FTSE100 the index suggests HSBC saw the best value from its chief, with shareholders gaining £7,495 in value for every £1 paid to chief executive Stuart Gulliver. Barclays, Lloyds and RBS [...]
Land Secs sells Docklands block February 17, 2014 Land Securities has sold a chunk of its 470,000 square feet Harbour Exchange development in London’s Docklands for £37m. Property fund manager Clearbell and Morgan Stanley AIP Real Estate announced yesterday that they have bought 3 and 4-5 Harbour Exchange, a group of office buildings just south of Canary Wharf, which are home to a [...]
PwC wins £9m audit contract for Vodafone February 13, 2014 VODAFONE will replace auditor Deloitte after 26 years with rival PwC from April. The FTSE 100 telecoms giant made the announcement following a tender process first announced in November 2013. “We thank Deloitte for their significant contribution as Vodafone’s auditors and we look forward to working with PwC going forward,” said Vodafone audit and risk [...]