CITY MOVES | WHO’S SWITCHING JOBS December 17, 2009 Aviva The insurance giant has appointed Gary Price as marketing director of its UK business. Price will be responsible for customer insight, strategy, brand, sponsorship, communications and corporate responsibility across the UK’s life and general insurance businesses. He was most recently responsible for the reattribution of the inherited estate at Aviva, having joined the business [...]
Strength in energy issues is offset by weakness in miners January 11, 2010 BRITAIN’S leading share index ended flat yesterday with strength in energy issues countering a sell-off in miners, weak financial issues and uncertain progress on Wall Street. At the close, the FTSE 100 index was up 3.83 points, or 0.1 per cent, at 5,538.07, having touched a 16-month intraday peak of 5,600.48 early in the session. [...]
Minerva bullish on recovering demand for prime properties November 12, 2009 PROPERTY developer Minerva said yesterday increased demand for quality property would hold it in good stead – but failed to update the market on lettings at its two City developments. The interim statement coincided with property advisor Drivers Jonas’s London Crane Survey, which crowned Minerva as the developer with the most speculatively developed space under [...]
Grainger asks for more cash November 5, 2009 GRAINGER joined its property peers yesterday by announcing it will raise £250m in a rights issue to boost its ability to snap up acquisition opportunities. The group, which said it had swung to a £3m pre-tax loss in the year to 30 September, compared to £12m profits the year before, said it will issue 277m [...]
Proposals out on living wills December 16, 2009 EMPLOYEES will be guaranteed the option of working out a notice period and clients promised swift access to their money in the event of a future high-profile investment bank failure, under the terms of proposed government legislation unveiled yesterday. City minister Lord Myners launched the consultation paper on so-called “living wills” – measures for an [...]
BEST OF THE BROKERS November 8, 2009 ITVRoyal Bank of Scotland reiterated its “buy” rating on ITV and raised its target price from 60p to 66p, following the broadcaster’s upbeat trading statement last week.It also raised its net advertising revenue (NAR) forecast from -12.6 per cent to -10.4 per cent, driving a 22 per cent increase in its 2009 operating profit forecast.GREAT [...]
BANKERS STAY QUIET ON UNITED BOND DEAL January 11, 2010 CITY bankers are not usually backwards in coming forwards when it comes to getting publicity for their transactions, so why the reticence yesterday when it came to taking the credit for Manchester United’s £500m bond issue. United’s initial press release was as brief as could possibly be, with no mention even of the banks involved [...]
City defends high bonus expectations October 14, 2009 WALL Street banks are on track to pay employees a record $140bn (£88bn) this year, and despite predictions of a public backlash,City figures say that bonuses are well-deserved. Bankers’ bonuses look set for a resurgence, after US bank JP Morgan Chase smashed analyst expectations to report third-quarter earnings of $3.59bn (£2.5bn), a 72 per cent [...]
MANDY UNLEASHES HIS SHARP WIT AT BUSINESS FOR EUROPE DEBATE January 14, 2010 IT’S good to know that it’s not only opposition politicians who are subjected to the sting of Lord Mandelson’s acerbic tongue, but members of his own party as well. Mandy was yesterday morning in attendance at City superspinner Roland Rudd’s Business for New Europe event at the grand Victoria Embankment headquarters of investment bank JP [...]
CITY HEAVYWEIGHTS GET THE URGE TO SLOG IT OUT IN THE BOXING RING January 13, 2010 THE High Court case rumbling on and on between BGC Partners and Tullett Prebon might not have exactly brought the City’s main money broking camps closer together, but at least it’s helped forge some more playful liaisons between those on the same side. Tullett’s boss, City veteran Terry Smith, is well known for his prowess [...]