City Matters: India is a sleeping economic giant – the City stands to gain from its rise December 14, 2014 IN RECENT years, the UK has traded more with Ireland than all of the Bric nations (Brazil, Russia, India and China) put together. That fact has been rolled out regularly by our politicians over the past few years. And it also explains why trade delegations led by the Prime Minister and other ministers to emerging [...]
Record boom in construction adds kick to economic growth October 2, 2014 CONSTRUCTION is booming, posting its strongest three-month expansion for 17 years and helping to fuel growth. That is according yesterday’s publication of the purchasing managers index (PMI) by Markit and the Chartered Institute of Purchasing and Supply, which scored 64.2 in September. This an increase from 64 in August as the survey measure stays well [...]
Global regulator sets out new shadow banking rules October 14, 2014 Multinational regulatory body the Financial Stability Board (FSB) has set out proposals to strengthen rules on short-term lending, affecting both banks and non-banks, as it moves to curb risks in shadow banking. The FSB, which coordinates regulation for the G20 and is headed by Bank of England governor Mark Carney, is concerned that increased [...]
HSS Hire IPO: Equipment rental company tools up for float with retail offer January 12, 2015 The equipment hire firm is banking on UK economic growth. Equipment rental company HSS Hire yesterday started the engine on a £103m float aimed at selling a quarter of the company’s stake and reducing its £200m debt pile. The listing, like that of the Trainline.com, announced last week, will include a retail offering to [...]
Greene King share price falls after £774m Spirit takeover agreed November 4, 2014 Greene King and Spirit Pubs have finally reached a takeover agreement after negotiations between the two groups went down to the wire. A £773.6m offer from Greene King, valuing Spirit at around 115p per share, has been accepted. Shareholders in Suffolk-based Green King will take a 71.1 per cent stake in the combined company, with [...]
TTIP: David Cameron says EU-US free trade deal set for “rocket boost” after G20 summit and calls opposition arguments weak November 16, 2014 Prime Minister David Cameron has hailed successful talks between countries of the EU and the US to speed up trade deal negotiations at the G20 summit. Countries have promised to put “rocket boosters” under the Transatlantic Trade and Investment Partnership (TTIP) which Cameron said would add £10bn to the UK economy and create jobs. “This [...]
Autumn Statement 2014 predictions: What to watch out for December 2, 2014 WHO: GEORGE OSBORNE WHEN: 12.30 TODAY WHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW £2bn cash injection for NHS The NHS will receive an extra £2bn in funding, £1.3bn from departmental savings and £700k from the existing health budget. There will also be a £15m dementia fund £2.3bn for flood defences Extra money for [...]
Lord Myners report rescues Vince Cable over Royal Mail IPO December 18, 2014 The government received unexpected praise over Royal Mail’s float. But the City is being told to make some changes. One quick glance at the share price told the City’s critics’ everything they wanted to hear. The Royal Mail privatisation was another classic case of over-paid charlatans ripping the taxpayer off to the tune of [...]
Bank competition is picking up speed – and this inquiry is a vital next step November 6, 2014 YESTERDAY, the Competition and Markets Authority (CMA) announced that it will be launching far-reaching investigations into the state of competition in the personal current account and smaller business banking markets. This is an extremely significant development, and one that the government welcomes. It is exactly why we created the CMA. A key part of our [...]
Media company Gorkana sold to Cision for £200m October 22, 2014 AMERICAN media group Cision yesterday snapped up British PR data company Gorkana in a deal estimated to be worth £200m. Exponent Private Equity sold the company, after building it up from Durrants, Metrica and Gorkana, merging the three into a combined group. Gorkana was founded in 2005 by former Brunswick PRs Michael Webster and Alex [...]