Strong US profits good for recovery July 22, 2010 TWO major stories have been dominating market sentiment this week. The first was the run-up to the Eurozone bank stress tests; we will know results this afternoon but few are convinced of their rigour. It won’t quite be a whitewash but many Club Med banks will be let off too easily. The second story has [...]
Q&A CURRENCY June 24, 2010 CAMILLA DELL MANAGING PARTNER AT BLACK BRICK Q.Dear Camilla, I am a London property developer and in light of this week’s Budget, what will the week’s announcements mean for the capital’s housing market? A.Well, the rise in capital gains tax (CGT) was far, far less than everybody expected, which is a great relief for those [...]
Managers buy out Searcys June 21, 2010 SEARCYS, the operator of the restaurant at the top of the iconic Gherkin tower, has been bought out by its management team in a deal valuing the business at around £8m. The deal will see the upmarket restaurant group return to private ownership three years after it was bought by Alternative Hotel Group (AHG), the [...]
Managers buy out Searcys June 21, 2010 SEARCYS, the operator of the restaurant at the top of the iconic Gherkin tower, has been bought out by its management team in a deal valuing the business at around £8m. The deal will see the upmarket restaurant group return to private ownership three years after it was bought by Alternative Hotel Group (AHG), the [...]
TONY HAYWARD: I AM DEEPLY SORRY June 17, 2010 TONY HAYWARD, BP’s embattled chief executive, yesterday sought to distance himself from the devastating Gulf of Mexico oil spill during a heated interrogation by Senators. Hayward, who appeared before the House energy and commerce sub-committee panel looking tired and worn-out, told Senators that all of the decisions made about the Macondo well, which is gushing [...]
TONY HAYWARD: I AM DEEPLY SORRY June 17, 2010 TONY HAYWARD, BP’s embattled chief executive, yesterday sought to distance himself from the devastating Gulf of Mexico oil spill during a heated interrogation by Senators. Hayward, who appeared before the House energy and commerce sub-committee panel looking tired and worn-out, told Senators that all of the decisions made about the Macondo well, which is gushing [...]
THE TIPSTER May 31, 2010 STERLING-US dollar has been well-supported of late on fears that Prudential’s planned purchase of AIA could collapse. A large currency hedge shorting cable was put in place some months ago when the deal was first agreed and if it falls over, the hedge will come off, sending sterling-US dollar higher. While highly speculative, traders should [...]
OSBORNE: BANK IS KING OF CITY June 16, 2010 GEORGE Osborne unveiled sweeping changes to the way the City is regulated last night, scrapping the Financial Services Authority and giving a beefed-up Bank of England huge powers. Bank governor Mervyn King is set to become one of most influential central bankers in the world under the shake-up, with responsibility for maintaining the overall stability [...]
Persimmon sees its sales rise by a fifth April 22, 2010 HOUSEBUILDER Persimmon yesterday said sales were up by a fifth on last year despite a “backdrop of continued uncertainty” from the fledgling economic recovery and upcoming election. The FTSE 250 listed group reported total sales since the start of the year stand at £1.15bn in a trading update. The firm said weekly sales volumes remain [...]
House prices bouncing back April 8, 2010 HOUSE prices increased for the eighth time in nine months in March, but experts warn more property being put up for sale could dampen further price rises. The latest house price index shows prices rose by 1.1 per cent during March, partly offsetting February’s 1.6 per cent fall. The rise means prices during the first [...]