Marginal seat up for grabs after Mensch quits politics August 6, 2012 DAVID Cameron yesterday endured one of his worst days as Prime Minister after one of his party’s best known backbenchers announced she is to quit politics on the same day that Nick Clegg torpedoed plans to reform parliamentary constituencies. The surprise resignation of rising star Louise Mensch will result in a high-profile by-election that Labour [...]
Eurozone action helps stem bank losses June 29, 2012 The FTSE 100 rose this morning as a string of measures aimed at patching up the Eurozone injected more confidence into markets. Leaders of the bloc agreed to take emergency action to bring down Italy and Spain’s surging borrowing costs, create a single supervisory body for eurozone banks, and enable the bloc’s ESM bailout fund [...]
India 10 years on: The rise of a tourism superpower November 11, 2012 INDIA DRAMATICALLY straddles the ancient and modern worlds: as well as having a space programme, it is home to layers of ancient civilisations, leaving an intricate cultural legacy. But an under-developed service sector used to make it difficult to enjoy India as a holidaymaker. I wanted to find out if the tourist industry was keeping [...]
Former BlackRock City offices set for major redevelopment June 6, 2012 PLANS to redevelop BlackRock’s City headquarters into a new 319,000 square feet office block were recommended for approval yesterday, as the latest office block in the Square Mile takes a step closer to construction. The island site at 33 King William Street on the north side of London Bridge is owned by Topland, the property [...]
New infrastructure cannot dig us from our economic hole August 23, 2012 BAD borrowing figures have increased the pressure on the government to change its course, abandon austerity and crank up new public infrastructure projects. Indeed, with a cabinet reshuffle expected in the next few weeks, a number of people have been saying that David Cameron should shuffle his chancellor, George Osborne, off to the backbenches. Neither [...]
Ireland to invest €2bn in property May 23, 2012 Ireland’s “bad bank” plans to invest €2bn (£1.6bn) in building projects in an attempt to bolster jobs in the country’s property sector. NAMA, set up in 2009 to take property loans off the books of Ireland’s struggling banks, said it will plough cash into both half-finished projects and new builds with a focus on commercial [...]
Tucker: Liquidity rules are damaging the recovery June 12, 2012 REGULATORS should lower banks’ liquidity requirements to help them fight the current crisis, top Bank of England official Paul Tucker said last night, arguing that tight constraints are damaging the sector and the wider economy. The very public intervention shows that Tucker would be a more flexible regulator than outgoing Bank governor Sir Mervyn King. [...]
INNOVATION OF THE YEAR August 1, 2012 City A.M.’s Innovation of the Year category seeks out businesses that are frontrunners in their field, whether finance, marketing or product development. Our shortlist includes green technology, new media, manufacturing, a finance provider and a new approach to financial restructuring. The winner will need to show a genuinely innovative approach and demonstrate significant milestones achieved [...]
Car sales boom on US demand June 13, 2012 US business inventories rose in April as motor vehicle dealers restocked to meet demand, according to a government report published yesterday. The Commerce Department said inventories increased 0.4 per cent to a record $1.58 trillion (£1 trillion), after rising by an unrevised 0.3 per cent in March. The strong rise was driven by a 1.9 [...]
Sants says new Bank governor job is too hard June 13, 2012 HECTOR Sants warned yesterday that the new Bank of England head will have an impossible job to do, thanks to laws passing through parliament that hand power over financial stability and banking supervision to the governor. “We could be concerned that the operational task given to the governor as an individual – of course that [...]