Carney says Scottish banks might have to move south March 11, 2014 SCOTLAND’S biggest banks may have to be rehomed in England if the country votes for independence, after Bank of England governor Mark Carney said yesterday it was unclear whether they could be run from Scottish head offices. During a quizzing by the MPs of the Treasury Select Committee, Carney admitted: “It is not clear in [...]
We’re building a virtual ring of steel to tackle the threat of cyber crime February 12, 2014 UTTER the words “cyber crime” and many minds will conjure up an image of an awkward teenager, tapping away in their bedroom well into the early hours. But cyber crime can be much scarier than that. Threats today also come from criminal networks and foreign governments that deploy cyber weapons. Some of these assailants are [...]
What the other papers say this morning – 27 August 2013 August 26, 2013 FINANCIAL TIMES MPs step up campaign to break up RBS MPs are stepping up their campaign for a break-up of Royal Bank of Scotland amid suspicions in Westminster that RBS and Treasury officials will try to scupper a good bank-bad bank split. In a letter in today’s Financial Times, the influential Parliamentary Commission on Banking [...]
Gold demand fell 15pc in 2013 on US recovery February 18, 2014 OVERALL gold demand slid by 15 per cent in 2013, despite 21 per cent growth in demand from consumers, according to a new report by the World Gold Council yesterday. Interest from the retail market was offset by large-scale outflows from exchange traded funds (ETFs) as confidence in the US economy improved, the report said. [...]
Crest of the wave March 16, 2014 Annabel Palmer talks strategy with UM’s Russell Place RUSSELL Place was a landscape gardener in Melbourne before he returned to London and delved into its fast-paced media world. Today, he is managing director at UM – a media and communications company whose clients include Microsoft and H&M. Place tells City A.M. about the transformation of [...]
What you need to know before the US open February 27, 2014 US markets are expected to open lower today, following European counterparts that have remained cautious because of the worsening situation in Ukraine. The FTSE lost almost one per cent this morning, dragged down by struggling bank RBS, which has shed almost ten per cent. Janet Yellen’s due to speak to the Senate later today – [...]
London’s west end tops list of pricey offices December 18, 2013 LONDON’S west end has unseated Hong Kong Central as the world’s most expensive office market, regaining the top spot it lost three years ago. The cost of renting an office in the west end has shot up by 14.3 per cent in the past year to $259.36 per square feet, driven by a squeeze in [...]
FTSE drops over Draghi’s lack of stimulus news – London Report December 4, 2014 BRITAIN’S top equity index fell yesterday largely due to a drop in commodity stocks and disappointment at a lack of concrete, new economic stimulus measures from the European Central Bank (ECB). The blue chip FTSE 100 index closed down by 0.6 per cent, or 37.26 points, at 6,679.37 points. The ECB slashed its growth and [...]
It doesn’t get more central than The Beecham in Covent Garden November 27, 2014 Covent Garden, that stretch of meandering streets off The Strand that culminates in the famous piazza, has been through every stage of London life. It started out, as many of the City’s suburbs did, as countryside, serving as gardens for Westminster Abbey. Then came its first gentrification phase when Henry VIII seized the land [...]
CNBC Comment: Russia’s economy looks set up for a fall March 3, 2014 DECADES of diplomacy ushered Moscow into the international tent. And in the interest of keeping the country inside, Western powers mostly seemed content to ignore Russian aggression across its borders and human rights violations within. But this not-so-Great Game of diplomacy only works when all sides are prepared to at least preserve the façade. Closer [...]