Great Portland joins forces with Hong Kong Monetary Authority November 7, 2013 GREAT Portland has joined forces with Hong Kong’s central bank to develop a scheme that will sit next to Crossrail’s new Bond Street Station. The West End developer said yesterday it will sell properties that form part of Hanover Square in Mayfair to the joint venture fund, GHS Limited Partnership, for £202m. The Hong Kong [...]
Renminbi comes to Europe as central banks arrange swap line October 10, 2013 THE PEOPLE’S Bank of China (PBoC) announced yesterday that it has successfully inked a swap arrangement with the European Central Bank (ECB). The move represents the latest stage of the renminbi’s transition to an international currency, as the growth of China’s economy requires the expansion of the use of its currency. Although the currency is not [...]
London Report: Draghi QE hint sends banks and FTSE up but Antofagasta falls August 26, 2014 BRITAIN’S top equity index rose yesterday, with financial stocks outperforming, amid expectations of new economic stimulus measures from the European Central Bank. The blue-chip FTSE 100 index closed up by 0.7 per cent, or 47.51 points, at 6,822.76 points – its highest closing level since early July. As the FTSE was closed on Monday due [...]
There’s much more to the financial services industry than London November 20, 2013 THE FRUITS of Britain’s banking industry stretch well beyond the Square Mile and Canary Wharf. This morning, for example, I will be speaking to members of Manchester’s business community. When it comes to picking impressive banking hubs, you may not think of the northern city that gave us Thomas de Quincey, Emmeline Pankhurst and the [...]
City Matters: St Jude’s storm was a stark reminder why we need more transport investment November 3, 2013 ONE week on from the biggest storm London has seen in nearly thirty years, and the capital’s railways are back on track. The travel chaos was an uncomfortable reminder of how crucial the smooth running of London’s transport is to Londoners’ ability to go about their business. The two largest transport projects currently on the [...]
Forget a Bitcoin bubble: A wider crypto revolt is challenging everything | City A.M. December 13, 2013 FOR ALL the talk of a Bitcoin bubble, it’s easy to miss the real significance of what is currently happening. The rise of Bitcoin is just the beginning. Cryptocurrencies are no longer the domain of activists and grassroots movements, they are nothing less than “new money”. Many are waiting for the moment when a central [...]
Any other business – 27/09 September 26, 2013 From the mouths of babes: European Central Bank board member Jorg Asmussen offered a rare insight into the family life of a central banker yesterday, revealing a question from one of his daughters: “Dad, is your bank also evil?” Manchester City gained full bragging rights over their local rivals last weekend but there’s a chance [...]
Forget a Bitcoin bubble: A wider crypto revolt is challenging everything December 10, 2013 FOR ALL the talk of a Bitcoin bubble, it’s easy to miss the real significance of what is currently happening. The rise of Bitcoin is just the beginning. Cryptocurrencies are no longer the domain of activists and grassroots movements, they are nothing less than “new money”. Many are waiting for the moment when a central [...]
What the other papers say this morning – 19 November 2013 November 18, 2013 FINANCIAL TIMES Data reveals indebted generation The earnings of recent English graduates have deteriorated so rapidly since the financial crisis that the latest class is earning 12 per cent less than their pre-crash counterparts at the same stage in their careers. They also owe about 60 per cent more in student debt. These are the [...]
Letters to the Editor – 04/12 – Tube fare freeze, Best of Twitter December 3, 2013 Tube fare freeze A real terms transport fares freeze in January is welcome news. But TfL could continue to freeze fares at inflation in future years. It has an annual turnover just shy of £10bn and a capital investment programme in the tens of billions. Freezing fares at inflation for a year costs just £34m [...]