What the other papers say this morning – 12 December 2013 December 11, 2013 FINANCIAL TIMES Nigeria’s missing $50bn oil cash A letter from the Central Bank of Nigeria suggests that the state oil company has failed to account for nearly $50bn in crude oil sold between January 2012 and July 2013 that should by law have been remitted to government coffers. The alleged shortfall amounts to 76 per [...]
Sterling slide boosts overseas demand for London property February 3, 2013 A WEAKER sterling has helped to boost demand for central London property among European buyers, according to data published today by Knight Frank. The property consultancy’s monthly report shows property prices in prime central London rose 0.4 per cent in January, as overseas buyers looking for a safe haven for their money continued to drive [...]
Great Portland wins consent at Rathbone Place October 16, 2013 GREAT PORTLAND Estates has won planning approval to go ahead with redevelopment of the Royal Mail’s old sorting office in what is expected to be one of the company’s largest and most profitable developments to date. Westminster Council approved plans on Tuesday night to redevelop the 2.3 acre site off Oxford Street and build 42,000 [...]
A more competitive UK won’t come from government targets November 12, 2013 GOVERNMENTS shouldn’t try to centrally plan economies. It is absurd for the coalition to have decreed that it wants UK exports to reach £1 trillion a year by 2020, for example. Of course, UK firms need to produce more; and of course in doing so they will need to sell more overseas. But plucking impressive-sounding [...]
SocGen analyst warns that central banks are ignoring housing bubbles amid market euphoria – just like in 2008 October 23, 2013 Many central bankers claim that they're making progress on the problems that caused the financial crisis – but Societe Generale analyst Albert Edwards doesn't believe them. He says that "exactly the same bozos who missed the last bubble deny there is one now." In November 2008 Queen Elizabeth II asked why "no-one saw it coming". [...]
City Moves for 08 October 2013 | Who’s switching jobs October 7, 2013 Cushman & Wakefield The property company has hired George Edwards as an associate in its London development team. Edwards was most recently at Lambert Smith Hampton, where he was an associate director and member of its investment advisory services team. Mayer Brown The law firm has appointed two partners to its banking and finance group in [...]
CNBC Comment: Romania risk hinges on euro fine print November 18, 2013 COUNTRIES once fell over each other to gain membership of the exclusive Eurozone club. But following four bailouts, the rich crowd now looks more like a liability. Romanian Prime Minister Victor Ponta’s face twisted into a wry smile when I asked him if he is waiting to see how the Eurozone appears in several years’ [...]
Culture and shopping in Shanghai and Hong Kong November 10, 2013 When Michelle Filmer went to China, she split her time between its two most vibrant cities. From luxury to history, she selects the top ten highlights of her visit 1. THE BUND The waterfront area in central Shanghai that runs along the west bank of the Huangpu river is known as The Bund. The west [...]
Central London homes given overseas boost May 30, 2012 OVERSEAS investors choosing London as a safe haven destination accounted for 75 per cent of the increase in prime central London residential prices relative to the rest of the UK, a new report shows. Foreign investors have poured into boroughs such as Knightsbridge and Chelsea since the mid-1990s and fears over the demise of the [...]
City Matters: Stable and predictable regulation is key to safeguarding the future of finance October 6, 2013 PARTY conference season has typically been a testing period for the City of London – and in particular for the banking industry – over the last few years. Thankfully, however, this year saw the focus shift at least partially away from bankers, as the spotlight turned towards other sectors that are currently public (and political) [...]