WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2011 FINANCIAL TIMES LI & FUNG UPBEAT OVER THE GLOBAL ECONOMY Li & Fung, the Hong Kong-headquartered sourcing company for retailers such as Walmart and Debenhams, sounded an upbeat note on Thursday, asserting that business conditions were “not at all” like those in 2008”, despite the current uncertainty over prospects for the global economy. Bruce Rockowitz, [...]
Weak banks help drive FTSE to three-month closing low June 15, 2011 BRITAIN’S top shares ended lower yesterday, weighed down by banks on worries over the UK government’s drive for tougher regulation and Europe’s debt crisis, while commodity stocks also pressured the index. The FTSE 100 closed down 60.58 points, or 1.0 per cent, at 5,742.55, its lowest finish since March 18. Banks fell ahead of chancellor [...]
London shops get wedding fever boost May 15, 2011 TRADING at London’s West End shops during April outperformed both last year’s figures and the rest of the country, as the extended bank holidays and Royal Wedding celebrations boosted footfall at the capital’s retailers. Sales at 600 stores on Oxford Street, Regent Street and Bond Street rose 7.6 per cent year on year, according to [...]
City honoured in the Queen’s birthday list June 12, 2011 BANK of England governor Mervyn King has topped a list of City figures recognised for their services to British business, banking and finance in the Queen’s birthday honours list. This year’s honours list is weighted heavily towards recognising the contribution of the City. This is partly due to it being seen as politically unpalatable for [...]
FTSE climbs as risk appetite returns June 14, 2011 London stocks are gaining ground this morning after heartening economic data from China led Asia to a positive finish overnight and boosted commodities. Energy and metals prices are rising after data showed China’s inflation rate remains high at 5.5 per cent. That rate was better than some expected, though, while retail sales data also showed [...]
UAE’s Axiom sells 35pc stake to Qatar’s Mannai June 16, 2011 AXIOM Telecom has sold a 35 per cent stake to Qatar’s Mannai Corp for an undisclosed amount after deciding against a London share listing, the Dubai-based mobile phone retailer said yesterday. The sale follows Axiom’s aborted initial public offering (IPO) last year, when it planned to list on the Nasdaq Dubai exchange by selling up [...]
UAE’s Axiom sells 35pc stake to Qatar’s Mannai June 16, 2011 AXIOM Telecom has sold a 35 per cent stake to Qatar’s Mannai Corp for an undisclosed amount after deciding against a London share listing, the Dubai-based mobile phone retailer said yesterday. The sale follows Axiom’s aborted initial public offering (IPO) last year, when it planned to list on the Nasdaq Dubai exchange by selling up [...]
BUREAUCRATS LOSE BROADGATE BATTLE June 14, 2011 VICTORY FOR CITY A.M. CAMPAIGN CULTURE secretary Jeremy Hunt will not save the Broadgate estate from demolition, City A.M. can reveal, marking a victory for our campaign against bureaucrats that wanted to protect the site. Hunt is expected to announce today that he is rejecting advice from conservation body English Heritage, which recommended that the [...]
BETFAIR’S IRON LADY IS ON HER LAST LEG July 31, 2011 FOUR down and one to go. No, not the number of top-level scalps claimed by the News Corp scandal, but the feats of endurance completed by Betfair’s Susannah Gill, the Iron Lady of the City, as part of her five-part “ultimate challenge” between April and September. Gill, who is making the original iron woman Margaret [...]
Wealth destruction the new normal August 23, 2011 WEALTH preservation is now the name of the game in the West. The challenge, for most people, is not to make more money: it is to try and preserve what they have. Declining equity and property prices, ultra-low interest rates, lowish pay rises, elevated inflation and increasing taxes are combining to squeeze nearly everybody. This [...]