Osborne rips up planning rules March 3, 2011 GEORGE Osborne is pushing for sweeping changes to Britain’s planning regime as part of a package of low-cost measures designed to kick-start growth, City A.M. has learned. He wants to make it much easier for companies to obtain planning consent for new projects – even if they go against the wishes of local residents – [...]
Bailey: European contagion worry January 10, 2011 The spectre of contagion from European sovereign debt crises was raised by Bank of England official Andrew Bailey yesterday. Concerns have “intensified” over the past 12 months, he said. “So far, the threat has been limited,” he said, citing banks doing “the right thing” by building up capital and refinancing debt. “Stability is the most [...]
FTSE rises after upbeat Wolseley results outweigh bank dips and debt worries March 29, 2011 THE FTSE 100 rose moderately in light trade yesterday with support from miners and upbeat results from Wolseley outpacing falls in banks on European debt worries. The FTSE 100 climbed 27.68 points, or 0.5 per cent, at 5,932.17. The index regained more than 3 per cent the previous week following losses sparked by the earthquake [...]
Back in the black still not good enough January 18, 2011 THIS should have been a day of celebration. Citigroup, the bank that teetered on the brink during the crisis, turned a $10.6bn (£6.6bn) profit in 2010 – its first profitable year since Vikram Pandit took the helm in December 2007. But in the event it just wasn’t good enough. It missed expectations for profit quite spectacularly, posting fourth [...]
Back in the black still not good enough January 18, 2011 THIS should have been a day of celebration. Citigroup, the bank that teetered on the brink during the crisis, turned a $10.6bn (£6.6bn) profit in 2010 – its first profitable year since Vikram Pandit took the helm in December 2007. But in the event it just wasn’t good enough. It missed expectations for profit quite spectacularly, posting fourth [...]
HEADACHE FOR AVIVA INVESTORS OVER THEIR LIBYAN LANDLORD March 2, 2011 INTERESTING times at 14 Cornhill, the commercial property with a prime location opposite the Bank of England. Its owner has become embroiled in a little local difficulty involving global asset freezing. The Libyan Investment Authority (LIA), the sovereign wealth fund that administers the troubled country’s oil billions, has owned 14 Cornhill since December 2009, when [...]
Government savings boost outsourcers January 31, 2011 CONSTRUCTION and facilities management firm Mitie said it was well placed for profitable growth as the cash-strapped UK government looked to outsourcers to help it cut costs. Mitie, which provides cleaning, security and maintenance services for banks and law courts, said it expected earnings for the year ending 31 March to be in line with [...]
Government savings boost outsourcers January 31, 2011 CONSTRUCTION and facilities management firm Mitie said it was well placed for profitable growth as the cash-strapped UK government looked to outsourcers to help it cut costs. Mitie, which provides cleaning, security and maintenance services for banks and law courts, said it expected earnings for the year ending 31 March to be in line with [...]
Sindall chair plans growth February 22, 2011 CONSTRUCTION group Morgan Sindall painted a bleak picture of the UK building market yesterday but said it plans to increase its share of the shrinking market in 2011. Morgan Sindall posted a full-year pre-tax profit of £40.7m for 2010, missing consensus forecasts of £46.9m, on a five per cent fall in revenue to £2.102bn. The [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 22, 2011 FINANCIAL TIMES HSBC PROPOSES PAY SHAKE-UP HSBC is sounding out its shareholders on a proposed shake-up of its executive pay plans, which could see its top bankers unable to sell their stock until retirement. Driven by John Thornton, chairman of the bank’s remuneration committee and a former Goldman Sachs executive, the plans would see top [...]