Wimbledon prize money: Andy Murray and Milos Raonic go head-to-head for £2m earnings boost July 10, 2016 Both Andy Murray and Milos Raonic can pocket the biggest prize of their career to date with victory in the Wimbledon men's singles final today. This year's champion will receive £2m, making it the richest men's final in the competition's history. The loser gets to console himself with a £1m pay cheque — the first time the All England Club has offered the runner-up a seven [...]
BlackRock buys PwC offices in Uxbridge from Aviva for £59m August 25, 2015 FUND manager BlackRock said yesterday that it has bought an office building in west London for £55.9m from Aviva Investors. The Atrium in Uxbridge is a 138,000 square feet (sq ft) office block let to companies including American oil and gas firm Anadarko and accountants PwC. Blackrock said the deal offers a net initial yield [...]
Theresa May’s industrial strategy isn’t about picking winners – but taking control of Britain’s economic destiny post-Brexit November 1, 2016 Purists likely shuddered at Theresa May’s commitment to a “proper, modern industrial strategy” as she reshaped the Business Department in July. Three decades of free market orthodoxy have convinced many business folk that a fully-fledged plan for industry represents a throwback to the 1970s, a decade when sickly British Leyland came to symbolise all that [...]
City Moves for 1 August 2016 | Who’s switching jobs August 1, 2016 Independent Oil and Gas Independent Oil and Gas has appointed David Peattie as chairman. David has 35 years’ industry experience and was most recently the CEO of Fairfield Energy, an oil & gas company owned by a syndicate of North American and European private equity investors, led by Riverstone and Warburg Pincus. David began his [...]
Live: The spring of shareholder discontent – Weir Group sees renumeration policy struck out, with only 27.6 voting in favour April 28, 2016 It's springtime, but executives may have felt a chill in the air as they headed off to their companies' AGMs this morning. Hermes Investment Management has said that it opposes the appointment of former chief executive Michael Dobson to the role of chairman at Schroders, remarking that such a move would undermine corporate governance. Although the measure [...]
RSA hoping for better offer as bidders Zurich, Axa and Aviva circle August 2, 2015 Insurer RSA is hoping to attract a better offer than Zurich’s potential bid, revealed last week, with several other companies believed to be interested in entering the race for the troubled British firm. City analysts expect Zurich to make an offer of around 550p per share. That price would provide investors with a premium [...]
At the close: Sterling and stocks break apart July 5, 2016 In yet more proof the stock markets and the UK economy don't always move in lock-step, the FTSE 100 jumped today, while the pound slumped, and signs of a post-referendum slowdown grew. The index of the UK's top 100 companies started the day down as it looked like the post-referendum bounce was drawing to a [...]
The Great Fire of London made the city an insurance hub – here’s what we need to do to maintain that status September 2, 2016 This week we’re marking the anniversary of one of London’s defining events: the Great Fire of London, which ravaged the city at the start of September 1666. It was started by nothing more than a fire from an overheated oven at a baker’s shop near London Bridge. The damage was immense. The Association of British [...]
At the close: FTSE 100 climbs out of the Brexit bloodbath after major losses in recent sessions June 28, 2016 The FTSE 100 bounced back today, as investors bought back into a market that had been heavily sold off in previous sessions. Just nine stocks finished in negative territory, pushing the blue-chip index up by 2.6 per cent to 6,140.39 points. Falls of over five per cent in the last two sessions had wiped nearly £100bn in value of from company market capitalisations. Insurers [...]
Markets poised for crunch interest rate move from Bank of England August 4, 2016 Markets are standing by this morning for the Bank of England to take interest rates to a record low later today – and the nerves are showing. Sterling is falling ahead of the announcement and the FTSE 100 has also eased back as traders assess just how much fuel the Bank of England will throw onto the [...]