Double-dip is avoided but growth weak April 6, 2010 BRITAIN has managed to avoid the dreaded double-dip but the recovery remains weak and still faces serious risks, the British Chambers of Commerce (BCC) will say today in its first quarter economic survey. Encouragingly, the results show that the performance of the services sector is improving with most indicators now positive and making gains on [...]
Australia raises interest rates April 6, 2010 AUSTRALIA’S central bank has raised interest rates to 4.25 per cent from four per cent as it attempts to slow inflation and rises in house prices. The move is the fifth rate rise since October, and the bank has indicated there are further increases to come. Glenn Stevens, the Governor of the central bank, said: [...]
CITY MOVES | WHO’S SWITCHING JOBS April 28, 2010 HSBC Private Bank The private bank has appointed Daniel Ellis as a managing director and head of the private bank investment group for the UK and Channel Islands, based in London. Ellis is currently head of structured products for HSBC Private Bank Suisse, having joined the group in 2001 to help build the ‘over the [...]
Hugh Osmond bidding for UK building firm April 25, 2010 PIZZA-to-pubs entrepreneur Hugh Osmond has made a takeover offer for Crest Nicholson that values the UK housebuilder at £300-350m. Horizon Acquisition, Osmond’s quoted vehicle, put the takeover plan to a meeting of Crest’s 40 owner banks on Wednesday. The potential deal is part of bold plans by Osmond to consolidate the recession-hit housebuilding sector. According [...]
UK needs flexible immigration to lure talent May 23, 2010 AS THE political dust kicked up by the election settles and the financial reform agenda takes shape, it is clear that the City lies at a crossroads. Although we wish to ensure the UK remains home to a world-leading financial services sector, and an excellent place to work and live for future generations, there is [...]
There is value to be found in private equity May 19, 2010 AFTER two years in the investment wilderness listed private equity companies have emerged fresher, leaner, less debt-ridden and ripe to outperform the overall stock market, according to some analysts. Traditionally private equity houses tend to be a good play on a cyclical economic recovery. Their share prices should rise when their portfolio companies start to [...]
Slow growth: the UK’s fate for 2010 June 2, 2010 THERE are many problems facing the UK economy – inflation is far too high, the crisis at BP, which accounts for one pound out of every seven paid out in dividends in the FTSE 100, is trashing the stock market, while the belt-tightening about to be announced at the emergency budget will include destructive measures [...]
Start-ups secure funding as recovery kicks in April 26, 2010 For those of us on the ground building businesses, a new reality is emerging as the recovery sets in. Ariadne has won funding for five companies in 2010 including Everyclick, which has secured a hefty sum from new and existing investors. Why are so many start-ups getting funded – in our portfolio and elsewhere – [...]
European bank stress tests were too soft, analysts say July 25, 2010 LONDON’S stockmarket will give its verdict on the European Union’s bank stress tests today after analysts warned they were not tough enough to give investors real confidence. Only seven of the 91 institutions investigated failed to meet the capital requirements demanded by the Committee of European Banking Supervisors under three “economic shock” scenarios. Five Spanish [...]
Duke street snaps up debt collection agency April 6, 2010 Duke Street, the mid-market private equity group, has acquired a 58 per cent stake in debt collection group Marlin for an undisclosed sum. Marlin specialises in collecting from wealthy debtors, with “litigation quality” arrears that can be recouped through the courts. Duke Street partner Miles Cresswell-Turner said: “Marlin has the potential, with funding and operational [...]