Culture dept to quit iconic headquarters August 12, 2010 THE Department for Culture, Media and Sport (DCMS) is quitting its iconic headquarters near Trafalgar Square and renting space in another Whitehall building, in an audacious bid to shave £10m from its annual budget, City A.M. has learned. The unusual move shows the lengths that cabinet ministers are going to in order to find departmental [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 25, 2010 THE SUNDAYS The Sunday Telegraph FUND CHIEF SLAMS OFWAT One of Britain’s leading investors in the UK’s water industry has said that Ofwat is “dysfunctional” and should be merged with the electricity regulator, Ofgem. Neil Woodford, leading fund manager for Invesco Perpetual, said that the water regulator did not understand the equity market and that [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 25, 2010 THE SUNDAYS The Sunday Telegraph FUND CHIEF SLAMS OFWAT One of Britain’s leading investors in the UK’s water industry has said that Ofwat is “dysfunctional” and should be merged with the electricity regulator, Ofgem. Neil Woodford, leading fund manager for Invesco Perpetual, said that the water regulator did not understand the equity market and that [...]
CITY MOVES | WHO’S SWITCHING JOBS August 23, 2010 Future Group The media business has appointed former ITN chief executive Mark Wood as chief executive of its UK business. Wood, who stood down from ITN last year, has been a non-executive director at Future since April 2009. He will leave the board on taking up his new post at the end of the month. [...]
HMV launches an iTunes rival July 26, 2010 RETAILER HMV is to taking on iTunes with the launch of a new music download service yesterday. The company will challenge its online rivals, including the American industry leader, Apple, with a launch promotion offering every single in the top 40 UK chart for 40p each. The new hmvdigital service has a catalogue of over [...]
BSkyB in £160m deal for Virgin Media channels June 4, 2010 BSkyB has agreed to buy Virgin Media’s basic channels as the two former fierce rivals develop strategies to compete with the soon-to-arrive free Internet-connected TV services. The satellite group BSkyB will pay up to £160m cash to expand its portfolio of basic pay TV channels, which will include Living, Bravo and Virgin1. It will also [...]
BSkyB in £160m deal for Virgin Media channels June 4, 2010 BSkyB has agreed to buy Virgin Media’s basic channels as the two former fierce rivals develop strategies to compete with the soon-to-arrive free Internet-connected TV services. The satellite group BSkyB will pay up to £160m cash to expand its portfolio of basic pay TV channels, which will include Living, Bravo and Virgin1. It will also [...]
PERSONALITY OF THE YEAR August 30, 2010 IT’S been another tough year in the City. Stock markets are still nervy, the recovery is by no means secure and a double-dip is on many people’s cards. But it is hard times that form characters. Our five nominees for Personality of the Year have proved their mettle over the past 12 months. One is [...]
Bank must restore its credibility August 10, 2010 OF all the people who regulated (or failed to regulate) the financial services industry throughout the banking crisis, Bank of England governor Mervyn King has emerged as the man whose authority has perhaps been most enhanced. Going into the crisis with an institution that sets monetary policy and general supervision, he will emerge, thanks to [...]
MARKET NEWS August 4, 2010 SOCGEN OFFERS NINE NEW WARRANTS This week saw the launch of nine new covered warrants from Societe Generale. Four are cocoa call warrants; the rest are divided between two dollar-Swiss franc put warrants that expire in December and three copper put warrants. Meanwhile, RBS Markets has launched two new products: one is the UK Accelerated [...]