News

Your daily news update straight from the City PM newsroom in London

Turnaround force tasked with rescuing JAL as it slashes jobs and subsidiaries

October 25, 2009

JAPAN AIRLINES (JAL), the ailing carrier which is getting a massive handout from the Japanese government, will be run by a state-owned body in charge of turning it around, it emerged over the weekend. The airline is striving desperately to avoid bankruptcy, seeking aid from banks and the government. Liabilities at the carrier would exceed [...]
CITY MOVES WHO’S SWITCHING JOBS

October 25, 2009

AvivaThe insurer has appointed Patrick Regan as its new chief financial officer, effective from February next year. Regan is currently group chief operating officer and chief financial officer of Willis Group Holdings, the insurance broker. He has also previously held positions within the industry as group financial controller at RSA and as finance and claims [...]
Campari’s chief is taking a breather before returning to the M&A trail

October 25, 2009

Having forked out a cool $2bn (£1.2bn) on 16 separate acquisitions over the past 15 years, it is no wonder that Campari – the world’s sixth largest drinks firm – is now calling for a temporary halt to the spending. Its chief executive, Bob Kunze-Concewitz, recently struck a cautious note due to the downturn that [...]
On women, work and savoir faire

October 25, 2009

MEETING the author of French Women Don’t Get Fat, the bestselling diet book, is a rather daunting prospect for someone who is neither particularly thin nor remotely French – certainly not when it comes to Gallic standards of stylishness. I expected Mireille Guiliano to be scary – judgmental, fearfully immaculate and devastatingly tiny. I was [...]
We find the City thrilling and we know you do too

October 22, 2009

BUSINESS is exciting: the cut and thrust of a huge deal; the terror when things start to unravel; the knowledge that agreements made in a Square Mile office have global implications. That’s why we’ve always believed that business news should reflect this, that it should be punchy, brash, colourful and loud. We find it thrilling [...]
The tributes pour in as City PM gets to 1,000

October 22, 2009

GORDON BROWNPrime Minister“Congratulations to City PM on reaching a thousand editions. Your paper has kept both Westminster and the City informed at a time of great turbulence in the world economy.” SIR VICTOR BLANKFormer chairman, Lloyds Banking“City PM has developed into a quality newspaper which sparks boardroom debate with its insight and analysis. It is [...]
The City’s biggest names read City PM every day

October 22, 2009

SIR RICHARD BRANSONVirgin“Well done to the team at City PM on reaching your 1,000th edition – it is an impressive achievement in an industry almost as tough as the airline one.” AMANDA STAVELEYCEO, PCP“Well done City PM on reaching this important milestone. Whenever I’m in the UK I try to see a copy. You report [...]
We’re never afraid to blaze a trail

October 22, 2009

City PM has broken some of the biggest business stories since we launched, moving markets, forcing companies to reveal their intentions before they would have liked and causing rows in the corridors of the Bank of England and the Treasury. Here we remember a few of our best. THE TAX EXODUS BEGINSBack in April 2008, [...]
Gossip, intrigue and a whole lot of City fun

October 22, 2009

OUR diary page, The Capitalist, has also had its share of stories to get the City talking this year. Just last week we led the way with the coverage of Carphone Warehouse tycoon Charles Dunstone’s wedding, revealing all the juicy details, including the fact that Jools Holland had been lined up to entertain guests at [...]
BILL OF THE YEAR

October 22, 2009

THE City may have been suffering this year, but if our popular Bill of the Week feature is anything to go by, opulence is certainly not dead. This little beauty – racked up in the depths of the gloom in early February – was the result of four businessmen taking their wives out for a [...]