News

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

Germany warned over Opel aid

August 31, 2009

The European Commission yesterday sent a warning to Germany on the provision of state aid to General Motors’ European arm Adam Opel, whose future may hinge on billions of euros in funding from the German government. Aid that served national interests could breach European rules, the commission said. The commission’s comments came after questions about [...]
Germans call on G20 to cut fiscal deficits

August 31, 2009

GERMANY has called for agreement from members of the G20 summit in London on ways to back away from fiscal measures put in place to fight the global financial crisis. “It is of vital importance that we develop internationally coordinated exit strategies,” wrote German finance minister Peer Steinbrueck, in a letter to fellow G20 finance [...]
London homes in monthly price rise

August 31, 2009

HOUSE prices in London rose by 0.3 per cent over August on the back of a dwindling supply of homes for sale. Hometrack’s national housing survey showed higher price tags in London, the south east and East Anglia, with London’s average price rising to £275,300, although year-on- year prices showed a 6.7 per cent fall. [...]
Nomura wins six year holiday

August 31, 2009

JAPANESE bank Nomura has won a six year rental break on its new headquarters at Thameside complex Watermark Place. The bank will today sign for the 525,000 sq ft development in what is the biggest City property deal this year. Nomura will not be paying any rent for 70 months until 2015, the bank confirmed [...]
SLICK MERGER FOR OIL FIRMS

August 31, 2009

US OIL SERVICES company Baker Hughes announced yesterday it was buying rival BJ Services in a deal worth $5.5bn (£3.3bn) after the two companies’ boards approved the deal. Baker Hughes chairman Chad Deaton (pictured) yesterday said the merger would be gradual, but will result in $75m in savings next year.
Sony tie up with Google Chrome

August 31, 2009

Google, owner of the most popular Internet search engine, yesterday announced it has reached an agreement with Sony to have its Chrome web browser pre-installed on some personal computers. The deal with the group is part of its efforts to make its little-used Chrome more accessible. Google is also believed to be in talks with [...]
Fuel duty hiked by two pence

August 31, 2009

Motorists will wake up to a two pence rise in fuel duty this morning, the third increase in nine months. When VAT is included the rise will actually total 2.3p – taking the average price of petrol across the UK to about 105p per litre. The Treasury is planning five more tax rises worth more [...]
City PM on holiday until Tuesday September 1st

August 21, 2009

City PM editorial staff are taking a well earned break this week. The next issue of the newspaper is out on Tuesday September 1st when the online news stories will also be updated. In the meantime we will be working very hard on the backend of the site bringing you even more news, features and [...]
NEW SUNDAY TELEGRAPH BUSINESS EDITOR ON STEEP LEARNING CURVE

August 20, 2009

AS A replacement for Sky’s newest business recruit Mark Kleinman, a man with one of the fattest contact books in journalism, the appointment of Kamal Ahmed as Sunday Telegraph business editor was never going to sit well with his jilted rivals. Ahmed, currently head of comms at the Equality and Human Rights Commission and a [...]
Nomura hit by lawsuit

August 20, 2009

A LONDON headhunter is seeking “a commercially absurd sum” in a legal spat over how Nomura kept star bankers as part of its takeover of Lehman Brothers in Europe, the Japanese bank said yesterday. Documents filed at London’s High Court show there is a dispute between Nomura and Hogarth Davies Lloyd. “There is a dispute [...]