The Duke of Westminster has been knocked off his perch after more than a decade as the richest investor in UK property.
He’s taken the top spot in the Estates Gazette Rich List since it began in 2002, comfortably surpassing billionaires such as the pharmaceuticals scion Ernesto Bertarelli and the Swiss-based investors and private equity players, David and Simon Reuben.
Notice anything about this list? Like the two Chinese men that came out of nowhere to occupy first and second place? Neither of them appeared in the top 250 UK property investors last year. The third Chinese member of the top 10, Joseph Lau, is £550m richer than he was last year. But the wealth of the top 250 is so much greater – up 60% on 2012 – that he has fallen three places. Continue reading
Should it transpire, Frankfurt would likely be the winner as it’s slowly becoming the world’s new financial center. Paris only toes the German line.
Invetsment bank could switch European operations to Paris and Frankfurt
Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union.
The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. Continue reading
The six powers’ negotiating teams sat down in Geneva for resumed nuclear talks with Iran Wednesday, Nov. 20 in a haze of cautious optimism radiating from from Washington, Moscow and London about the prospects of the first accord to be signed with Tehran on a path toward resolving the controversy over its nuclear program.
Still, no one was laying bets on the deal, a preliminary accord providing six months for a comprehensive agreement to be discussed. Continue reading
(Reuters) – Thousands of staff across dozens of London’s financial firms will be put through a “war game” scenario on Tuesday to test how well they can handle a major cyber attack.
In one of the largest exercises of its kind in the world, the test dubbed “Waking Shark II” will bombard firms with a series of announcements and scenarios, such as a major attack on computer systems hitting stock exchanges and unfolding on social media. Continue reading
A railway tunnel underneath the Bosphorus Strait has been opened in Turkey, creating a new link between the Asian and European shores of Istanbul.
The Marmaray tunnel is the world’s first connecting two continents, and is designed to withstand earthquakes.
It was inaugurated on the 90th anniversary of the Republic of Turkey. Continue reading
Lithuanian Minister of National Defence Juozas Olekas together with other representatives from EU member states attended the seminar on European Burden Sharing and the Role of EU Battlegoups on 15 October in London (UK), Defence Ministry has informed.
“I believe the European Council in December will express its position on the future of EU Battlegroups. I expect strong political message that will echo the current level of ambition in committing to use EU Battlegroups,” the Lithuanian Minister of National Defence said. Continue reading
China’s growing success in internationalizing the RMB has both political and economic implications.
A Bank of International Settlements survey released on September 5 reveals that the renminbi (RMB) is now among the 10 most actively traded currencies in the world. This comes on the back of China’s recent draft plans to allow full convertibility of the RMB within the newly approved Shanghai Free Trade Zone (FTZ). Both events are intricately linked and are linked to deeper plans by the Chinese government to both internationalize the RMB and consolidate its influence and standing in global financial markets. This suggests that China’s global integration is no longer limited to trade, but is fast spilling over into the realm of finance. Continue reading
The Church of England has invested up to £10m in one of the world’s major arms firms, which supplies systems and technology for unmanned drones and jets to conflicts around the world. The discovery, on the eve of what is set to be the biggest day of protests against DSEi – the UK’s leading arms fair – in Docklands, London, tomorrow, has led worshippers to accuse church leaders of profiting from conflict. Continue reading
It doesn’t take a political genius to see how US Secretary of State John Kerry’s arrival in Amman Tuesday, July 16, for his sixth bid to bring Israelis and the Palestinians to the table, ties in with the new EU anti-Israel funding guidelines published on the same day. To avoid a head-on clash with Prime Minister Binyamin Netanyahu, the US president has loosed the Europeans in full cry against Jerusalem and its policies. European Union foreign affairs executive Catherine Ashton chairs the international negotiating forum with Iran. And so, the EU has given Tehran a broad wink that it is worth its while to come to a fresh round of nuclear diplomacy while Israel is kept on the run in the settlements-cum-borders dispute.
Israel is further weakened by its own internal political difficulties. Continue reading
An interesting proposition for the emergence of a distinctly northern European security arrangement has been circulating the airwaves: a UK-led initiative that would see London align security and defence policies in the Arctic in tandem with Sweden, Norway, Denmark, Finland, Estonia, Lithuania and Latvia. The goal is to establish a framework that addresses ‘common interests’ between each nation. This article is going to look at the possible architecture of such a structure, what its goals might be, and the reasons the UK has to begin this partnership. Continue reading
The European Union will seek on Friday to forge rules to force losses on large savers when banks fail, a sensitive reform that could shape how the euro zone deals with its sickly banks.
Finance ministers in Luxembourg will try to resolve one of the most difficult questions posed by Europe’s banking crisis – how to shut failed banks without sowing panic or burdening taxpayers. Continue reading
LONDON — Britain intends to establish a permanent military presence in the Gulf, the report said.
The Royal United Services Institute asserted that Britain seeks to restore military bases in Gulf Cooperation Council states. The London-based think tank said Britain was working to reach agreements for army, air force and naval installations. Continue reading