Results tagged “recession”
Barclays recorded a big jump in profits last year despite the recession.
The bank posted a year-end profit of £11.6billion before tax, an increase of 92 per cent on its 2008 figure. Most of that came from the £6.3billion sale of Barclays Global Investors and a strong performance from investment arm Barclays Capital.
By Jim Fitzpatrick
I've been recovering from the operation I underwent in December, and getting back in the swing of things.
Anyone who has had a similar experience will know it takes time to climb back to full health, and I appreciate the understanding of all those who've contacted me since the operation.
Whisper it quietly, but there are some promising signs for the capital's economy.
After a 2009 of fiscal woe, reports are starting to suggest that although the future is still fragile, business is beginning to recover.
The word "change" sounds alarm bells in the heads of worried employees.
It's a feeling of concern exacerbated by the recession when the word "change" is invariably linked to the words "job losses".
Chancellor of the Exchequer Alistair Darling was in Canary Wharf this morning and used the opportunity to criticize the return of the bonus culture.
Mr Darling singled out Goldman Sachs, which reported bumper profits last week, saying it sent out the "wrong signals" with huge pay awards.
The recession is still with us but one Wharf-based bank is already working with its customers to prepare for the economic upturn.
Carol Bagnald is the London regional director of HSBC's commercial banking team and she believes this is the perfect time for SMEs to reorganize and prepare for the end of the downturn.
By Jim Fitzpatrick
One of the worst things to have to countenance in life is home repossession.
The Wharf's readers might be interested to learn of a new national campaign to help struggling homeowners take control of their finances and make the most of the support available for them to avoid repossessions and stay in their homes.
The Financial Services Authority has defended its performance last year in its newly published annual report.
The Canary Wharf-based financial regulator endured a torrid time in 2008 with the onset of recession and the near-collapse of the banking system.
By Jim Fitzpatrick
We're living through amazing times in the political arena at the moment. MPs' expenses and ministerial resignations have dominated the news.
I've redoubled my efforts to show my constituents that my main motivation is their welfare and quality of life. Other MPs share that sentiment.
Present and future entrepreneurs should embrace the unknown to lift the gloom of the recession.
Designer Wayne Hemingway was among the speakers calling for a boost in business creativity during a fashion, photography and entrepreneurship event in Canary Wharf.
The financial crisis has shaken the public's faith in banks, governments and their own security.
However, Spectator Business editor and former investment banker Martin Vander Weyer doesn't believe it's time to look into a "wacky alternative" to capitalism.
"Advertising is a game of optimism and I remain cautiously optimistic."
As you might expect from an advertising guru Gary Leih has a tag line when it comes to selling the end of the recession.
Live from the G20 summit
If Gordon Brown is dumped by the electorate at the next election - and it remains the most likely prospect - he will at least be able to bounce his children on his knee and tell them he played a role in shaping history.
Robert Peston gave the lowdown on the slowdown with an entertaining talk at a business reception in Canary Wharf last night.
The BBC business editor, who has become something of an economics guru recently, enthralled a gathering of east London business brains as he gave his personal perspective on the crisis.
Canary Wharf Group chief executive George Iacobescu has warned the current financial crisis may linger beyond 2011.
The high-profile Wharf figurehead predicted the upheaval may “last for three or four years� in a recent interview with a Romanian journalist.
WHARFERS are feeling the squeeze but fears of a full-blown recession are premature according to one economist.
Although the economy is slowing down, it is not in recession, and nor is it likely to be any time soon, according to Dr Tim Leunig, a leading economic historian at the London School of Economics.
