Letters to the Editor – 12/05 – Astrazeneca board, City jobs, Best of Twitter
Astrazeneca board
[Re: Why the government doesn’t need to protect Astrazeneca, Friday]
A sound and balanced piece by Roger Barker. I am somewhat impressed by the integrity shown by the Astrazeneca board so far in this bid. I sense that they have real belief in their strategy now that they are seeing evidence of recovery in the pipeline. Of course, the bullish update to investors last week may have been over-optimistic. But if I were a shareholder who didn’t need the cash this autumn, I would be seriously worried about what the consequences of a takeover would be on the potential delivery of this promise.
Name withheld
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City jobs
[Re: As Barclays announces job cuts, is investment banking in the UK in terminal decline? Friday]
Employment in financial and related professional services in London increased by 2 per cent in 2013. London has an international talent pool, with a high level of expertise in financial services. It’s home to over 250 foreign banks – more than New York, Paris or Frankfurt. In 2013, the UK had a leading 17 per cent share of global international bank lending. London remains Europe’s capital for investment banking, with an estimated 50 per cent share of activity, and remains the dominant European centre for prime brokerage.
Chris Cummings, chief executive, TheCityUK
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BEST OF TWITTER
Evidence of booming Britain. Road traffic just short of 2008 peak, annual growth strongest for 20 years.
@asentance
Zimbabwe wants to give central bank more policy powers, six years after hyperinflation. Is this shrewd?
@steve_hanke
Puerile martial bombast of Moscow May Day parade the clearest demonstration yet of Putin’s sad Soviet nostalgia, living in a memory bubble. It will pop.
@simon_schama
Russia inflation up to highest since May 2013 in April.
@RobertAlanWard