Quindell share price edges up as it warns: “We definitely haven’t appointed a chairman yet” January 9, 2015 Shares in troubled insurance outsourcer Quindell edge 3.5 per cent higher in late morning trading after it issued a statement denying press speculation that it had appointed a chairman. However, the company added that "discussions are taking place with individuals", although "there can be no certainty that any appointment will be made imminently". Shares in [...]
Bank of England keeps interest rates at 0.5 per cent for 70th month in a row January 8, 2015 The Bank of England's monetary policy committee (MPC) kicked off 2015 by keeping the base rate at 0.5 per cent. It's the 70th consecutive month rates have been held at historic lows, and the last rise was way back in March 2009. We'll have to wait until January 21 to find out who voted for [...]
Falling inflation set to prevent rate hike today January 7, 2015 CITY A.M.’s panel of economists have voted in favour of keeping interest rates at record lows of 0.5 per cent. Bank of England (BoE) officials will announce their latest decision at 12 noon today. The main concerns among our shadow monetary policy committee were inflation, growth and uncertainty. Inflation dropped to one per cent in November [...]
Quindell share price soars 29.6pc as hedge fund Toscafund ups stake January 7, 2015 Insurance outsourcer Quindell saw it share price surge 29.6 per cent in trading yesterday after London-based hedge fund Toscafund increased its shareholding in the company. The Martin Hughes-founded Toscafund splashed out on a further 1.9m Quindell shares, bringing its stake in the Hampshire-based company to more than five per cent. It was the second bit [...]
Quindell share price jumps after hedge fund beefs up stake January 7, 2015 Shares in troubled insurance claims processor Quindell rose as much as 15 per cent this morning, after hedge fund Toscafund increased its stake in the company. Toscafund bought an extra 1.9m shares, bringing its overall stake in the company to over five per cent. Last week Quindell revealed it had entered into exclusive talks with an [...]
Bank of England financial crisis files: Crash pushed regulators to the brink January 6, 2015 The Bank of England was pushed close to breaking point during the financial crisis, according to previously unseen documents published today, with staff exhausted and bosses struggling to keep up with the pace of events. Officials repeatedly underestimated the scale of the crash, hoping the steps taken to address each problem – such as the [...]
Bank of England minutes: New documents reveal flaws in financial crisis response January 6, 2015 The former directors of the Bank of England (BoE) have come under heavy fire after minutes of meetings from the time of the financial crisis released today revealed it suffered from a lack of transparency as well as “groupthink”. “The Bank appears to have been a very hierarchical organisation, with clear signs of ‘groupthink’ among [...]
Bank of England financial crisis minutes: BoE dubbed “the angel of death” by City watchdog January 6, 2015 At the peak of the crisis, the City watchdog was so scared that a lender’s discussions with the Bank of England could cause a run on that lender, it dubbed the Bank: “The angel of death.” Throughout the financial crisis, the Bank of England had to tread a careful line between propping up failing parts of [...]
Bank of England minutes: More light to be shed on BoE’s financial crisis response January 4, 2015 Minutes from meetings of the Bank of England’s directors between 2007 and 2009 are due to be released this Wednesday. The minutes should shed further light on the central bank’s response to the financial crisis which involved cutting its policy rate to a record low of 0.5 per cent and embarking on an ambitious and [...]
Quindell share price jumps 16 per cent as it confirms plans to sell part of its business January 2, 2015 It looks as though Quindell is making an early start to its new year's resolutions. Shares in the troubled insurance outsourcer jumped more than 16 per cent in mid-morning trading after it confirmed this morning it has entered into exclusivity arrangements with a third party to dispose an operating division in order to improve its [...]