BORIS: ORGY OF CITY BASHING MUST STOP June 16, 2009 LONDON Mayor Boris Johnson yesterday leapt to defend the financial services industry, arguing that politicians and the City needed to be “far more vociferous” in opposing regulations dictated by the European Union. Speaking at the Confederation of British Industry’s (CBI) annual summer lunch, Johnson said: “It is crazy that we are so passively and supinely [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 16, 2009 THE SUNDAYSThe Sunday TelegraphBAE WARNS OF CREDIT THREAT TO SUPPLIERSBAE systems has warned that its supply chain is at risk from suppliers failing to obtain adequate credit. The defence giant is supplied by tens of thousands of smaller manufacturers that are far more vulnerable to the funding squeeze than the company itself. BAE has a [...]
Darling squares up to EU over regulatory powers June 7, 2009 CHANCELLOR Alistair Darling faces a fight with European counterparts tomorrow over his opposition to any new pan-European regulator having executive power over the UK’s financial institutions. Darling is in favour of an EU-wide supervisory body that would identify and warn of systemic risks in the European banking sector. But at tomorrow’s Ecofin meeting of European [...]
Hedgies could leave Britain June 3, 2009 LONDON’S hedge fund managers have told the Treasury that they will be forced to quit the UK unless proposed European legislation is altered significantly. Hedge fund managers gathered en masse at the Treasury earlier this week to coordinate the fight back against the plans to crack down on the alternative investment industry. According to a [...]
Hedgies could leave Britain June 3, 2009 LONDON’S hedge fund managers have told the Treasury that they will be forced to quit the UK unless proposed European legislation is altered significantly. Hedge fund managers gathered en masse at the Treasury earlier this week to coordinate the fight back against the plans to crack down on the alternative investment industry. According to a [...]
Lawson: The Tories need to find the bottle to cut public spending July 2, 2009 FORMER chancellor Lord Lawson is feeling hot under the collar. It’s not just because he’s finished delivering a lecture in a stuffy, airless room at the London Stock Exchange. He’s also fed up with travelling on the underground in the sweltering heat. “The problem with the tube is not so much the heat,” he tells [...]
Opel talks stall as job row looms May 27, 2009 GENERAL Motors was last night locked in talks with German chancellor Angela Merkel, US government representatives and potential bidders for GM’s European Opel unit, in an effort to rescue the division, even as a row over likely job losses was brewing. The talks in Merkel’s Berlin office were focused on identifying the best bidder of [...]
ABI: there is still faith in City bosses June 8, 2009 PUBLIC fury over the financial crisis and “fat cat” bonuses has failed to derail confidence in bosses at the City’s major companies, the Association of British Insurers (ABI) will claim today at its biennial conference. The ABI will unveil the results of a major national survey on economic sentiment suggesting that the majority of people [...]
POOR SIR FRED June 18, 2009 SIR FRED Goodwin, the former chief executive of Royal Bank of Scotland, is to hand back nearly a third of the £555,000-a-year pension he was awarded on leaving the bank. Goodwin will now take home £342,500 a year, or a total of £9m, after a deal was hammered out between RBS, the Treasury and UK [...]
POOR SIR FRED June 18, 2009 SIR FRED Goodwin, the former chief executive of Royal Bank of Scotland, is to hand back nearly a third of the £555,000-a-year pension he was awarded on leaving the bank. Goodwin will now take home £342,500 a year, or a total of £9m, after a deal was hammered out between RBS, the Treasury and UK [...]