UK needs flexible immigration to lure talent May 23, 2010 AS THE political dust kicked up by the election settles and the financial reform agenda takes shape, it is clear that the City lies at a crossroads. Although we wish to ensure the UK remains home to a world-leading financial services sector, and an excellent place to work and live for future generations, there is [...]
Obama’s bank reformer says UK should copy US bank rules May 13, 2010 PAUL Volcker, the 82-year-old adviser to Barack Obama on financial regulation, held a meeting yesterday at the Bank of England at which he is believed to have advised the governor of the need to rein in UK banks in the name of reducing risk in the financial system. Minutes before dashing to a meeting with [...]
Government reforms should not damage City May 9, 2010 THIS election campaign was one of the most keenly contested and significant – both for the City and the UK – in recent generations. At the time of writing the composition of the next government is uncertain, but the issues affecting the economy and financial services industry remain far more clear cut. I hope the [...]
All sides lose out in bloody election scrap May 7, 2010 ALL sides suffered heavy losses in an election none of the main parties will remember fondly. While there was no “Portillo moment” a number of senior scalps fell during the gruelling battle. Former home secretary Jacqui Smith was the most high profile victim. She suffered a humiliating defeat in Reddich, with Tory candidate Karen Lumley [...]
BIG CURRY FETCHES A FORTUNE FOR ARMY April 29, 2010 OFF to the Guildhall yesterday for the Lord Mayor’s annual “Big Curry”, a Bacchanalian feast in aid of ABF The Soldiers’ Charity. City types in attendance dug deep into their pockets for Britain’s brave soldiers – the event’s committee featured such business luminaries as Lloyd’s of London chairman Lord Levene, Bernard Cazenove, Sir Trevor Chinn [...]
OUT OF OFFICE April 28, 2010 SAMSONITE POP-UP AT HARRODS Call yourself a travel buff? Like a good suitcase as you swish through the business lounge at Heathrow? Then pop along to Harrods where this massive luggage brand is celebrating its centenary with a showcase of the brand’s evolution, from rare vintage cases, collectors’ items from the 20s and 30s through [...]
Banking needs global agreement and rules April 25, 2010 THE INTERNATIONAL Monetary Fund’s recent report on how the financial sector could make “a fair and substantial contribution” towards the cost of any future bailouts surprised many commentators by outlining two new levies, rather than the one expected. The “Financial Stability Contribution” is essentially a flat rate bank levy on balance sheets, specifically their liabilities, [...]
CITY OUT IN FORCE FOR MARATHON SUNDAY April 25, 2010 TENS of thousands of runners completed the London Marathon yesterday, braving 26 miles of light rain showers to get round the gruelling course. As usual, the business world’s athletic contingent did themselves proud in the race, including Sir Richard Branson, who made it round in just over five hours to celebrate Virgin’s first year sponsoring [...]
Curry king who spiced up UK April 22, 2010 ESCAPING the poverty net inspired Sir Gulam Noon to go into business. He lived with his five siblings in one room when he was growing up in Mumbai, India, but is now the UK’s unofficial curry king, after amassing his fortune by selling the food of his native country in the UK. After first travelling [...]
UK fly ban criticised as an over-reaction April 20, 2010 LAST night’s decision by the authorities to re-open Britain’s airspace was yesterday criticised by the aviation industry and London Mayor Boris Johnson for being “too little, too late.” The six day suspension has left hundreds of thousands stranded and caused severe damage to the economy. British Airways chief executive, Willie Walsh, said he was pleased [...]