CPP shares slump on profit warning and probe worries December 12, 2011 SHARES in CPP Group plunged by nearly a sixth yesterday after the credit card insurer said a regulatory probe would drag down profits. Its stock closed at 117p last night, down 15.83 per cent, 21 months after listing at 235p. The group said it does not know how long the Financial Services Authority will spend [...]
Credit Suisse: banks to get liquidity aid November 28, 2011 THE BANK of England will need to restart and extend its liquidity support schemes for the UK’s biggest domestic banks as they face a wall of £76bn in maturing debt next year, according to research by Credit Suisse. Analysts led by Carla Antunes da Silva suggest that the UK’s “relatively safe haven status” could prompt [...]
A £2bn tax cut shouldn’t be sniffed at December 6, 2011 CREDIT where credit is due. We are always quick to criticise the fiddly micro-measures so beloved by the Treasury, mere baby steps that do nothing to boost the competitiveness of UK Plc. But when it comes to corporation tax, the coalition has made great strides. By 2015-16, the exchequer will collect some £2bn less in [...]
Deutsche wins broking tie-up with Barclays December 6, 2011 BARCLAYS has ditched JP Morgan Cazenove as one of its broking advisers, replacing it with Deutsche Bank. Deutsche, which has been building up its UK broking business in recent months, has a strong financials team that is already advising Phoenix, the life assurance group, and Bank of Ireland. The German bank has also picked up a [...]
Deutsche wins broking tie-up with Barclays December 6, 2011 BARCLAYS has ditched JP Morgan Cazenove as one of its broking advisers, replacing it with Deutsche Bank. Deutsche, which has been building up its UK broking business in recent months, has a strong financials team that is already advising Phoenix, the life assurance group, and Bank of Ireland. The German bank has also picked up a [...]
Why the debate has gone all wrong February 5, 2012 PART of the problem in Britain today is that public debate is taking place in a fact-less vacuum. People have no interest in what is really happening to investment bankers’ pay and prefer to ignore the regulatory revolution across all of finance, including banking, fund management, private equity, trading, accountancy and insurance. Take pay: as [...]
DRAFT FINANCE BILL: KEY POINTS December 6, 2011 ● R&D TAX CREDIT: HM Treasury has introduced a “patent box” – a reduced corporate tax rate of 10 per cent for earnings from patented products, which is aimed at encouraging innovation in science and tech. ● NON-DOMS: Non-doms will get tax relief on cash they bring into the country to invest in UK companies, [...]
Bailed-out Dexia reveals €6.3bn loss on Belgian and Greek arms November 9, 2011 STRICKEN Franco-Belgian bank Dexia reported a one-off €6.3bn (£5.36bn) loss in the third quarter as its break up continued. It faced costs of €4bn on the nationalisation of Dexia Bank Belgium and a loss of €2.3bn on its holdings of Greek government debt. The group, which last month received a €90bn bailout, yesterday also listed [...]
BEHIND THE SCENES FOR OSCAR HIT’S LEGAL FIXER February 7, 2012 PAUL RENNEY, a lawyer at Keystone Law, almost collected the Bafta for The King’s Speech – except the film’s producers were faster out of their seats than he was. Renney, as the hit’s legal adviser, was a stand-in at the event for screenwriter David Seidler, who was “annoyed” at not being flown over from the [...]
The music stops for UK breaks on bankruptcies January 25, 2012 THE singer Kenny Rogers once sang “you’ve got to know when to hold ‘em, know when to fold ‘em, know when to walk away, know when to run”. While Rogers was singing about a gambler, he could just as easily have been singing about the Irish people’s attitude to their bankruptcy regime. Increasingly the people [...]