Currie to head antitrust body … July 17, 2012 FORMER Ofcom boss Lord Currie has been chosen as the first chair of the Competition and Markets Authority – the UK’s new antitrust regulator. Currie will earn £185,000 a year for the three-day a week commitment, serving as chair of the body for a four-year term beginning this summer. The CMA is part of the government’s [...]
CITY VIEWS SHOULD THE GOVERNMENT RETHINK ITS CHARITY TAX RAID? April 16, 2012 DIEGO SHIN K&L GATES Yes. The plans are obviously going to have a big effect on the ability of charities to source funds. Whether there will be an ever broader social impact remains to be seen. ANDRE GOOCH LLOYDS BANKING GROUP Yes. Personally, I don’t think this is a good thing for the government to [...]
CITY MOVES | WHO’S SWITCHING JOBS March 21, 2012 Ashurst The leading international law firm has announced that James Collins has been appointed as managing partner, with effect from 1 May 2012. Collins trained at Ashurst and became partner in 2005. He is currently a banking partner in Paris, with particular expertise in cross-border acquisition finance and restructuring transactions. He succeeds Simon Bromwich, who [...]
CITY VIEWS: ARE YOU WORRIED ABOUT SHOPS FAILING? June 28, 2011 HANNAH SMITH | DEUTSCHE BANK “I’m not particularly worried about it as they’re not shops that I tend to go to. It results in less competition for other stores but also doesn’t doesn’t help confidence in the economy so is a bit unnerving.” CHRIS JUDD | QBE INSURANCE “I think that retail is expanding too [...]
HSBC to merge Saudi business with competitor June 27, 2011 HSBC, Europe’s biggest bank, will merge its Saudi Arabian wholesale and investment banking business with Saudi British Bank’s SABB Securities, it said yesterday. SABB would own 51 per cent of the new entity, to be known as HSBC Saudi Arabia, but HSBC would retain full management control, HSBC said in a statement posted on the [...]
Anglo Irish fears escalate September 28, 2010 IRELAND’S borrowing costs hit a record high yesterday after two credit rating agencies warned its debt is at risk of further downgrades, compounding political jitters over a budget that could break a shaky government. The anxiety was sparked by warnings from ratings agency Standard & Poor’s that if government support for Anglo Irish Bank, set [...]
CITY VIEWS: GIVEN BANKRUPTCIES ARE DOWN, DO YOU THINK PEOPLE’S FINANCES ARE STARTING TO RECOVER? August 4, 2010 KEITH VALENTINE | AXCO INSURANCE INFORMATION SERVICES “People are beginning to find things a little easier, and are feeling a bit more confident. I have noticed some small price increases, which might make it hard for some, but I think people are generally feeling better in themselves. But if people are struggling, I don’t think [...]
CITY VIEWS: WHO SHOULD BE HELD ACCOUNTABLE FOR COMPENSATION OF FLIGHTS? April 22, 2010 ANDREW STEPAN | TPP RECRUITMENT “I don’t think you can blame the government for a volcano erupting. Airlines shouldn’t be held accountable either. If you buy a ticket for a flight, you should buy travel insurance.” CHRIS BRAVERY | CMA SHIPS “The government should be held accountable. They waited until the Monday morning to do [...]
ECB set to buy up to €1.7tr of national debt May 10, 2010 THE European Central Bank could buy up to €1.7 trillion (£1.4 trillion) of securities from troubled Eurozone countries alongside the unprecedented €750bn rescue fund unveiled yesterday. World equities soared as the ECB started buying bonds on secondary markets, lifting the pressure on Greece and Spain after weeks of hammering by speculators. The move came as [...]
Dubai World mints deal on $24bn debts May 20, 2010 SMALL lenders to Dubai World could scupper the conglomerate’s plan to restructure its $23.5bn (£16bn) debt pile, which was provisionally signed off by its core creditors yesterday. A committee of seven key banks, including London-listed HSBC, Royal Bank of Scotland and Standard Chartered, reached an agreement with the Dubai government-owned group “in principle” to defer [...]