FTSE retreats from half-year highs reached after Federal Reserve fillip September 17, 2012 BRITAIN’S FTSE 100 retreated from half-year highs yesterday, in what strategists said was likely to be a profit-taking pause in a threemonth- long rally stimulated by global central banks. The benchmark share index has risen some 12 per cent since the start of June, propelled by expectations of central bank action that took effect in [...]
Fed and FSA pushing new regulator to play by rules August 16, 2012 STANDARD Chartered’s treatment at the hands of the New York state Department for Financial Services (DFS) has shocked the more established authorities, which are in frantic negotiations with the new regulator to ensure it doesn’t strike out alone again. Regulators in the UK, US and Hong Kong are understood to be furious that they were [...]
China premier defends Iran deal January 19, 2012 Chinese premier Wen Jiabao has defended his country’s extensive oil trade with Iran against pressure from the west to impose sanctions over its nuclear energy programme. Wen was speaking at the end of a six-day visit to the Middle East, with tensions running high over possible US sanctions on countries that do energy trade with [...]
EU bans oil imports from Iran January 23, 2012 The European Union has banned imports of oil from Iran as Western powers increase the pressure on Tehran to abandon its nuclear development programme. The 27 members of the EU are collectively the second biggest consumers of Iranian crude and news of the embargo pushed the price of Brent crude futures to over $110 dollars [...]
Misselling set to cost banks £12bn October 18, 2012 BARCLAYS put aside another £700m yesterday to deal with soaring payment protection insurance (PPI) misselling claims, as analysts warned that other banks would also have to increase their provisions. Analysts expect the four biggest banks to have set aside an additional £2.2bn over the last quarter to cover PPI misselling, taking the total for the [...]
What the other papers say this morning August 21, 2012 FINANCIAL TIMES Generali set to exit US reinsurance Generali has become the latest European insurer to plan an exit from the US after Italy’s largest insurer by annual premiums put its US life reinsurance business up for sale, according to a person familiar with the matter. Citigroup is advising the company on a sale of [...]
This year’s Nobel economists have transplanted theory into good practice October 15, 2012 I AM about to start teaching one of my favourite classes. I provide students with background reading and ask a simple question: how should we allocate kidneys? This year the course will be particularly relevant. Yesterday, we heard that Lloyd Shapley and Alvin Roth shared the 2012 Sveriges Riksbank Prize (the Nobel Prize in Economics). [...]
This year’s Nobel economists have transplanted theory into good practice October 15, 2012 I AM about to start teaching one of my favourite classes. I provide students with background reading and ask a simple question: how should we allocate kidneys? This year the course will be particularly relevant. Yesterday, we heard that Lloyd Shapley and Alvin Roth shared the 2012 Sveriges Riksbank Prize (the Nobel Prize in Economics). [...]
Paralympics audience increases August 28, 2012 LONDON 2012 chairman Lord Coe has welcomed the fact that the Paralympics will be shown in more countries than all previous editions of the showpiece. The Games, which get underway with tonight’s opening ceremony at the Olympic Stadium in Stratford, will be screened in more than 100 countries, encompassing Latin America, Pakistan, the United States [...]
US threatens Iran over Strait January 8, 2012 The US made an overt threat to take military action if Iran carries through with its threat to blockade the Strait of Hormuz, a major thoroughfare for transport of global oil supplies. Defence secretary Leon Panetta said: “We made very clear that the United States will not tolerate the blocking of the Strait of Hormuz… [...]