Four appointed to join BoE panel June 10, 2009 THE Bank of England (BoE) yesterday confirmed the appointment of senior business figures Roger Carr, David Lees, Mark Tucker and Harrison Young as members of its Financial Stability Committee. The governor and two deputy governors of the central bank also sit on the committee, set up earlier this year to beef up the Bank’s oversight [...]
Four appointed to join BoE panel June 10, 2009 THE Bank of England (BoE) yesterday confirmed the appointment of senior business figures Roger Carr, David Lees, Mark Tucker and Harrison Young as members of its Financial Stability Committee. The governor and two deputy governors of the central bank also sit on the committee, set up earlier this year to beef up the Bank’s oversight [...]
Saad sell-off spooks City June 9, 2009 SHARES in Berkeley Group fell by 5.2 per cent yesterday after Saad Group sold nearly half its stake in the construction company, heightening concerns over the future of the Saudi investment firm’s other holdings. Saad, which held 28.5 per cent of Berkeley at the end of April, sold 16m of shares at a discounted 701p [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]
Lords call for stronger BoE June 1, 2009 AN influential House of Lords committee yesterday issued a thinly-veiled criticism of Gordon Brown’s stewardship of the economy, saying that “‘boom and bust’” was mistakenly consigned to history”. In its report on banking regulation, the Lords Economic Affairs Committee also said that Brown’s tripartite reform of the regulatory system had been “found wanting” amid the [...]
All eyes on the Bank but is giving credit all that is due? May 31, 2009 A STRING of economic data is due over the next five days which, after a relative drought recently, are likely to impact investor confidence should there be any surprises. The Bank of England will be acutely aware of this ahead of its interest rate decision on Thursday. With most economists predicting the central bank to [...]
No green shoots but recovery is on the way, says Bean May 21, 2009 BRITISH firms can expect continued difficulty in obtaining funding, but should be optimistic about the prospects for economic recovery, the Bank of England’s deputy governor Charles Bean said last night. In a speech to steel industry figures in Sheffield, Bean said there were encouraging signs that business confidence was returning but said he would “hesitate [...]
BoE ready to pump more money into economy if needed May 20, 2009 FRESH money will be pumped into the economy if the outlook deterioriates further, the minutes from the Bank of England’s May policy meeting indicated yesterday. At the meeting, all nine members of the Monetary Policy Committee (MPC) voted in favour of extending the central bank’s quantitative easing programme by £50bn, taking the total to £125bn. [...]
Russian banks may need 10bn as bad loans mount up, says central banker May 20, 2009 RUSSIAN banks could need a minimum of £10bn in extra capital this year to offset the damage done by rocketing levels of bad loans, one of the country’s top central bankers said yesterday. Alexei Simanovsky, who heads the Russian central bank’s supervision department, said stress testing had shown that non-performing loans would force banks to [...]