Windfall for Mouchel chairman August 5, 2012 THE CHAIRMAN of struggling infrastructure firm Mouchel stands to pocket £650,000 for his work in a restructuring deal that will see shareholders’ investment virtually wiped out. Under the debt-for-equity deal announced last week, David Shearer will be paid £150,000 a year for his role as chairman, plus £100,000 to his consultancy firm Buchanan Shearer for [...]
RBS confirms it has sacked staff over Libor affair August 3, 2012 State-controlled lender Royal Bank of Scotland confirmed today it had dismissed a number of employees for misconduct as a result of its investigations into the Libor interest rate rigging scandal and along with other banks is still under investigation by regulators. “The Libor situation is on our agenda and is a stark reminder of the [...]
FSA in bid to create rivals to offer more banking choice July 19, 2012 AS PART of efforts to boost new entrants into the banking sector, the Financial Services Authority said yesterday that it will review applications for banking licences that were unsuccessful. Financial services minister Mark Hoban said the review would aim to ensure the current requirements are “proportionate” and “do not create excessive barriers to entry.” The [...]
Value of housing expands to all-time record of £4.2 trillion February 4, 2013 THE TOTAL value of the UK’s housing stock rose to breach the pre-recession peak of £4.08 trillion in 2012, according to figures released yesterday. UK houses were together worth £4.17 trillion in 2012, Lloyds Bank said, up from £4.07 trillion in 2011, and up from £3.69 trillion during the depths of the credit crunch and [...]
What the other papers say this morning August 29, 2012 FINANCIAL TIMES Google Plus adds new features Google is expanding its social networking service further into the corporate world to take on the likes of Microsoft’s Yammer and Salesforce.com’s Chatter. The search company launched Google Plus in June last year but did not originally allow business customers of its Google Apps products, such as Gmail [...]
Generation E September 10, 2012 A NEW generation of entrepreneurs will lift the UK out of its devastating economic recession, according to a report out this morning by a leading educational society. The proportion of surveyed twenty-somethings who want to start their own business rocketed from 17 per cent in 1998 to 29 per cent in 2010, the research shows. [...]
Generation E September 10, 2012 A NEW generation of entrepreneurs will lift the UK out of its devastating economic recession, according to a report out this morning by a leading educational society. The proportion of surveyed twenty-somethings who want to start their own business rocketed from 17 per cent in 1998 to 29 per cent in 2010, the research shows. [...]
China trade data weighs on FTSE August 10, 2012 Britain’s top share index dipped this morning, weighed down by weakness in mining stocks and demand concerns following poor trade data from China. The FTSE 100 was down 0.1 per cent following weak trade figures and a nine-month low in crude oil imports which painted a picture of a slowing economy. Meanwhile, disappointing economic data [...]
What the other papers say this morning September 2, 2012 FINANCIAL TIMES CIC sells bulk of its BlackRock stake China Investment Corp has sold most of its stake in BlackRock, the world’s largest asset manager, as part of a wider strategy by the sovereign wealth to cut its holdings in global financial institutions. CIC bought just under 3 per cent of BlackRock’s shares, worth about [...]
Mining gains prop up FTSE August 9, 2012 Gains in heavyweight miners kept Britain’s main share index flat this morning, as solid results from Randgold Resources and expectations of fresh stimulus measures from China propped up the equity markets. The FTSE 100 was down 0.08 per cent, as Randgold rose 3.1 per cent after reporting a 10 per cent rise in second-quarter profit. [...]