Banks: Hasty reform will cost 10m jobs June 10, 2010 REGULATORY reforms proposed for banks around the globe could cut three per cent off economic growth over the next five years in the United States, Eurozone and Japan alone, and cost almost 10m jobs, top banks said yesterday. The Institute of International Finance (IIF), a bank lobby group representing more than 400 firms, said a [...]
Miners carry the FTSE to small gains after talk Australia could axe new tax June 10, 2010 ARALLY by miners lifted Britain’s top share index by the close on Thursday, while improved economic sentiment gave the banks a boost. Another sharp fall for BP, however, limited the index’s gains, as the costs of the disastrous oil spill in the Gulf of Mexico continued to cloud the company’s future. Miners delivered the bulk [...]
London rises on comments by Fed chairman Bernanke June 9, 2010 BRITAIN’S top share index closed higher yesterday, lifted by gains in miners and banks, as investor appetite for risk was boosted by positive comments on the US economy from Federal Reserve Chairman Ben Bernanke. The FTSE 100 closed up 57.71 points, or 1.2 per cent, at 5,085.86, after a choppy session which saw the index [...]
Tesco chief’s exit is a blow but shares still good buy June 8, 2010 AND so the curtain falls on Terry Leahy’s remarkable reign at Tesco. Most investors will be shocked by his departure; the received wisdom was that Leahy would stick around until 2014, when its troubled Fresh & Easy US venture started to come good. His exit is a major loss for the grocer, there is no [...]
FTSE sunk by BP’s oil slick woes June 8, 2010 Britain’s FTSE 100 share index fell yesterday, led down by energy shares as BP dropped again on fresh Gulf of Mexico oil slick worries and banks which were hit by Eurozone debt concerns and the threat of punitive taxes. By the close the FTSE 100 was off 40.91 points, or 0.8 per cent at 5,028.15 [...]
Dalglish ideal man to rebuild troubled Reds June 3, 2010 LIVERPOOL legend Phil Thompson believes Kenny Dalglish is the ideal man to take them forward in the wake of Rafael Benitez’s exit. Dalglish, 59, has not managed a side since leaving Celtic 10 years ago, but ex-assistant boss Thompson insists his former Anfield team-mate is the perfect candidate to lead the club through uncertain times [...]
EX-CITI BANKER CLAIMS UNFAIR DISMISSAL – FOR BEING GORGEOUS June 2, 2010 WE’VE all heard of lawsuits being fired back and forth due to foxy females being sexually harassed at work, but bringing a legal complaint because managers insist a lady is too attractive to wear her normal office attire? That’s got to be a new one. Latino bombshell Debrahlee Lorenzana has filed a lawsuit in New [...]
FTSE closes higher, fuelled by energy stocks and BP Gulf oil spill response May 27, 2010 BRITAIN’S top shares rose 3.1 per cent yesterday to hit a one-week high, with oil stocks the standout gainers led by BP as it was making progress in plugging a well which has been leaking in the Gulf of Mexico for five weeks. The FTSE 100 index closed up 157.09 points at 5,195.17, its highest [...]
Principles and not rules are the way to encourage business to be ethical May 26, 2010 TOMORROW, the Financial Reporting Council will announce the first part of its new code of conduct for corporate governance. It is a welcome step towards ensuring that businesses behave in a responsible way, but more is needed. It has been striking in recent times that the public and policymakers have blamed business’s failures on ethical [...]
Standard Chartered launches India depositary receipt sale May 25, 2010 STANDARD Chartered yesterday launched a share sale to raise up to $588m (£410.3m) from investors in India, a country where the bank is on a mission to bolster its presence. The emerging markets-focused bank opened its four-day sale of 240m Indian Depositary Receipts (IDRs) – a derivative instrument with Standard Chartered shares as its underlying [...]