Weak banks and fears over Eurozone debt drag on FTSE May 9, 2011 BANKING stocks weighed on Britain’s leading share index yesterday, with the sector hit by their capitulation in a fight over loan insurance mis-selling, and by Eurozone debt concerns after S&P cut Greece’s credit rating. The British Banking Association said members would not appeal a ruling that they compensate customers wrongly sold payment protection insurance (PPI). [...]
Weak banks and fears over Eurozone debt drag on FTSE May 9, 2011 BANKING stocks weighed on Britain’s leading share index yesterday, with the sector hit by their capitulation in a fight over loan insurance mis-selling, and by Eurozone debt concerns after S&P cut Greece’s credit rating. The British Banking Association said members would not appeal a ruling that they compensate customers wrongly sold payment protection insurance (PPI). [...]
RBS narrows losses February 24, 2011 Royal Bank of Scotland (RBS) has reported a loss of £1.13bn for the full-year 2010, due in part to a £1.1bn tax charge. The result was an improvement on the £3.6bn loss the bank made in 2009, and when it plunged £24.3bn into the red in 2008. Money put aside for bad loans fell by [...]
CITY MOVES | WHO’S SWITCHING JOBS April 3, 2011 Bibby Financial Services The invoice finance specialist has appointed Andy Leopold as sales director for the south, based in London. Leopold, who has been promoted from the role of sales director for London and Hastings, brings more than 19 years’ experience working in the financial services sector. He will be responsible for securing new business [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2011 FINANCIAL TIMES SAMOA TO MOVE BACK TO THE FUTURE Samoa, the tiny Pacific Ocean island state, is travelling through time to improve its economic prospects. In a vote of confidence for the Asian century, the country has decided to shift the jagged International Date Line to its east at the end of this year, which [...]
DO YOU AGREE WITH THE NEW EUROPEAN RULING? March 1, 2011 ALEX SHEPHERD | ROYAL BANK OF SCOTLAND “The cost of insurance should be linked to risk assessment and women are considered to be safer drivers. How is this supposed to be sexist? Unisex rates are a punishment for responsible female drivers.” RAMESH SIVARAM | WILLIS INSURANCE “Why should women pay less than men for the [...]
JJB eyes £65m share issue to stave off debts March 13, 2011 DEBT ridden retailer JJB Sports is plotting a further £65m fundraising in an effort to reverse its recent financial woes. The Wigan-based firm will tomorrow announce details of a share offering to raise the cash, which is expected to come from existing investors. It will use the funds to give it working capital as it [...]
Maths skills secret to rise in FTSE ranks April 26, 2011 A BACKGROUND in finance is becoming the best route to landing a chief executive’s job at a blue chip firm, according to findings from this year’s Robert Half study of FTSE 100 chief executives. Nearly half (49 per cent) of serving chief executives in the current FTSE 100 Index have financial backgrounds – such as [...]
Not the end of the line for capitalism September 6, 2011 SAU, £20 Alex Singleton YOU might be forgiven for thinking that another book on the financial crisis was unnecessary. After all, Gordon Brown has already written a comprehensive tome. You know, the one in which he forgets about all the mistakes he made with regulation, congratulates himself for saving the world, and bangs on about [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 3, 2011 FINANCIAL TIMES BUSINESSES FEAR £90BN HIT IN COSTS BOOMERANG The UK’s main quoted companies fear that £90bn of annual costs will return to their books as they recover, washing away savings made during the recession and squeezing profit margins, according to a survey by a leading accountancy firm. Businesses believe that 95 per cent of [...]