ECONOMIC DIARY February 21, 2010 AFTER a week packed with economic data releases, the next five days promise to be a bit quieter. Last Thursday, the US Federal Reserve hiked the rate it charged banks to hold reserves in a surprise move that signalled a return towards more normal monetary policy. On Wednesday Fed chairman Ben Bernanke will be giving [...]
Piquet Jr turns back on F1 January 12, 2010 FORMULA ONE: Nelson Piquet Jr, the former Renault driver at the heart of the Crashgate scandal, is set to re-launch his career in NASCAR. The Brazilian, whose deliberate crash at the 2008 Singapore Grand Prix sent shockwaves through motorsport, failed to agree a drive in F1 for next season. Piquet, who has not revealed whether [...]
Nationwide is most trusted June 25, 2009 NATIONWIDE, the UK’s largest building society, is also its most trusted financial brand, according to Moneywise magazine. The publication’s inaugural Customer Service Awards also saw Swiftcover take the gong for most trusted motor insurer, while Liverpool Victoria was deemed the most reliable home insurer and Legal & General scooped the award for income protection providers. [...]
Nationwide is most trusted June 25, 2009 NATIONWIDE, the UK’s largest building society, is also its most trusted financial brand, according to Moneywise magazine. The publication’s inaugural Customer Service Awards also saw Swiftcover take the gong for most trusted motor insurer, while Liverpool Victoria was deemed the most reliable home insurer and Legal & General scooped the award for income protection providers. [...]
Morrison’s gets its man with hire of ex-Wal Mart executive January 27, 2010 WM MORRISON has appointed Dalton Philips, a former Wal-Mart executive, as its new chief executive, ending months of speculation over who would succeed Marc Bolland. Philips is chief operating officer of Loblaw, Canada’s largest grocer with 1,000 supermarkets nationwide and a turnover of £18bn. He previously ran the Irish department store group Brown Thomas. The [...]
Nationwide defends its 125pc loan July 9, 2009 BRITAIN’S largest mutual Nationwide yesterday defended its decision to launch a mortgage allowing customers to borrow up to 125 per cent of the value of their property. The product is aimed at homeowners in negative equity who want to move to a house worth more than their own. But critics warned yesterday that the mortgage [...]
Dunfermline’s £1.5bn of aid gets EU nod January 25, 2010 THE European Commission yesterday cleared a plan by British authorities to provide aid of over £1.5bn to facilitate the restructuring of Dunfermline Building Society. The restructuring saw the split-up of the building society, of which a part containing good assets and liabilities was sold in an auction to a competitor. “The Commission found that the [...]
GREEK DRAMA December 15, 2009 Greek Prime Minister George Papandreou held rare crisis talks with opposition leaders yesterday, a day after he announced a raft of spending cuts. Trade unions have called for a 24-hour nationwide strike for tomorrow in a move that is set to undermine efforts to push through reforms.
CITY VIEWS: SHOULD NATIONWIDE BE OFFERING THE 125 PER CENT MORTGAGE? July 9, 2009 MATT WING MATT WING ASSOCIATES“If you already have equity in a house then it might be okay. I can see that it would appeal to people in that position, but there will be those who take it and cannot afford it. I think other banks could start to offer the same thing.”STEPHEN THOMPSON TALBOT UNDERWRITING“I [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 9, 2010 FINANCIAL TIMES REGULATORS TELL US BANKS TO HOLD FUNDS US regulators have told banks not to increase dividends or buy back shares until political and economic uncertainty surrounding the industry dissipates, in a move that will delay by months the return of capital to shareholders. Some investors in financial stocks argue that winners of the [...]