Banks deny BBA talks to cut bonuses November 15, 2010 UK banks have denied they are involved in a coordinated effort to slash bankers bonuses by almost half. Banks are under pressure to trim more than £3bn from the estimated £7bn bonus pot, which is due to be announced in March. However, the four main UK banks denied rumours they are working with the British [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 30, 2010 FINANCIAL TIMES KPMG HIRES NON-EXECUTIVE DIRECTORS FOR NEW OVERSIGHT BODY KPMG Europe has hired three non-executive directors to sit on a new oversight body in a move that highlights the differing ways big audit firms are complying with regulatory changes in the UK. The directors are: Sir Steve Robson, a retired senior civil servant at [...]
FTSE 100 gains on the back of Experian and financials November 17, 2010 THE top share index closed higher yesterday, led up by Experian after robust first-half results, while strength was seen among banks which have been weighed down by concerns over Europe’s debt problems. Experian rose 6.3 per cent after the credit information group hiked its interim dividend and said it would look at ways of returning [...]
Lord Grabiner QC steals show with a match-winning cameo October 13, 2010 IT WASN’T quite Athens 2005, but Liverpool’s High Court victory represented an exhilarating comeback of sorts. And the match-winner this week was not Steven Gerrard but the more scholarly, if less athletic, figure of Lord Grabiner QC. The legal heavyweight, reputed to be the second highest paid barrister in the land, merely watched from the [...]
Lloyds confirms it will drop TSB September 13, 2010 LLOYDS Banking Group yesterday confirmed plans to rebrand its retail banking business, including the dropping of the historic TSB name. The move, first announced last November when Lloyds agreed its restructuring plan with the European Commission, will see the retail operation renamed Lloyds Bank over the next three years. There will be no change to [...]
City Moves | who’s switching jobs March 30, 2011 Astbury Marsden Mark O’Reilly has been appointed as managing director of the financial services recruitment firm’s Asia Pacific operations. O’Reilly will be based in Hong Kong and will continue to lead the expansion of the company’s Singapore and Hong Kong offices. O’Reilly has more than 13 years’ experience in financial services recruitment, including three years [...]
Profits plunge as Santander confirms IPO October 28, 2010 SANTANDER Group shocked the City yesterday, warning that full-year profits would not meet its target due to Spanish regulatory changes. The warning came as the CEO of Santander UK, António Horta-Osório, confirmed that the UK business will go ahead with an IPO in 2011, probably in the first half of the year. The IPO is [...]
Drop in mining stocks takes a toll on the FTSE but Rolls-Royce begins to recover November 8, 2010 BRITAIN’S top shares fell yesterday as mining and energy stocks tracked lower commodity prices, while financials eased on Basel III and sovereign debt concerns. Rolls-Royce rose 2.7 per cent after the engine manufacturer announced progress in understanding the cause of the failure of a Trent 900-powered A380 Qantas flight on 4 November, adding the incident [...]
THE TIPSTER November 10, 2010 The supermarket Sainsbury’s recently saw a dip in its share price, offering a rare buying opportunity for spread betters. Thanks to its immense property portfolio, Sainsbury’s is still preferred over competitors like Tesco. Capital CFDs quotes a price of 373.4p-374.0p. The G20 meeting in South Korea is now underway and the world is hoping for [...]
Weak bank figures send FTSE lower October 26, 2010 WEAK banks helped drive Britain’s top share index to a lower close yesterday, with sentiment hit by a loss at UBS’s investment bank and as investors locked in profits after sharp gains over the last two months. The FTSE 100 closed 44.68 points, or 0.8 per cent, lower at 5,707.30, its biggest one-day percentage drop [...]