London braced as Liverpool fans plan High Court protest October 10, 2010 ANGRY Liverpool supporters are planning to descend on central London in their hundreds this week when the club’s ownership is decided in the High Court. Reds fans intend to travel to the capital by the coach-load in order to vent their disgust at unpopular owners Tom Hicks and George Gillett outside the Royal Courts of [...]
FTSE gains on hope of more banking stimulus measures October 11, 2010 Britain’s top shares rose yesterday as hopes that governments around the world would take steps to bolster economic recovery fuelled investor optimism. Meanwhile, bullish broker comment helped lift Petrofac and Weir Group, while Prudential, Autonomy and BP were hit by broker downgrades. The FTSE 100 closed up 14.79 points, or 0.3 per cent, at 5,672.40. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 17, 2010 THE SUNDAYS The Sunday Telegraph LORD LAWSON URGES OSBORNE CUTS Lord Lawson of Blaby, the former Chancellor and a man used as a sounding board by George Osborne, has urged his successor to “be bold” when making cuts to expenditure in this week’s Comprehensive Spending Review. Lord Lawson said that in spite of fears of [...]
RBS blames EU for 3,500 job losses September 2, 2010 Royal Bank of Scotland (RBS) yesterday blamed the EU for swingeing job cuts that will clear out 3,500 support staff. The bank released a statement pointing to EU rules for the cuts. A statement read: “We continue to make efficiencies across our business and adjust our plans in line with the divestments we have been [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2010 FINANCIAL TIMES INDIAN OIL PLANS RECORD $4.3BN IPO Indian Oil plans to raise a record Rs190bn ($4.3bn, £2.73bn) by selling 20 per cent of its shares in what would be India’s biggest IPO, as several state-run groups are rushing to tap the nation’s booming equity market. Sumit Bose, India’s minister of disinvestment, said yesterday that [...]
Santander to be grilled by Commission September 22, 2010 SPAIN’S Santander will join the UK’s largest banks in facing individual grillings by the government’s independent banking commission when the private phase of the review gets under way next year. The commission’s official consultation launches tomorrow when ex-OFT boss Sir John Vickers, the chairman, publishes an initial “issues paper” setting out its agenda. The two [...]
EC rules to hit UK companies August 16, 2010 INSTITUTIONS including Lloyds Banking Group and Royal Bank of Scotland will be hit by an overhaul of European rules giving regulators greater powers over combined banking and insurance groups. The European Commission (EC) yesterday put forward plans to tighten oversight of “financial conglomerates”, defined as firms that lend and provide cover across multiple European states. [...]
EC rules to hit UK companies August 16, 2010 INSTITUTIONS including Lloyds Banking Group and Royal Bank of Scotland will be hit by an overhaul of European rules giving regulators greater powers over combined banking and insurance groups. The European Commission (EC) yesterday put forward plans to tighten oversight of “financial conglomerates”, defined as firms that lend and provide cover across multiple European states. [...]
Home-builders ramp up incentives to lure hard-up first-time buyers December 2, 2010 HOME-BUILDERS have always offered buyers deals, but some are more valuable than others. Take, for example, the West Bromwich Building Society’s offer in 2004 of a free Rover car worth over £7,000 – a year before the car-maker went into administration. The downturn has left house-builders with new-builds sitting empty all over the country, and [...]
Dramatic recovery for Britain’s banks August 1, 2010 BANKS will come under renewed pressure to extend credit to small businesses this week as the UK’s five largest lenders reveal combined pre-tax profits of nearly £12bn. With the stronger players returning to pre-financial crisis levels of success, a fresh row is brewing between politicians – who are demanding more finance for enterprises – and [...]