CITY VIEWS: Is ba’s pledge to cut the aviation industry’s carbon emissions enough? or should we just fly less? September 22, 2009 IAN SEAKENS LLOYD’S OF LONDON“The aviation industry is doing the very least it can possibly get away with to combat carbon emissions. It’s a tough time for airlines, margins are squeezed, and this is the last thing companies want to be spending out on.” DON OKOLIE ZURICH FINANCIAL SERVICES“Willie Walsh’s pledge to cut emissions by [...]
Goldman sends LSE shares down despite praise for CEO October 21, 2009 The FTSE 100 was all about the power of the analyst today, with a number of individual movers spurred up or down by words of wisdom from the City’s finest. The London Stock Exchange (LSE) shed 2.2 per cent to close at 914p after Goldman Sachs cut its rating on the stock to “neutral” on [...]
CITY MOVES WHO’S SWITCHING JOBS October 4, 2009 ForestersThe friendly society has hired industry heavyweight Graham Berville to the board as a non-executive director. Berville was formerly director of the Association of Friendly Societies and chairman of the Association of Mutual Insurers, as well as a member and chairman of various Association of British Insurers (ABI) committees. Prior to joining Foresters, he spent [...]
POLL: UK FACING INSURER EXODUS September 15, 2009 OVER 60 per cent of top executives at Britain’s insurance firms are feeling tempted to leave the UK because of high taxes, a poll reveals today. The survey of 75 chief executives and finance directors also showed growing pessimism about the competitiveness of the City, with 80 per cent predicting the number of insurers based [...]
Legal &General buyout talk continues to dominate FTSE October 1, 2009 TALK that blue chip insurer Legal & General is to be a target for Clive Cowdery’s Resolution buyout vehicle continued yesterday. Traders were saying that L&Ghas already been approached by Cowdery, despite the fact his buyout vehicle is currently in a closed period ahead of its merger with rival insurer Friends Provident. But City A.M. [...]
Regulators agree tough new rules on banks’ capital levels September 7, 2009 A GLOBAL committee of top regulators has agreed on a raft of strict rules that will dictate how much banks have to hoard in capital reserves and how much they can borrow. The Basel Committee has agreed tough new regulations to prevent banks from building up giant levels of debt in a bid to prevent [...]
Regulators agree tough new rules on banks’ capital levels September 7, 2009 A GLOBAL committee of top regulators has agreed on a raft of strict rules that will dictate how much banks have to hoard in capital reserves and how much they can borrow. The Basel Committee has agreed tough new regulations to prevent banks from building up giant levels of debt in a bid to prevent [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 21, 2009 FINANCIAL TIMES VINCI CHIEF DOWNBEAT ON SECTOREurope’s construction market is likely to fall further next year, despite billions injected by governments in stimulus plans and emerging signs of recovery in the region’s two largest economies, Xavier Huillard, chief executive of Vinci, has warned. In an interview with the FT, Mr Huillard warned of further pain [...]
Why next year will be critical for London’s army of M&A dealmakers October 18, 2009 WHEN Tim Jones, the London managing partner of global law giant Freshfields Bruckhaus Deringer, walks into a room, one is immediately struck by the fact that he still looks every inch the Wales B rugby prop forward he used be. However, as he settles down in one of his firm’s sixth-floor, oak-panelled meeting room, he [...]
CITY VIEWS: WAS THE FSA’S CLIMB DOWN ON BONUSES THE ONLY SENSIBLE OPTION? August 13, 2009 ADAM MITCHELL LLOYD’S SYNDICATE“No. The FSA’s backtrack on bonus regulation wasn’t necessary. In fact, they should be firmer in their monitoring. Remuneration policies need overseeing, and the FSA and the government should both take responsibility to see that bonuses don’t get out of hand.” BEN LAWLOR ASSET MANAGEMENT“We’re in a free market, so regulation should [...]