Fed goes after Wall St giant July 25, 2013 US FEDERAL prosecutors yesterday criminally indicted a top Wall Street hedge fund over allegations that years of spectacular performance were partly based on insider trading. SAC Capital Advisors was charged by a court in New York on four counts of securities fraud and one count of wire fraud following a seven-year investigation by regulators. No [...]
Morning, governor: Mark Carney takes charge at the Bank of England July 8, 2013 MARK Carney will today become the first foreign governor of the Bank of England in its 319-year history as he takes responsibility for turning Britain’s tepid economic growth into a fully fledged recovery. The Alberta-raised 48-year-old – dubbed “the outstanding central banker of his generation” by George Osborne – will celebrate Canada Day by starting [...]
Former UBS trader’s spread betting losses September 18, 2012 KWEKU Adoboli, the former UBS trader accused in a case involving losses of $2.25bn (£1.39bn) for the firm, lost £123,000 in the year running up to his arrest as a result of personal trading on a spread betting account, a jury has been told. Adoboli, who is accused of fraud by abuse of position and [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
Income growth at lowest level since late 2010 October 14, 2012 CONSUMERS came in for a hammering in September, data from Lloyds TSB showed today, as annual income growth hit its lowest level since December 2010. Real discretionary spending power dived 0.9 per cent last month, after 2.2 per cent growth in August, leaving consumers with around £100 a year less to spend on non-essential items, [...]
Boost to consumer morale in Germany and Italy but French industry struggling September 25, 2012 GERMAN consumers will maintain their good spirits into October, just as Italian consumer sentiment also seemed to be improving, two sets of data showed yesterday. Consumer confidence was at an index score of 5.9 in Germany, according to a forward looking measure from researchers GfK, the same positive result as last month. GfK said this [...]
Public calls for money lessons September 18, 2012 FINANCIAL education should be a compulsory subject at school, according to a poll released by MoneySupermarket yesterday. Responding to the question, “Is it important to teach children about managing money?” almost three quarters said that it was, and that it should be taught as part of the compulsory school curriculum. A further 22 per cent [...]
Public calls for money lessons September 18, 2012 FINANCIAL education should be a compulsory subject at school, according to a poll released by MoneySupermarket yesterday. Responding to the question, “Is it important to teach children about managing money?” almost three quarters said that it was, and that it should be taught as part of the compulsory school curriculum. A further 22 per cent [...]
Give yourself a bit of credit November 4, 2012 OVER £12.6bn was spent on credit cards in September 2012 alone. They’re a convenient way to manage your expenses — you can spread the cost of large purchases, give yourself an extra layer of protection against fraud, and they could help you build up a good credit history if used sensibly. But given the size [...]
Intl Personal Finance profits up October 25, 2011 Emerging markets lender International Personal Finance posted higher third-quarter profit yesterday, helped by growth in customer numbers and credit volume issued, and said it could weather the global economic turmoil. The company said pre-tax profits for the third quarter had risen by 11 per cent to £27m, with revenues rising by nine per cent over [...]