Euro bailout fund rejig is set for March January 17, 2011 EUROZONE finance ministers called yesterday for an increase in the effective lending capacity of the currency bloc’s rescue fund, but German finance minister Wolfgang Schaeuble said there was no urgency and it would be March before a firm plan was in place. Schaeuble said that with bond markets calmer, there was no rush to take [...]
Philips CEO is frontrunner for Vodafone January 24, 2011 THE RACE to succeed Vodafone chairman Sir John Bond looks set to be won by Philips’ chief executive Gerard Kleisterlee. Vodafone is believed to have shortlisted three people to succeed the mobile phone operator’s current chairman, with Kleisterlee topping the list as the British-based group’s preferred candidate. The announcement of Sir John’s departure from Vodafone [...]
BUSINESS SCHOOL NEWS IN BRIEF February 16, 2011 MBAS FINDING JOBS Those with MBAs are still finding it relatively easy to find work, says new research from GMAC, the body which runs administration testing for MBA courses. Its Alumni Perspectives Survey shows that 88 per cent of 2010 business school graduates had jobs on graduation, 4 per cent higher than the class of [...]
Indian factory output recovers well….. December 1, 2010 INDIAN industry continues to grow after suffering a decline in 2009, data accrued by HSBC revealed yesterday. In November industry growth rose to above the long-run average, accelerating for the second successive month. The Purchasing Managers Index (PMI) jumped to 58.4 in November, up from 57.2 in October. The volume of new orders and export [...]
Submissions to Vickers January 26, 2011 BARCLAYS Said a forced split would harm the stability of the system. “There is little empirical evidence to suggest that material structural change would enhance financial stability,” it said, warning that the UK economy would also suffer if the financial sector is curtailed. RBS RBS sought to quantify the benefits of the universal model, estimating [...]
UK bank “stress tests” could start this week January 19, 2011 A team from the International Monetary Fund will ask the UK’s biggest banks for detailed information this week as it assesses the health of lenders in five European countries. The IMF is checking UK banks before wider “stress tests” by the European Union, three industry sources told Reuters. A separate source said the team was [...]
UK bank “stress tests” could start this week January 19, 2011 A team from the International Monetary Fund will ask the UK’s biggest banks for detailed information this week as it assesses the health of lenders in five European countries. The IMF is checking UK banks before wider “stress tests” by the European Union, three industry sources told Reuters. A separate source said the team was [...]
…..but high inflation scares China December 1, 2010 HIGH inflation is haunting China’s industrial sector, data from HSBC showed yesterday. Input prices shot up at the fourth fastest rate in the history of the Purchasing Managers Index (PMI). Economists pointed to low supply of goods, and panic buying in the face of further price rises. Prices of cotton, grain, oil and steel all [...]
City slams tax raid on banks February 8, 2011 GEORGE Osborne’s shock move to hike his special tax on banks’ balance sheets was slammed by institutions and economists yesterday. They warned it would exacerbate the uncertainty hanging over the sector, making it harder for banks to budget, and constraining their ability to lend. The rate hike means the financial sector will have to pay [...]
Merlin talks still on target, says Treasury February 8, 2011 GEORGE Osborne yesterday announced an £800m hike in this year’s bank levy, in a surprise move designed to “clear the decks” before the government signs a flagship agreement on lending and bonuses with the banks. The chancellor initially planned to introduce the £2.5bn-a-year levy at a reduced rate in 2011, yielding £1.7bn from the Treasury [...]