What the other papers say this morning – 24 February 2014 February 23, 2014 FINANCIAL TIMES Deutsche Bank plans to cut US assets Deutsche Bank has for the first time laid out its plans to slash its US balance sheet as it seeks to allay concerns over how it would deal with tough new rules imposed by the Federal Reserve on foreign banks. The lender aims to reduce assets [...]
What the other papers say this morning – 20 February 2014 February 19, 2014 FINANCIAL TIMES ‘Boomer bulge’ hits US jobs data The drop in the percentage of Americans at work in recent years is often cast as a story about the long-term unemployed who give up trying to find jobs. But declining workforce participation rates, which have sharply reduced headline unemployment calculations in the world’s largest economy, could [...]
The law firm leaders joining the global dots January 26, 2014 Baker & McKenzie’s jet-setting duo tell Elizabeth Fournier how they stay ahead FOR A law firm that is less than 70 years old, Baker & McKenzie has an impressive global footprint. From humble beginnings at the hands of co-founders Russell Baker and John McKenzie in Chicago in 1949, the firm now employs more than 4,000 [...]
Japanese firm buys Canopius in £594m deal December 18, 2013 JAPANESE insurance group NKSJ yesterday confirmed its £594m deal to buy Lloyd’s of London underwriter Canopius, becoming the latest firm to make inroads into the City’s historic insurance market. NKSJ will buy Canopius, its biggest ever acquisition, through its Sompo Japan subsidiary. The purchase means a windfall for Bregal Capital, whose funds own just over [...]
Entrepreneurs now have their own pressure group – at last November 18, 2013 LISTEN up, entrepreneurs: you are about to get your own trade union. Yes, you read that right – a union, or at least a pressure group, specifically set up to fight for those who create and set up businesses. This new Entrepreneurs’ Alliance is an excellent idea. There are lots of groups that support established [...]
Exclusive: Ecclestone lawyers hit back at bribery charge July 17, 2013 LAWYERS for Formula One boss Bernie Ecclestone believe that lack of evidence of a crucial meeting could undermine a bribery case against him by German authorities. German prosecutors yesterday charged Ecclestone, 82, with bribery in connection with F1’s $1.7bn (£1.2bn) sale to its current owner, private equity firm CVC, in 2006. Ecclestone is accused of [...]
The six points on which Britain launches its challenge to EU bank bonus cap September 25, 2013 Britain has launched a legal challenge against the European Union's cap on bankers' bonuses. The chancellor George Osborne has warned that the new rules could "undermine responsibility in the banking system rather than promote it". The cap on bonuses is planned to take effect from 2014 onwards, limiting bonuses to match salaries, unless shareholders vote [...]
Simplify planning laws and Garden Cities could solve our housing crisis June 19, 2013 BRITAIN’s planning regulations are a lawyers’ banquet. A tangled web of 118 Acts of Parliament govern them and, while the legal profession and a new breed of lobbyists known as “planning consultants” may prosper from this quagmire, the economy suffers. This is the theme of a new policy report on Britain’s antiquated planning regime I [...]
The Treasury will gain nothing from property tax hikes June 25, 2013 A S THEY consider a “back-door” mansion tax and another increase in stamp duty in today’s Autumn Statement, George Osborne and Vince Cable should take a quick look at a dramatic drop in tax receipts after the last Budget. In March, stamp duty was hiked to 7 per cent for people buying property over £2m [...]
Inside Africa’s megacity: God, oil, and traffic chaos in Lagos November 29, 2013 From the Nollywood film industry to shanty-dwellers with a line in tech imports, Nigeria’s biggest city reveals its secrets to Alex Dymoke NO ONE knows quite how many people live in Lagos. Nigeria’s 2006 census put the official figure at just under 8m. The UN estimated the number for 2011 at 11.2m. Others say it’s [...]