A salt of the earth therapy for congested Londoners January 26, 2010 ENTERING the treatment room at South London’s Salt Cave clinic is a bit like stepping into Narnia. You may be going via an anteroom in a converted Earlsfield community centre rather than through the back of a wardrobe, but what greets you is an all-white environment, with powder spread in little ripples and dunes across [...]
Manifestos to target the City April 11, 2010 THE City is set to take centre stage in the general election campaign this week, when the Tories and Labour unveil their manifestos. The Conservatives will confirm plans to raise over £1bn via a levy on banks’ wholesale funding when they release their manifesto tomorrow. Part of that will fund their £550m tax break for [...]
Choosing the right lender is crucial in a tough market June 3, 2010 HOUSES are selling like hotcakes thanks to fierce competition among buyers. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) showed that houses are shifting quicker than new ones could come on to the market, despite the number of new sellers increasing. Even the dreaded gazumping is back. In such a market, [...]
LLOYDS POISED TO PAY £100M IN BONUS TAX December 14, 2009 LLOYDS Banking Group, which yesterday successfully completed a record-breaking £13.5bn rights issue, is preparing to pay out its bonus pool in full. The move, which follows mounting anger in the City over the government’s super-tax, will see the firm having to hand over an estimated £100m in payments to the Treasury as part of the [...]
LLOYDS POISED TO PAY £100M IN BONUS TAX December 14, 2009 LLOYDS Banking Group, which yesterday successfully completed a record-breaking £13.5bn rights issue, is preparing to pay out its bonus pool in full. The move, which follows mounting anger in the City over the government’s super-tax, will see the firm having to hand over an estimated £100m in payments to the Treasury as part of the [...]
Kroes: I’m no bank slayer November 12, 2009 EU COMPETITION chief Neelie Kroes yesterday hit back at critics who have slammed her decision to enforce punishing break-up rules on Europe’s bailed-out institutions, insisting she is not a “bank destroyer”. Speaking in Amsterdam, Kroes – nicknamed “Steely Neelie” for her ruthless approach – said: “Our goal is not to break up banks. I am [...]
Bank jitters and commodity weakness hits London stocks December 17, 2009 Jitters in the financial sector prompted by tough new proposed regulations sent banks sliding yesterday while commodity stocks also retreated on weaker raw material prices, pulling the FTSE 100 down 1.9 per cent by close. The FTSE 100 closed down 102.65 points at 5,217.61, having closed 34.49 points, or 0.7 per cent, higher on Wednesday [...]
Santander able to bid for RBS assets November 1, 2009 Spanish bank Santander has been cleared to bid for Royal Bank of Scotland’s business-focused branches when the bank’s assets are divested under plans being drawn up. Competition rules agreed between London and Brussels will ensure that no purchase of the assets will push the buyer’s market share in the specific market past 15 per cent. [...]
Santander able to bid for RBS assets November 1, 2009 Spanish bank Santander has been cleared to bid for Royal Bank of Scotland’s business-focused branches when the bank’s assets are divested under plans being drawn up. Competition rules agreed between London and Brussels will ensure that no purchase of the assets will push the buyer’s market share in the specific market past 15 per cent. [...]
Myners calls on investors to enforce a bonus clampdown November 3, 2009 CITY minister Lord Myners yesterday called on institutional investors to clamp down on bumper bonuses across the whole banking sector as he outlined Treasury plans to replace cash bonuses with equity-based payouts for high-earning staff at part-nationalised Royal Bank of Scotland and Lloyds Banking Group. RBS and Lloyds have agreed to halt all discretionary cash [...]