BLANK QUITS LLOYDS OVER HBOS DISASTER May 17, 2009 LLOYDS Banking Group must begin the hunt for a successor to chairman Sir Victor Blank, after the bank chief announced yesterday that he would retire before the bank’s 2010 AGM. In a board meeting at the bank’s Gresham Street headquarters, Blank officially notified fellow board members of his departure, which follows massive investor anger over [...]
Fears over Barclays sell-off drag the FTSE 100 down June 2, 2009 THE FTSE 100 ended down 0.7 per cent yesterday, hurt by banks after a major shareholder sold its holding in Barclays, although improving US pending home sales lent some support. The index closed 29.17 points lower at 4,477.02, giving up some of the previous session’s 2 per cent rise. Barclays topped the FTSE 100 losers’ [...]
All eyes on the Bank but is giving credit all that is due? May 31, 2009 A STRING of economic data is due over the next five days which, after a relative drought recently, are likely to impact investor confidence should there be any surprises. The Bank of England will be acutely aware of this ahead of its interest rate decision on Thursday. With most economists predicting the central bank to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 8, 2009 FINANCIAL TIMESCME HEAD BACKS DERIVATIVES REFORMA powerful exchange chief has brushed aside concerns in the US and Europe over the regulation of over-the-counter derivatives, in comments likely to bolster support for the proposed reforms. Regulators on both sides of the Atlantic are insisting that most OTC derivatives be shifted onto formal exchanges and processed through [...]
Economic cheer sees FTSE break through 4,500 barrier June 1, 2009 THE FTSE 100 ended 2 per cent, or 88.25 points, higher yesterday at 4,506.19 as some unusually upbeat data saw optimism about the global economy rise. Mining stocks led the charge, as metal prices firmed, bolstered by hopes for increased demand particularly following bullish Chinese data. China’s official purchasing managers index for May stayed above [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 14, 2009 THE SUNDAYSThe Sunday Telegraph RBS INVESTORS SAY PAY CHIEF EXEC MORERoyal Bank of Scotland chairman Sir Philip Hampton has had to overhaul the planned incentive package for chief executive Stephen Hester after institutional investors raised concerns that it was not generous enough. INEOS DEBT SPARKS WORRIES OVER ITS FUTUREAuditors to Ineos, Britain’s biggest private company, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 14, 2009 THE SUNDAYSThe Sunday Telegraph RBS INVESTORS SAY PAY CHIEF EXEC MORERoyal Bank of Scotland chairman Sir Philip Hampton has had to overhaul the planned incentive package for chief executive Stephen Hester after institutional investors raised concerns that it was not generous enough. INEOS DEBT SPARKS WORRIES OVER ITS FUTUREAuditors to Ineos, Britain’s biggest private company, [...]
CITY A.M. SHADOW MPC October 7, 2009 ALLISTER HEATH CITY A.M.“Weak money supply growth masks the strong likelihood that the demand for money has dropped, which suggests that there is now enough liquidity in the economy. So the Bank should start winding down QE.” SIMON WARD HENDERSON NEW STAR“Hold rates, suspend QE. Asset price strength and pound weakness suggest excess liquidity. Sluggish [...]
Sterling slips as King remarks on benefits of a weak pound… September 24, 2009 STERLING slumped against most foreign currencies yesterday, as forex traders took in Bank of England governor Mervyn King’s indication that he was comfortable with a weaker pound by selling it. Currency markets reacted to comments from King suggesting that a weaker sterling could help the UK recalibrate its economy, driving the pound to a five-month [...]
Sterling slips as King remarks on benefits of a weak pound… September 24, 2009 STERLING slumped against most foreign currencies yesterday, as forex traders took in Bank of England governor Mervyn King’s indication that he was comfortable with a weaker pound by selling it. Currency markets reacted to comments from King suggesting that a weaker sterling could help the UK recalibrate its economy, driving the pound to a five-month [...]