AN AWKWARD MOMENT AS BANK CHIEFS RETURN TO PARLIAMENT October 11, 2011 BRITAIN’S bank chiefs were lucky enough to be called before another parliamentary committee today, following several outings already this year. Seated in the stuffy House of Lords hearing room, banking maestros were put through their paces on topics ranging from capital buffers to some “curious nexuses” that HSBC chair Douglas Flint wanted to discuss. Is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 12, 2011 FINANCIAL TIMES Evraz raises prospect of Severstal merger Evraz has raised the possibility of a merger with Severstal in a deal that would unite Russia’s two biggest steelmakers to create the world’s eighth-largest producer by output, with a combined market capitalisation of £12bn. Alexander Abramov, Evraz’s chairman and founder, said in an interview with the [...]
WHAT IS YOUR OUTLOOK FOR THE HOUSEBUILDING SECTOR? September 14, 2011 CHRIS MILLINGTON | NUMIS The housing sector, at such a low level of activity, is showing a remarkable level of resilience. If we don’t get an interest rate rise it is very unlikely that we will see a big onset of foresellers in the market — so if that is the case, I think pricing [...]
Turner: new powers could prove useless October 20, 2011 THE Bank of England’s grand new idea of “macro-prudential” regulation could be useless to deliver credit growth, FSA chairman Lord Adair Turner told the City last night. In a speech at Mansion House, Turner suggested that the overhaul of the regulatory system being brought in by the coalition government might not be able to smooth [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2011 FINANCIAL TIMES BOSTOCK IN TALKS TO QUIT M&S FOR ASOS Kate Bostock, the head of Marks and Spencer’s clothing and homewares business, is in advanced talks to take up a senior role at Asos. People familiar with the situation said Bostock was talking to the online fashion retailer about becoming its managing director. Losing Bostock, [...]
House prices fall more than expected in August September 7, 2011 UK house prices fell 1.2 per cent in August, mortgage lender Halifax has said, after an 0.5 per cent fall in the second quarter, reinforcing views that current prices cannot be sustained by cash-strapped UK buyers. The fall is about twice the 0.6 per cent fall posted in the rival Nationwide measure of house prices. [...]
Aberdeen Asset management sees clients pull £800m September 26, 2011 UK fund manager Aberdeen Asset Management said clients pulled £800m from its funds in the two months to the end of August as market volatility hit demand for its fixed income and alternative products. Assets under management fell to £176.9bn at the end of August, 4.8 per cent lower than at 30 June, as slumping [...]
Aberdeen Asset management sees clients pull £800m September 26, 2011 UK fund manager Aberdeen Asset Management said clients pulled £800m from its funds in the two months to the end of August as market volatility hit demand for its fixed income and alternative products. Assets under management fell to £176.9bn at the end of August, 4.8 per cent lower than at 30 June, as slumping [...]
UK set for a decade of deleveraging November 14, 2011 WELCOME to modern Britain, a nation of over-leveraged debt junkies only just waking up to the urgency of mending its ways. Realising the scale of the UK’s long-standing addiction to credit is vital to understanding why growth forecasts are being cut left, right and centre. The real drag on demand in the UK won’t come [...]
UK set for a decade of deleveraging November 14, 2011 WELCOME to modern Britain, a nation of over-leveraged debt junkies only just waking up to the urgency of mending its ways. Realising the scale of the UK’s long-standing addiction to credit is vital to understanding why growth forecasts are being cut left, right and centre. The real drag on demand in the UK won’t come [...]