Diamond’s fall was less to do with Libor, more with image December 19, 2012 THOSE that care about such things have long suspected that the Barclays management led by Bob Diamond achieved little for themselves by being the first to settle allegations earlier this year that the bank manipulated a key interest rate. By doing so, they may have done well for their shareholders by agreeing a less costly [...]
Top candidates exit race to be next Bank boss October 8, 2012 THE COMPETITION for the next governor of the Bank of England heated up yesterday as the window for applications closed, with several high profile candidates ruling themselves out. Goldman Sachs economist Jim O’Neill – who coined the widely-used acronym BRICs – said yesterday he hadn’t applied for the job. And Australian central banker Glenn Stevens [...]
FSA boss lines up for top Threadneedle Street job October 11, 2012 CITY watchdog chief Adair Turner last night presented his plan for a safe and prosperous financial sector, in a speech that appeared to set out his stall to take over as the new head of the Bank of England. With Sir Mervyn King stepping down as governor of the Bank next year, Turner is a [...]
FSA boss lines up for top Threadneedle Street job October 11, 2012 CITY watchdog chief Adair Turner last night presented his plan for a safe and prosperous financial sector, in a speech that appeared to set out his stall to take over as the new head of the Bank of England. With Sir Mervyn King stepping down as governor of the Bank next year, Turner is a [...]
Cameron’s first cabinet reshuffle gets underway September 3, 2012 DAVID Cameron last night launched his first cabinet reshuffle by promoting Andrew Mitchell to the position of chief whip. The decision to move the former international development secretary, who once served as a UN peacekeeper, is an attempt to instil discipline into the parliamentary Conservative party. Mitchell will replace Patrick McLoughlin, who is set to stay [...]
Miliband aims for Green over HSBC scandal July 19, 2012 LABOUR yesterday stepped up the pressure on trade minister Lord Green to answer questions about his time at the helm of HSBC, following revelations about the bank’s involvement in money laundering. “Green must come to the House of Lords to answer questions about his role and his involvement in the HSBC issue and must answer [...]
Ed Miliband: Labour would have kept the 50p tax and is ready to break up banks September 30, 2012 IF LABOUR won an election tomorrow, it would keep the 50p rate of tax, introduce a new tax on bankers and spend the proceeds of the upcoming 4G spectrum auction on building 100,000 affordable homes, Ed Miliband said yesterday. But he would not commit to doing so if he wins the 2015 election, on the [...]
Ed Miliband: Labour would have kept the 50p tax and is ready to break up banks September 30, 2012 IF LABOUR won an election tomorrow, it would keep the 50p rate of tax, introduce a new tax on bankers and spend the proceeds of the upcoming 4G spectrum auction on building 100,000 affordable homes, Ed Miliband said yesterday. But he would not commit to doing so if he wins the 2015 election, on the [...]
Osborne under fire for lack of reforms July 22, 2012 CHANCELLOR George Osborne yesterday came under renewed pressure to define his economic vision as critics from all sides rounded on the government’s record on promoting growth. Statistics due out on Wednesday are expected to show that the UK economy has shrunk for the third successive quarter, raising questions about the stalling financial recovery. To make [...]
Coalition 2.0 September 4, 2012 PM reshuffles cabinet but no shift in key policies Change at Transport, NHS, Culture and Justice Boris attacks Cameron over Heathrow expansion DAVID Cameron last night put the finishing touches to his first ministerial reshuffle, with sweeping changes to the lower ranks but with most top cabinet members remaining in place. Despite changing dozens of positions [...]