Calls for more UK housing as prices hold up June 20, 2011 BRITAIN needs more houses to avoid shortages in the near future, a group of economists is expected to announce tonight. Even if net migration levelled out, the UK would still require more housing, the Centre for Economic Performance will state at a lecture in London. “Unfairly perhaps, migrants will nevertheless get a lot of blame,” [...]
A journey to the promised land of New World wine October 16, 2011 It was a few years ago, on an evening near Christmas in a neon-lit office boardroom, that I set my heart on South African wine. Until that night, I’d floundered when faced with supermarket wine sections and restaurant lists. Nothing tasted worth the money. And yet wine played an almost daily role in my life. [...]
Horta-Osório is betting on UK recovery June 30, 2011 EARLIER this month, we spotted Antonio Horta-Osório and Danny Alexander, the chief secretary to the Treasury, deep in conspiratorial conversation at a Mansion House dinner. When they realised that certain guests were trying to eavesdrop, they moved on to an empty room. For both men, success depends entirely on the health of the British economy. [...]
The City needs to think global July 24, 2011 THE hacking scandal has dominated the headlines in recent weeks, but unfortunately that does not mean the challenges facing the global economy have disappeared – far from it. Concerns continue over the UK recovery, the Eurozone crisis, and the protracted discussions on raising the US debt ceiling remain, even if the media spotlight has shifted [...]
The City needs to think global July 24, 2011 THE hacking scandal has dominated the headlines in recent weeks, but unfortunately that does not mean the challenges facing the global economy have disappeared – far from it. Concerns continue over the UK recovery, the Eurozone crisis, and the protracted discussions on raising the US debt ceiling remain, even if the media spotlight has shifted [...]
CITY MOVES | WHO’S SWITCHING JOBS July 21, 2011 BNY Mellon Michael Cole-Fontayn has been appointed as the new chairman of EMEA at BNY Mellon, retaining his existing responsibilities as chief executive of the depositary receipts division. Cole-Fontayn succeeds Tim Keaney, chief executive of BNY Mellon Asset Servicing, who is relocating to New York. Cole-Fontayn joined BNY Mellon in 1984 and has worked in [...]
CITY MOVES | WHO’S SWITCHING JOBS July 21, 2011 BNY Mellon Michael Cole-Fontayn has been appointed as the new chairman of EMEA at BNY Mellon, retaining his existing responsibilities as chief executive of the depositary receipts division. Cole-Fontayn succeeds Tim Keaney, chief executive of BNY Mellon Asset Servicing, who is relocating to New York. Cole-Fontayn joined BNY Mellon in 1984 and has worked in [...]
Eurozone needs to cut out the rot before it’s too late September 7, 2011 WHEREVER one looks, the signals are bad. The S&P 500 is down 14.5 per cent from its highest point of the year. The Vix, a measure of market turbulence, rose 9.4 per cent yesterday. Bank stocks tumbled everywhere. The Swiss franc went nuts when the authorities took the dramatic step to peg it to the [...]
Eurozone needs to cut out the rot before it’s too late September 6, 2011 WHEREVER one looks, the signals are bad. The S&P 500 is down 14.5 per cent from its highest point of the year. The Vix, a measure of market turbulence, rose 9.4 per cent yesterday. Bank stocks tumbled everywhere. The Swiss franc went nuts when the authorities took the dramatic step to peg it to the [...]
NEW REGULATION September 1, 2011 • Basel 2.5: The changes to banks’ capital regime introduced over 2009-2010 rejigged the methods that banks must use to calculate the value of their “risk-weighted assets” (RWA) – that is, their total assets adjusted for certain kinds of risk. This shifted banks from a Basel II regime to what the industry calls “Basel 2.5”. [...]