Business fund in doubt as banks pull out December 17, 2009 THE government’s proposed fund to stimulate lending to businesses was in trouble last night after it emerged a number of major banks may refuse to contribute amid a row over bankers’ bonuses. Standard Chartered has already turned down ministers’ requests to provide at least £25m to support the launch of the National Investment Corporation (NIC) [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 14, 2010 FINANCIAL TIMES SIEMENs CHAIRMAN TO MEET INVESTORS Gerhard Cromme, chairman of Siemens and ThyssenKrupp, and the chief financial officers of both conglomerates will meet investors on Friday in an unusual joint move ahead of the first shareholder votes on executive pay in Germany. The meeting in Munich is considered extraordinary by investors as it highlights [...]
Osborne: Tories have a high regard for Turner’s abilities October 11, 2009 The Tories said last night that they admired Financial Services Authority chairman Lord Adair Turner, but that it was too early to speculate whether they would hand him a top job at the Bank of England (BoE). Commenting on talk that Turner could become deputy to the governor of the BoE if the conservatives win [...]
Osborne: Tories have a high regard for Turner’s abilities October 11, 2009 The Tories said last night that they admired Financial Services Authority chairman Lord Adair Turner, but that it was too early to speculate whether they would hand him a top job at the Bank of England (BoE). Commenting on talk that Turner could become deputy to the governor of the BoE if the conservatives win [...]
Killing the goose that lays Golden eggs December 7, 2009 HERE are a few facts that Chancellor Alistair Darling should bear in mind as he prepares to hit the financial services industry and high earners with even higher taxes on Wednesday. The top 10 per cent of earners are already set to pay 53.6 per cent of income tax in 2008-09; the top five per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 17, 2009 FINANCIAL TIMES BARCLAYS RETAIL CHIEF WARNS NEW ENTRANTSThe new head of global retail banking at Barclays has joined the backlash of traditional bankers against the entry into banking of supermarkets and other consumer companies. Antony Jenkins said the new competitors may be under-estimating the difficulties of breaking into the market. APOLLO SETS SIGHTS ON NYSE [...]
Brown in key MPs’ meeting June 7, 2009 GORDON Brown will be fighting for his political survival today in a make-or-break meeting with MPs. Rebel MPs have still not come up with the 100 signatures they promised in a letter of no confidence. They need the backing of 71 of Labour’s 350 lawmakers to trigger a leadership contest, which would take about three [...]
Brown in key MPs’ meeting June 7, 2009 GORDON Brown will be fighting for his political survival today in a make-or-break meeting with MPs. Rebel MPs have still not come up with the 100 signatures they promised in a letter of no confidence. They need the backing of 71 of Labour’s 350 lawmakers to trigger a leadership contest, which would take about three [...]
WAR ON BANKS AFTER BONUS ROW EXPLODES December 3, 2009 POLITICIANS rounded on bankers yesterday amid fears a windfall tax on bank profits is on the cards for the pre-budget report next week. The concerns came as a report from the National Audit Office (NAO), released today, revealed for the first time that the government has spent £117bn bailing out the banks. Lord Myners, the [...]
The Queen’s Speech starts election race November 18, 2009 THE government yesterday laid down battle lines for the next general election with a politically charged Queen’s Speech that the Conservatives and Liberal Democrats dismissed as “pointless”. The legislative programme outlined by the Queen in the House of Lords contained moves including a widely-expected Financial Services Bill, which will allow regulators to veto bankers’ bonuses [...]