Weidmann in sovereign debt warning
Jens Weidmann, president of the Bundesbank, has risked angering Europe’s crisis-hit governments by warning of the dangers posed by high levels of sovereign debt on banks’ balance sheets. He wrote: “The time is ripe to address the regulatory treatment of sovereign exposures.”
US asset managers face extra scrutiny
In a sign that asset managers could be the next group of financial institutions to face tighter government regulations, the US Treasury’s Office of Financial Research issued a report yesterday detailing the ways in which the industry could create vulnerabilities in the financial system.
Dimon to attend Obama meeting
Jamie Dimon, chief executive of JP Morgan Chase, will meet President Barack Obama tomorrow in spite of the bank’s looming settlement with the Justice Department over alleged mis-selling of mortgage securities.
Energy giant sends warning to Labour
Keith Anderson, the chief corporate officer of Scottish Power, has warned the company would scrap billions of pounds of investment if Ed Miliband’s plan to freeze utility bills goes ahead.
Market to choke on Unilever warning
Unilever has issued its first profit warning in nearly a decade after a sharper than expected slowdown in sales in emerging markets.
The Daily Telegraph
CEBR predicts UK house price rise
House prices across Britain will soar by nearly a quarter to record levels in the next five years to an average of £500,000 in 2018, the Centre for Economics and Business Research (CEBR) says.
BP failed to plan for disaster
BP failed to make proper contingency plans for an explosion at its Deepwater Horizon oil well, a court was told yesterday.
THE WALL STREET JOURNAL
OGX set to miss bond payment
OGX, the flagship oil company of Brazilian businessman Eike Batista, plans to miss a $44.5m bond interest payment due today, according to a person familiar with the situation.
Delta to equip pilots with Surface 2
Delta will start equipping its pilots with Microsoft’s Surface 2 tablet this year as it replaces paper-based flight kits.