Fed considers delay to Volcker rule
The Federal Reserve is considering a delay in the compliance date for the highly anticipated Volcker regulation, giving banks additional time to conform with its provisions, according to people familiar with the matter. The Fed has the option of delaying the compliance date in one-year increments. It is considering pushing out the timing to July 2015 to allow for a phased-in period of implementation.
Blacklist groups in £100,000 payouts
Thousands of construction workers on an industry blacklist have been offered compensation payouts of up to £100,000 each, just as the government launches a review of malpractice by both unions and employers across all sectors. Eight major construction companies have set up a compensation fund for workers whose names appeared on a secret industry “blacklist”. The opening offer from the industry to 3,000 workers ranges from just £1,000 to as much as £100,000 per worker, according to documents seen by the FT.
Bank watchdog attacks governance
Europe’s ability to deal effectively with the next financial crisis risks being undermined by the “impossible” committee-led governance plaguing its banking watchdog, the chief regulator has warned. Andrea Enria, who chairs the EBA, said the benefits of crucial bank stress tests could be impaired if decision-making was not streamlined and nationalist tendencies contained.
Brussels takes dim view of UK scheme
Brussels is threatening to block a subsidy scheme for gas-fired power stations that the Government hopes will keep the country’s lights on. Under coalition plans, gas plants will compete for subsidies to pay them for acting as back-up suppliers when demand is high and the wind is not blowing.
Rugby clubs feel pain of rising rates
England may have lost against the All Blacks, but the country’s top rugby clubs were already reeling, after being hit by a 141 per cent rise in their business rate bills. Resilient attendance figures are being offset by average rates bills for 2013-14 of almost £100,000, according to Valuation Office Agency data.
The Daily Telegraph
Pinewood attempts to save plans
A planning appeal may not be the stuff of cinema blockbusters, but for Pinewood Studios, one will be the dramatic climax of a six-year saga. Pinewood, the historic studios at the centre of the British film industry, faces a battle for its future this week, as it takes on protesters, with a last-ditch effort to save its expansion plans.
Fish fingers on the wane
Sales of the breaded fingers have fallen nearly 5 per cent over the past year to 29,274 tonnes with experts claiming that Mums are buying smaller packs - or serving up chilled fish for the kids. Revenues from have also fallen by 4.1 per cent,according to Kantar.
THE WALL STREET JOURNAL
China airlines to join low-cost market
Taiwan’s China Airlines is set to become the first carrier on the island to join the race in Asia's booming low-cost aviation market, and will make public its plans as early as December, according to the company's chairman.
Wal-mart fails Bangladesh audits
Nearly half the factories in Wal-Mart Stores's initial round of safety inspections in Bangladesh failed their audits and had to make improvements to keep doing business with the giant retailer. Wal-Mart said most of the 75 factories were able to correct the problems or are in the process of doing so.