Osborne to hand Carney new powers
George Osborne’s Budget will pave the way for Mark Carney, incoming Bank of England governor, to come to the rescue of the economy as the chancellor sets the scene for a new era of looser monetary policy. Options include giving the monetary policy committee greater time to bring inflation back to the two per cent target, giving the BoE a Federal Reserve-style dual mandate to target both employment and inflation, and even targeting cash spending in the economy rather than inflation.
KPMG at risk of losing HSBC audit
KPMG could lose the biggest audit contract in Britain after HSBC decided to consider bringing in a fresh pair of eyes to vet its accounts. The bank said it would put the contract out to tender for the first time in more than two decades.
Equities rally sparks gold funds sale
Investors are selling gold exchange-traded funds at a record pace as the sharp rally in equities dampens appeal for the precious metal. The funds buy gold and then issue shares and have become one of the most popular ways to invest in bullion.
Revenue to probe £2bn tax scheme
Sports stars including Rory McIlroy and Wayne Rooney are facing a battle with the taxman after Revenue & Customs began investigating £2bn of government schemes to regenerate deprived areas.
Epilepsy monitor to get AIM quote
Electrical Geodesics, a US company that has pioneered technology to scan the brain and identify epilepsy, is planning to list in London in what could be the first life sciences flotation since 2008.
The Daily Telegraph
Deutsche overcharges UK investors
Investors were overcharged millions of dollars in British stamp duty by Deutsche Bank, according to an alleged whistleblower, who claims he was fired after alerting his bosses.
Bersani to clash with Germany
Italy’s Pier Luigi Bersani vowed to break free of the country’s austerity regime as he laid out plans for a centre-Left government, risking a serious clash with Germany and the European Central Bank.
THE WALL STREET JOURNAL
Nasdaq launches private market
Nasdaq yesterday announced that it is launching an exchange for private companies. It will tap the market for shares in companies that aren’t public but have early investors looking to capitalise on demand for startup stocks.
Disney wins executive pay vote
Walt Disney investors narrowly blessed the company’s executive pay plan, while two proposals challenging governance practices failed to garner enough votes.