Silicon Roundabout guru Tim Luke back to Barclays’ investment bank July 1, 2014 Top technology analyst Tim Luke is heading back to Barclays this month, the bank announced last night, after three years as an adviser to Prime Minister David Cameron. Luke has been re-hired by the bank as managing director and vice-president of technology, media and telecomms (TMT) in New York. He worked at Lehman Brothers and [...]
Goldman Sachs fined for failing dark pool customers July 1, 2014 Goldman Sachs was yesterday fined $800,000 (£466,200) after investors using its dark pool trading platform received a deal on their transactions. Hundreds of thousands of trades over an eight-day period in 2011 were processed at a price which was not the best on offer, meaning customers lost out, the Financial Industry Regulatory Authority (FINRA) said. The [...]
What the other papers say this morning – 02 July 2014 July 1, 2014 FINANCIAL TIMES Facebook faces experiment probe A UK data regulator is investigating whether Facebook broke data protection laws when it allowed researchers to conduct a psychological experiment on users of the social network. The Information Commissioner’s Office said it was probing the experiment and planned to ask Facebook questions after widespread outrage when it was [...]
JP Morgan’s Jamie Dimon has throat cancer July 1, 2014 Chief executive of JP Morgan Jamie Dimon has curable throat cancer, according to reports in the US late last night. “The cancer was caught quickly, and my condition is curable,” Dimon told investors and staff in a note, explaining that he will now face eight weeks of radiation and chemotherapy treatment to tackle the disease. [...]
Insurers at risk from annuity rule July 1, 2014 Britain’s biggest life insurers are at risk of failure after the new annuity rules cut down a key source of revenue for the firms, the Bank of England’s Andrew Bulley said yesterday. “Significant potential issues include whether the viability of existing business models will be affected by the changes,” he said. Retirees no longer have [...]
ING increases share offer July 1, 2014 Dutch financial services company ING Group yesterday announced that it had increased by 10 per cent to 77m the number of ordinary shares it would list in its insurance arm, NN Group, due to “significant” investor demand. The shares are due to begin trading in Amsterdam today, in one of the largest floats in Europe [...]
Sarkozy held by French police July 1, 2014 Nicolas Sarkozy yesterday became the first former French President to be held in police custody, when he turned himself in for questioning in a corruption probe that could scupper his plans of making a political return. Police are trying to establish whether he promised a plum job in Monaco to a judge in return for [...]
Labour’s cities plan marred by statistics row July 1, 2014 LABOUR leader Ed Miliband’s plan to devolve financial power to cities and regions around the UK was marred yesterday by a row over statistics. Miliband launched the policy in Leeds with Lord Adonis, following a year-long review into how to boost the UK’s regional economies and bring them into line with London. The pledge could [...]
Architects in call for green belt reform to tackle housing crisis July 1, 2014 REFORMS to the green belt system are likely to be required to accommodate the extra houses the UK must build each year, according to new research this morning. The Royal Institute of British Architects (RIBA) joined a growing chorus of voices calling for reform to the green belt system, suggesting greenfield land could be reclassified [...]
Export English law, City told July 1, 2014 London will keep its place as the world’s top financial centre only if it worked with new hubs, the head of campaign group TheCityUK said yesterday. If the UK exported laws to centres such as Dubai and Shanghai, it could further its lead, Chris Cummings said. “Key for any aspiring financial centre is its approach to [...]