Banking watchdog: Debt-addicted world has not learned lessons of financial crash June 30, 2014 THE WORLD is still hooked on cheap debt, and its addiction to ultra-low interest rates could undermine the global recovery, the Bank of International Settlements (BIS) warned yesterday. The group of central bankers fears sustained low rates are promoting debt when the world should be weaning itself off credit-fuelled growth. And the continued obsession with [...]
Conservatives rule out all women shortlists for the general election June 30, 2014 THE CONSERVATIVE party will not introduce all women shortlists for the 2015 general election, a well-placed Conservative party source confirmed yesterday. The news comes after the party’s women’s minister Nicky Morgan hinted last week that the Conservatives might consider shortlisting only female candidates in some seats, to boost the number of women in Westminster in [...]
Interest rates could jump back to five per cent – Sir Charlie Bean June 30, 2014 Outgoing Bank of England deputy governor Sir Charlie Bean said yesterday that rates could eventually go back to five per cent, the long-term average during his last interview as an official at the institution. “I think it’s plausible over the very long run that these headwinds will abate. It might well be reasonable to think [...]
Bulgarian men arrested over bank run fears June 30, 2014 Two men were arrested this weekend in Bulgaria, following accusations that they helped to spark bank runs in the country over the last week. The arrests follow a statement from financial authorities, who claimed that the country’s financial system was under attack. The men were arrested in Sofia, Bulgaria’s capital, and Ruse, a smaller provincial [...]
Fund managers now forecast interest hike before election June 30, 2014 A SURVEY of hundreds of UK fund managers suggests the Bank of England will hike interest rates ahead of the next general election in May 2015. Barely a quarter of investors expect that the Bank will hold off until the second half of next year to raise interest rates for the first time since the [...]
Neil Bruce: The SNC-Lavalin boss who snared Kentz Corp June 30, 2014 SNC-Lavalin’s resources president Neil Bruce tells Michael Bow how he helped engineer the Canadian firm’s biggest-ever takeover The Canadian giant acquiring UK group Kentz Corporation is set to save C$30m (£27.5m) in a single stroke by de-listing the FTSE 250 listed group from the London Stock Exchange. SNC-Lavalin, which is on the verge of clinching [...]
AbbVie’s boss Rick Gonzalez jets in to chat up Shire investors about £27bn deal June 30, 2014 The chief executive of an American drug firm chasing UK rival Shire will lay the ground for a fourth bid to buy the group this week by touring City shareholders. AbbVie chief executive and chairman Rick Gonzalez will troop around Shire’s shareholders, which include fund managers like BlackRock and Legal & General Investment Management, to [...]
Barclays case to shine more light on dark pools June 30, 2014 DARK pools could be forced to publish more information to investors following the claims made against Barclays in the US, a top finance professor has predicted. The private exchanges can benefit investors by limiting the amount of information published, allowing them to keep their investment decisions quiet and avoid moving markets with big sales or [...]
Barclays’ Antony Jenkins must show dealmakers some love June 30, 2014 On the day that Barclays felt the full brunt of allegations about its so-called “dark pools” from a New York attorney general, its corporate finance arm in Europe was reporting a significant success. The London Stock Exchange (LSE) announced a merger deal and with it a near £1bn rights issue, solely underwritten by Barclays. This [...]
Confidence of UK firms climbs to 22-year high June 30, 2014 BUSINESSES are at their most confident in 22 years, according to a new report, indicating rapid growth and higher investment for the rest of the year, The latest Business in Britain report, produced by Lloyds, says companies’ optimism is at the highest level since research began in 1992. Currently, 53 percentage points more firms are [...]