Carney worried regulators don’t work together March 17, 2014 THE VARYING arms of the Bank of England will be pushed to work together more closely as part of major reforms expected to be unveiled by Mark Carney tonight. Under Carney the Bank has significant new regulatory powers, and the governor is worried staff in different units are too distant from each other. Last year’s [...]
Row as retail investors denied chance to buy shares in Just-Eat March 17, 2014 BANKERS to Just-Eat, the London-based online food takeaway business, yesterday announced plans to float on the stock market in a deal that will exclude retail investors. The company has chosen to list in London in a confidence boost for the London Stock Exchange but its decision to exclude private investors was met with dismay by [...]
Budget 2014: What to watch out for March 17, 2014 WHO: GEORGE OSBORNEWHEN: 1TOMORROWWHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOWHelp to Buy extended to 2020The government’s flagship equity loan scheme to tackle the housing crisis is to be extended to 2020 for new homes. The Treasury expects this will fund a further 120,000 homes. New garden city at EbbsfleetGeorge Osborne announced a new garden city, the first [...]
Wishes and predictions for Osborne’s budget March 17, 2014 Business and accountancy advisers BDO has drawn up a wishlist for neglected middle-market firms, looking for a tax allowance for spending on factories and a reduction in employers’ national insurance for manufacturers. BDO also believes that the chancellor could reform business rates in a revenue neutral fashion and announce a fresh review. BDO say that [...]
What the other papers say this morning – 18 March 2014 March 17, 2014 FINANCIAL TIMES ATM risk as Windows XP support ends In less than a month, most of the world’s ATMs and a large portion of its computer-based industrial control systems will become a lot more vulnerable to hackers and viruses. On 8 April, Microsoft will stop issuing updates and patches for bugs in its Windows XP [...]
Putin signs Crimea over to Russia as the EU and US issue sanctions March 17, 2014 PRESIDENT Putin has signed Crimea over to Russia and announced it is now a sovereign state, according to the Kremlin. The Russian president is understood to have signed a decree last night recognising the Ukrainian territory as part of Russia, following a widely-disputed vote in Crimea on Sunday. The news comes as President Obama and [...]
Barclays bosses’ bonuses slashed after revenues fall in tough 2013 March 17, 2014 BARCLAYS will today announce smaller share awards for top executives despite the bank increasing its overall bonus pool, as the bank’s profits fell in 2013. The bank’s adjusted profits fell by 32 per cent last year, but the bonus pool increased by 10 per cent to £2.4bn. Chief executive Antony Jenkins defended the move, arguing [...]
Bank of England exec: banks still too big to fail March 17, 2014 THE GLOBAL financial system is still threatened by banks that are “too big to fail”, according to a speech given yesterday by Sir Jon Cunliffe, deputy governor of the Bank of England. Cunliffe, who is responsible for financial stability at the Bank, said: “I do not think we can say with confidence now that we [...]
Stamp duty thresholds have lost home sellers £260m since 2012 March 17, 2014 STAMP duty is distorting the housing market, losing sellers over £260m in the past two years, according to analysis from property website Zoopla. Research conducted by the website demonstrates the effect of the “dead zone” for stamp duty. Since the tax rises on the price of the whole property if it edges over £125,000 or [...]
Moneysupermarket’s founder pockets £108m more in stock sale March 17, 2014 SIMON Nixon is cashing in another £108m of shares in Moneysupermarket, the price comparison website he co-founded, the firm announced yesterday. The entrepreneur has already made around £300m from previous share sales. This new sale of 55m shares represents a 10 per cent stake in the business and will leave him holding just short of 20 [...]