Are bankers dishonest? New study claims it’s culture, not personality November 21, 2014 The financial industry encourages dishonest behaviour – but the individuals are not themselves inclined to lie – according to a new study of investment managers and traders. The experiment, tantalisingly conducted at an unnamed “major international bank”, has found that bankers are more likely to lie when they think about their jobs than otherwise. [...]
A new “people’s army”? How the Greens could be set to become the new Ukip November 21, 2014 While much of today's media coverage has been focused on Ukip's victory in the Rochester and Strood by-election the "peoples army" are not the only ones on the march. The Green Party has been creeping up in the polls and is now posing to a major threat to Ed Miliband's left flank in England. The [...]
Royal Bank of Scotland overstated its ability to withstand another financial crisis: Share price drops after it is forced to lower stress test ratio November 21, 2014 Royal Bank of Scotland's share price dropped sharply this aftenoon after it was forced to admit it is less able to withstand financial stress than originally stated, revising its figure down to just above the lowest cut off point. The common equity tier one ratio is seen as a key marker of its resilience [...]
Christmas just got tougher for Tesco, Sainsbury and Morrisons: Lidl adds “discount” oysters to its deluxe range November 21, 2014 In a year dominated by the rise of the discount grocer, it's perhaps no surprise that Lidl and Aldi will be pulling out all the stops to bring consumers a bit of low-cost luxury. Lidl, which launched a £5 lobster in 2009, has a track record of doing exactly that but this year it's pulling [...]
Matthew Barnes takes the Aldi reins solo as Roman Heini returns to Germany November 21, 2014 Aldi is restructuring its top team in the UK and Ireland, with Matthew Barnes taking over as chief executive from April next year. Barnes has been joint group managing director for Aldi UK and Ireland, alongside Roman Heini, since 2010. Heini is stepping down from his, instead taking on the position of chairman [...]
UK high-earners mapped: Work in City of London and Copeland to make the most money November 21, 2014 Where are the best places in the UK to work if you want to earn a high salary? Perhaps unsurprisingly, the local authority with the highest average annual wage (median gross annual income) is the City of London. In fact, eight of the top ten are in London. Overall, workers in 122 local authorities earn [...]
HSBC’s private banking arm placed under formal investigation by French authorities November 21, 2014 The Swiss private banking arm of HSBC has been put under investigation in France. French magistrates are looking into whether the bank helped some of it clients avoid making tax payments in 2006 and 2007. Earlier this week it emerged the bank's Swiss private banking arm had been put under investigation for fraud by Belgian [...]
ECB kicks off its asset-back securities purchase programme November 21, 2014 The European Central Bank (ECB) has kicked off its programme to buy asset-backed securities in an effort to stimulate the region's flagging economy. ECB chief Mario Draghi confirmed in September that the bank would start buying asset-backed securities in a programme slated to last "at least" two years. Because of the ECB's collateral rules, the [...]
New newspaper the National will be first Scottish daily to support independence November 21, 2014 The debate over Scotland's future in the United Kingdom is about to become even more intense with the launch of the first Scottish daily newspaper to back independence. The paper will be called the National and is set to be launched on Monday by Newsquest, priced at 50p. The paper's banner will read: "The newspaper [...]
Brixton Village, watch out: Time Out wants to build a massive “hipster hub” in London November 21, 2014 Time Out is branching out. Peter Dubbens, the man behind the magazine, wants to create a huge, 100,000 sq ft "hipster hub" somewhere in central London. The thinking behind the idea, apparently, is to "bring the magazine to life". Property industry magazine Estates Gazette reported this morning that Dubbens has appointed James Andrew International to find [...]