EU launches new restrictions on proprietary trading January 29, 2014 The EU has unveiled plans for new restrictions on proprietary trading as part of a package of reforms to Europe's banking sector. The largest banks will face bans on proprietary trading in financial instruments and commodities. The new rules are intended to reform bank structures and reduce risk in the Europe's financial system after years [...]
Germany’s Merkel is getting us all worried about the Eurozone again January 29, 2014 Silence is golden, so they say, and this certainly seems to have been the case for the troubled Eurozone in recent times. Since the summer of 2012, when its central bank governor Mario Draghi promised to do “whatever it takes” to save the currency, there has been less paranoia surrounding the bloc. Things have quietened [...]
ITV to bring Britain new pay-TV drama channel January 29, 2014 Britian's about to get a new pay-TV channel that's dedicated to British drama. As part of a new four-year partnership between ITV and BSkyB, ITV is launching Encore, which’ll be exclusive to Sky’s satellite and online platforms. ITV Encore will broadcast re-runs of shows previously aired by the provider, including hits like Downton Abbey (cast [...]
South Africa’s is the third big central bank to hike rates this week. Here’s why January 29, 2014 South African Reserve Bank chief Gill Marcus has given investors a bit of a shock. After Turkey and India saw rate hikes yesterday, South Africa's policymakers have made a similar call. They've hiked their repo rate by 0.5 percentage points to 5.5 per cent. Markets suspected a hike when Marcus announced big upward revisions to [...]
Regulator who championed bans on regulators joining banks takes top role at Santander January 29, 2014 A former head of the Federal Deposit Insurance Corporation (FDIC) who previously championed the cause of banning regulators from taking jobs in firms they previously regulated, has performed an extraordinary volte-face and joined the board of one of Europe's biggest banks. Sheila Bair said in an emailed statement: I hope that my service on the [...]
Google days away from clinching EU antitrust probe settlement January 29, 2014 The three-year EU antitrust probe into Google is nearing an end, according to Reuters sources. The internet giant and EU regulators are close to settling the investigation, which was looking into the company’s suspected anti-competitive behaviour. Google has, say the sources, offered to improve concessions to reduce competition fears. Google’s last offer, made in December, [...]
5 things you didn’t know about new Sainsbury’s boss Mike Coupe January 29, 2014 Sainsbury's CEO Justin King is leaving the supermarket in July – but what do we know about his replacement and current commercial director, Mike Coupe? 1. A country boy at heart, Coupe was born in Watford in 1960 but was brought up in West Sussex. His mum was a housewife and his dad was an [...]
Tesco and Waitrose set to open Tube shops January 29, 2014 Tesco and Waitrose are opening six click-and-collect points each in the London Underground this year, as part of TfL’s efforts to get more retailers using the Tube. The supermarkets will follow Asda, which is running a six-month trial in carparks near Tube stations, with ambitions to open more outlets. Tesco will launch at station car [...]
Samsung takes on Apple with dedicated Carphone Warehouse stores January 29, 2014 Samsung and Carphone Warehouse have signed an agreement for the high street retailer to convert 60 of its stores across Europe into dedicated Samsung stand-alone stores. Of the 60 stores, that will stock only Samsung products, around 20 will be opened in the UK with the others spread across Ireland, Germany, Spain, Portugal, Sweden and [...]
Mulberry profit warning sends shares tumbling 27pc January 29, 2014 Luxury brand Mulberry has issued a surprise profit warning this morning, after Christmas trading in the UK got worse and wholesale cancellations in Korea were worse than anticipated. Shares have nosedived on the news, currently down well over 25 per cent. The fashion house, which has furnished the likes of Victoria Beckham and Katherine Jenkins [...]