Germany sees growth slow in third quarter November 14, 2013 Germany's economy slowed in the third quarter, in line with expectations. In a flash estimate released by the federal statistics office, GDP increased by 0.3 per cent in the three months ended in September, down from 0.7 per cent growth in the second quarter.
An evening celebrating all the very best of London business November 13, 2013 LAST night was an occasion to remember: City A.M.’s fourth annual awards celebrating the best and brightest of London’s business and financial communities. Over 480 guests from around 100 different firms attended the celebration, held at the Grange Hotel in St Paul’s. There was great food, music and company, as well as a rousing speech [...]
$1.6 trillion: The shocking amount governments have gained from quantitative easing November 13, 2013 HALF a decade of rock-bottom interest rates and loose monetary policy have delivered an astonishing windfall to governments around the world, dramatic new research released today reveals. By contrast, older savers with significant assets have been hammered, losing out on huge amounts of interest. Younger households, which are net borrowers have benefitted. While contrary to [...]
Easyjet boss and Experian Triumph November 13, 2013 EASYJET boss Carolyn McCall claimed the top prize at City A.M.’s awards last night, taking home the coveted title of Personality of the Year after steering the airline to record profits. She shared the spotlight with credit information firm Experian, which won the Business of the Year title. Our fourth annual awards were hosted by [...]
Carney hails recovery as unemployment falls November 13, 2013 INTEREST rates could rise as soon as early 2015 – a year earlier than previously planned – thanks to plunging unemployment and a strong start to the recovery, the Bank of England said yesterday. Just three months ago the Bank thought it would take until 2016 before unemployment falls below seven per cent, its threshold [...]
What the other papers say this morning – 14 November 2013 November 13, 2013 FINANCIAL TIMES Cameron calls for cuts in phone bills David Cameron is urging mobile phone companies to give customers a better deal as the prime minister fights to win ground in the battle over the rising cost of living. Downing Street has instructed Maria Miller and her officials in the Department for Culture, Media and [...]
Sants leaves Barclays after just 10 months November 13, 2013 FORMER top regulator Sir Hector Sants yesterday resigned from Barclays, a month after going on sick leave. The ex-Financial Services Authority (FSA) boss joined Barclays 10 months ago as head of compliance and government and regulatory relations. But he went on leave last month suffering from stress and exhaustion, and has since decided to leave [...]
Brussels to put the spotlight on German current account surplus November 13, 2013 THE EUROPEAN Union is launching an inquiry into the size of Germany’s current account surplus, following claims that the country’s strong exports may be causing imbalances across the continent. Germany could potentially face a fine of 0.1 per cent of GDP – around €2.5bn (£2.1bn) – if the study finds that the surplus is excessive, and if [...]
Aberdeen said to rule out big change in bid November 13, 2013 ABERDEEN Asset Management has ruled out making a cash offer for Scottish Widows Investment Partnership (SWIP) even if that means losing out in a bid battle for the investment business currently owned by Lloyds Banking Group, sources close to the talks said last night. Last month the group, whose chief executive is Martin Gilbert, announced [...]
Union mulls strike over cap on Lloyds pension contributions November 13, 2013 LLOYDS Banking Group could have a strike on its hands as unions consult thousands of staff on a new cap to pension contributions. Up to 35,000 workers are still contributing to final salary schemes – closed to new entrants more than a decade ago – and the bank is taking action to try to limit [...]