What the other papers say this morning – 05 September 2013 September 4, 2013 FINANCIAL TIMES Dyson to hire hundreds of recruits Dyson has launched its biggest recruitment drive yet with plans to triple the number of engineers taken on this year in the latest sign of a rebounding British economy. The maker of bagless vacuum cleaners, which employs almost 4,500 across three sites in the UK and Asia, [...]
Obama backed by Senators on Syria attacks September 4, 2013 PRESIDENT Barack Obama last night won the backing of a key group of US Senators, paving the way for a full vote on military intervention in Syria. The Committee on Foreign Relations backed the President’s motion – which would allow air strikes for two months and bans US troops entering the country on the ground – by a [...]
City watchdog is considering regulating Bitcoin currency September 4, 2013 THE FINANCIAL Conduct Authority is actively considering regulating the virtual currency Bitcoin, it was claimed yesterday. Tom Robinson, co-founder of Bitcoin currency exchange Bitprice, told City A.M. that the regulator – which has until now watched the fast-growing currency from the sidelines – has taken a more active interest in recent weeks. “We know they’re looking at Bitcoin [...]
Foresight plans to raise £200m in London listing of solar fund September 4, 2013 ALTERNATIVE asset manager Foresight plans to float its solar fund on the main market of the London Stock Exchange in a bid to raise up to £200m. It is hoping to launch the float later this month with a listing expected as soon as October. Retail investors, as well as non-specialist institutions, will be able [...]
Sir Stuart Rose joins HSBC as an advisor September 4, 2013 FORMER Marks & Spencer boss Sir Stuart Rose has taken on an advisory role at banking giant HSBC. The retail veteran has recently accepted a part-time role on the European advisory council in HSBC’s investment banking division. The council has around six members from different sectors that HSBC can draw on for advice, including BAE [...]
Fraud watchdog set to prosecute Olympus’ Gyrus September 4, 2013 OLYMPUS, the famous camera-making brand, will be prosecuted by the UK’s Serious Fraud Office (SFO) for a case of wrongdoing linked to the huge accounting scandal that rocked the firm two years ago. The charges relate to Olympus’s British unit, Gyrus, and concern accounts being falsified. Gyrus has been informed of four charges, and Olympus [...]
EU plans crackdown on money funds to enforce liquidity levels September 4, 2013 MONEY market funds (MMFs) will have to publish more data on their investments under new EU rules published yesterday. The proposals will also restrict the type and size of investments the funds can make. MMFs aim to keep clients’ money safe and liquid by investing in ultra-safe securities in large, liquid markets, at the cost [...]
Barclays sets date for £5.8bn rights issue September 4, 2013 THE BIGGEST bank fundraising round since the financial crisis will take place on 13 September, Barclays announced yesterday. The lender is raising £5.8bn in a major rights issue, shoring up its capital position after regulators argued the bank needed to improve its leverage ratio. Existing shareholders will get the first chance to buy as they [...]
Pickles steps in to review Shell Centre scheme September 4, 2013 COMMUNITIES Secretary Eric Pickles yesterday said he would review the redevelopment of Shell’s headquarters on the south bank, casting doubt over the future of the £1bn scheme. The scheme on London’s South Bank is being developed by Canary Wharf Group and Qatari Diar and will see 877 new homes, offices and shops built on the [...]
Banks’ £500,000 compensation bill for just 10 interest rate swaps September 4, 2013 BRITAIN’S biggest banks have paid compensation on just 10 cases of interest rate swap mis-selling so far, the Financial Conduct Authority (FCA) revealed yesterday. The lenders have taken on 2,800 staff to review more than 30,000 cases, which often involve small firms who wanted protection against interest rate rises. However sometimes they had no choice whether [...]