Bank of England’s new interest rate norm not the same as the old – Mark Carney June 27, 2014 Mark Carney, the governor of the Bank of England, today suggested that interest rates may be heading for a "new normal" of 2.5 per cent, rather than the historical five per cent. Carney was decidedly vague regarding when this norm might be reached, suggesting 2017 as a possible date. He stressed that a mid-term norm [...]
European leaders nominate Jean-Claude Juncker as new Commission President June 27, 2014 EU leaders agreed to nominate Jean-Claude Juncker as the new European Commission President today, despite a last ditch effort from Prime Minister David Cameron to reverse the decision. Cameron launched an impassioned plea for leaders to reconsider the selection, calling it a "sad moment" for Europe and expressing his disappointment that it had come to [...]
Obama requests $500m to arm Syrian rebels June 27, 2014 Obama has asked congress for $500m to arm and train “moderate” Syrian rebels, in an attempt to bolster defence against Bashar al-Assad's forces, the White House has said. If approved, they hope that the aid will also help to counter militant groups such as Isis, which has captured much of the northern part of Iraq, [...]
David Cameron unapologetic about tough stance on Jean-Claude Juncker June 26, 2014 Prime Minister David Cameron has said he is “unapologetic” about the tough stance he has taken in opposing Jean-Claude Juncker as a candidate for the top job in Europe. Speaking to journalists ahead of a key summit in Belgium last night Cameron said: “I am completely unapologetic about standing up for an important principle in [...]
Barclays’ Antony Jenkins under fire as share price plunges 6.52 per cent June 26, 2014 Barclays shares dived yesterday as shareholders panicked that the lender could face another huge legal bill over claims it lied to investors using its dark pool trading facilities. It is the latest in a series of scandals hitting the bank, and these claims are particularly damaging as the alleged wrongdoing occurred on the [...]
Boris Johnson’s Barclays bikes could be getting an animal print paint job June 26, 2014 When Barclays hands over the reins of its Boris Bike sponsorship next year it could well be passing them to an east London toy maker. TellTails is hoping to raise £37.5m on crowdfunding site Indiegogo to give each bike an animal print paint job and tail. We think they’re rather fetching… From the [...]
There’s a silver lining to Britain’s certain Juncker defeat June 26, 2014 THINGS aren’t looking too rosy for David Cameron in the EU – or at least for the short term. He is heading towards defeat at today’s European Council Summit, as it looks almost certain that EU leaders will elect the former Luxembourg Prime Minister Jean-Claude Juncker as the president of the European Commission. The series [...]
Martin Sorrell under fire as WPP clashes with investors June 25, 2014 Advertising titan WPP clashed with investors at its annual meeting yesterday after nearly 30 per cent of shareholders failed to support chief executive Sir Martin Sorrell’s £30m pay package. Sorrell’s total pay for 2013 shot up by 70 per cent, nearing to £29.8m, making him the highest paid executive in the FTSE 100. At the [...]
Reprieve for Cameron as EU’s leaders agree to vote on Jean-Claude Juncker June 25, 2014 David Cameron has been dealt a reprieve in his bid to block the appointment of Jean-Claude Juncker to the role of EU commissioner, after both German chancellor Angela Merkel and Prime Minister Rutte of the Netherlands said they would back a vote if agreement cannot be reached between European leaders at a key summit this week. [...]
McEwan’s turnaround plan wins backing of RBS shareholders June 25, 2014 INVESTORS overwhelmingly backed RBS chief Ross McEwan’s plans at his first annual general meeting at the top yesterday. More than 99 per cent backed the remuneration report, the remuneration policy and the re-election of McEwan to the board. Other banks had seen substantial rebellions this year, making RBS stand out for the high degree of [...]