Quins chief is sorry for blood feigning saga August 12, 2009 HARLEQUINS chief Mark Evans has written to the club’s fans to apologise for the blood-feigning affair. Winger Tom Williams was banned for 12 months after being found guilty of faking an injury in against Leinster in April. “We have to accept we have been found guilty of behaviour that cannot be accepted or condoned and [...]
FSA AND TORIES AT WAR OVER BONUSES August 12, 2009 THE FINANCIAL Services Authority (FSA) and the Tories were at loggerheads last night over the regulator’s plans to reform bank bonuses. The FSA, which published its final remuneration code yesterday, faced claims that it had watered down its proposals in the face of pressure from City bankers. But the City watchdog hit back, saying it [...]
Cattermole joins Black Cats August 12, 2009 FOOTBALL: Sunderland last night completed the £6m signing of England Under-21 midfielder Lee Cattermole from Wigan. Cattermole has penned a four-year contract at the Stadium of Light, where he will again work under manager Steve Bruce, who signed him for Wigan from Middlesbrough last summer. The combative 21-year-old is in line to make his Black [...]
Leeds land ex-Quin Gomarsall August 12, 2009 RUGBY UNION: World Cup-winning former England scrum-half Andy Gomarsall has signed for Leeds. Gomarsall, who was released by Harlequins at the end of last season, has agreed a one-year deal with their Premiership rivals. The 35-year-old said: “I considered retiring, but when Leeds got in touch I jumped at the chance to come here.”
SWISS AND US REACH DEAL IN UBS TAX EVASION PROBE August 12, 2009 THE SWISS and US governments have reached a preliminary agreement in the long-running dispute about UBS clients suspected of tax evasion. US Justice Department attorney Stuart Gibson said the two sides had “initialled” a settlement, avoiding a potentially long and costly court case. The details of the deal were not released, although it is thought [...]
On-site visits form part of FSA strategy August 12, 2009 STUNG by criticism that it is being soft on City banks, the Financial Services Authority said yesterday it would shortly be starting on-site visits to look at individual contracts of City bankers. The visits are designed to ensure banks are not taking excessive risks when they draw up their bonuses policy. “We’ve got the toughest [...]
Regulator adopts a measured Code for bonuses August 12, 2009 NEWS that the Financial Services Authority (FSA) wants to influence but not emasculate the bank bonus culture is welcome, but was the only sensible option. The City watchdog has clearly listened to industry concerns, particularly the worry that an excessive clampdown on remuneration would spark an exodus of workers overseas. Jocelyn Mitchell, employment partner at [...]
City up in arms over academics’ calls for a windfall tax on banking bonuses August 12, 2009 LEADING City figures yesterday slammed the idea of a windfall tax on bonuses floated by a group of university professors, labelling it “gratuitous”, “impossible” and “absurd”. The 14 business school academics, writing in a letter to The Guardian newspaper, said money raised should be injected into public services, to reimburse taxpayers for the billions used [...]
Fed sounds an upbeat note August 12, 2009 THE US Federal Reserve yesterday sounded a cautiously optimistic note about the US economy as it said it would keep its key interest rate unchanged at between 0 and 0.25 per cent. It also announced it would extend the government’s $300bn (£182bn) programme to buy Treasury bonds until October. The bond purchase, part of the [...]
Insight sold to BNY Mellon August 12, 2009 LLOYDS Banking Group has confirmed that it is to sell its Insight Investment unit to Bank of New York Mellon in a £235m cash-plus-shares deal. The bank, which has been conducting a review of its asset management businesses with an eye to disposals, said it had reached an agreement in principle with BNY Mellon, ending [...]
