FSA fines up by 514 per cent June 7, 2009 The Financial Services Authority (FSA) has delivered on its vow to toughen up on market abuse, fining companies and individuals a record-breaking total of £27.3m in the year to 31 March, a 514 per cent increase on the previous year. Over the period, the regulator prohibited 46 individuals or companies from carrying out regulated activity [...]
Premiership and NBA hold talks June 7, 2009 Representatives from the Premier League and US basketball organiser the NBA have held talks in London to discuss a potential marketing and commercial link-up. The world’s two most popular sports leagues are understood to be identifying ways in which they can work together as they expand internationally. The NBA is keen to discuss the matter [...]
Barclays eyes up a stake in BlackRock June 7, 2009 BARCLAYS was last night awaiting an offer from Bank of New York Mellon for Barclays Global Investors (BGI), as US firm BlackRock edged towards the brink of a cash-plus-equity deal for the asset management unit. Barclays and BlackRock are in talks over a deal that would see the bank merge BGI with BlackRock and take [...]
Board reshuffle puts pressure on BoA’s Lewis June 7, 2009 BANK of America (BoA) has appointed four outside directors to bolster its board’s banking and financial expertise, after US regulators pushed the nation’s largest bank to improve governance after a federal bailout. The shake-up increases pressure on chief executive Ken Lewis, who was stripped of his role as chairman in April after a surge in [...]
Deloitte on the touchline as Setanta heads for full-time June 7, 2009 STRUGGLING sports broadcaster Setanta could be forced to go into administration this week, as discussions with investors and rights holders have failed to secure a rescue deal. Accountancy firm Deloitte is on standby to flip the switch on the Irish broadcaster, which has been struggling for months to raise new capital to enable it to [...]
Sugar keen to keep TV role June 7, 2009 SIR ALAN Sugar will take his lead from Andrew Lloyd Webber – created a Tory peer in 1997 – when he hosts major BBC show The Apprentice while serving as a Labour peer, aides to the tycoon remarked to City A.M. yesterday following Tory complaints. A spokesman for Sugar, set to be made Lord Sugar [...]
Government debt raising aided by low interest rates, says BIS June 7, 2009 GOVERNMENTS can continue raising long-term debt in the knowledge that central banks’ monetary policy will keep short-term yields anchored at low levels, according to a Bank for International Settlements (BIS) study. Central banks and treasuries have forged closer working relationships since the financial crisis erupted almost two years ago and will continue to maintain these [...]
DEUTSCHE KEEPS ITS MAN June 7, 2009 DEUTSCHE Bank’s star performer Anshu Jain has pledged his loyalty to the bank, despite rumours of a summer move to either Citigroup or Barclays. Jain, who has also advised the government on the financial crisis, is believed to be Deutsche’s top earner and was recently elevated to the bank’s board. He was thought to have [...]
BA pilots set for pay cut as airlines slump June 7, 2009 BRITISH AIRWAYS’ (BA) pilots will vote this week on whether to take a voluntary pay cut, after the airline’s chief executive Willie Walsh said it was in a “fight for survival”. The carrier, which has reported record losses, said yesterday that union talks would “step up” this week, as pilots are balloted on how BA [...]
Vodafone row with Carphone resolved June 7, 2009 VODAFONE Group is expected to resume a sales agreement with Carphone Warehouse, ending a three-year dispute. It is understood that the deal would result in Vodafone mobile contracts being sold in Carphone’s 800 UK stores for the first time since 2006 when Vodafone switched to an exclusive agreement with Phones4U. Carphone said on Friday that [...]
