James Murdoch to step down as executive chairman of News International February 29, 2012 James Murdoch is to step down as executive chairman of News International, the UK publishing arm of News Corporation. Murdoch, 39, is leaving the role to concentrate on the firm’s global TV business, according to the company. “We are all grateful for James’ leadership at News International and across Europe and Asia, where he has [...]
FTSE flat as ECB pours in more funds February 29, 2012 The FTSE 100 was flat this morning with investors awaiting another injection of cash from the European Central Bank, aimed at propping up the Eurozone. The ECB is expected to pump about 500bn euros (£422bn) into the Eurozone’s financial system to fight the region’s debt crisis, enabling banks to tap as many of the ultra-cheap, [...]
ECB pumps new funds into banks February 29, 2012 Banks grabbed 530bn euros at the European Central Bank’s second offering of cheap three-year funds, fuelling hopes that more credit will flow to businesses and government borrowing costs will ease further. A total of 800 banks borrowed money at the tender, with demand exceeding the 500bn euros expected by traders polled by Reuters and well [...]
Standard Chartered reports record earnings February 29, 2012 Standard Chartered notched up a ninth consecutive year of record earnings in 2011 on the back of buoyant growth in Hong Kong and Singapore, though rising competition for staff pushed up its wages bill. London-based Standard Chartered, which makes more than three quarters of its profit in Asia, said on Wednesday strong growth in both [...]
Eurozone inflation lower than forecast February 29, 2012 Eurozone inflation was lower than estimated in January, data showed, supporting market expectations that price growth will continue slowing as the economy contracts and possibly paving the way for an ECB rate cut. The European Union’s statistics office Eurostat said consumer prices in the 17 countries using the euro fell 0.8 per cent in January [...]
Mortgage lending in surprise lift in January February 29, 2012 Mortgage lending and mortgage approvals for house purchase in Britain posted a surprisingly strong rise in January, official data showed in a sign that the sluggish housing market is improving. The figures support forecasts for a pick-up in consumption this year as the housing market is a vital component of consumers’ wealth in Britain. However, [...]
THE ROW THAT TOPPLED TOP MOBILE BOSS February 29, 2012 Senior exec slams former Everything Everywhere chief EVERYTHING Everywhere, Britain’s biggest network operator, “lost a year” under the leadership of its former boss Tom Alexander, according to an extraordinary outburst by a top executive. Benoit Scheen, France Telecom’s European boss and a member of the Everything Everywhere board, blamed Alexander for failing to make the [...]
Shock as Ireland plots referendum on fiscal treaty February 29, 2012 IRELAND has sparked fresh uncertainty across the European Union by vowing to hold a referendum on the new fiscal treaty. Enda Kenny, the Prime Minister, said he opted “on balance” for a poll after taking legal advice. The arrangements will be made within weeks. Last month Ireland joined 24 other EU states – but not [...]
Last three tussle for top KPMG job February 29, 2012 CORPORATE financier Simon Collins has emerged as one of the three short-listed candidates to become chairman elect at KPMG, the auditing and consulting group. Collins, who is the firm’s global head of transactions and restructuring, joined KPMG from the investment bank Warburg. He is said to be outgoing, part of one of the better performing [...]
Asia hedgies’ boost for City February 29, 2012 LONDON is set to pick up lucrative new work from the boom in the Asian hedge fund industry, according to the authors of a new report. China and Asia’s other emerging economies are expected to drive growth in the size of the global hedge fund industry this year and the skills and location of the [...]
