Royal Mail float review to back Cable price view March 31, 2014 BUSINESS secretary Vince Cable was right to dismiss calls by some investment banks to value Royal Mail at billions of pounds more than the firm’s eventual float price, the spending watchdog is expected to say this week. The National Audit Office (NAO) will tomorrow publish the findings of its investigation into the government’s privatisation of [...]
What the other papers say this morning – 31 March 2014 March 31, 2014 FINANCIAL TIMES SocGen accused over Libya deals The Libyan Investment Authority has accused Société Générale of helping to funnel bribes worth tens of millions of dollars to close associates of Saif al-Islam, the son of former Libyan leader Muammer Gaddafi. The claim was made in a $1.5bn lawsuit filed against the French bank in London’s [...]
Banks may win reprieve from market probe March 31, 2014 THE BANKING industry is changing so dramatically that the new competition regulator may choose not launch an investigation into the market, City A.M. understands. The move comes despite calls from Labour’s Ed Miliband to shake up the sector. The opposition leader wants to create two new banks – possibly carving them out of Lloyds and [...]
Labour eyes cut to tuition fees as repayment rate continues to fall March 31, 2014 THE LABOUR party is set to confirm a cut in tuition fees that could reduce what students pay by thousands of pounds. Initial plans could see fees slashed by £3,000 a year to £6,000, with suggestions they could fall as low as £4,000 in the future. Douglas Alexander, shadow foreign secretary, told the BBC’s Andrew [...]
US and Russia work on easing Ukraine crisis March 31, 2014 AMERICA’S surprise meeting with Russian officials in Paris last night yielded some common ground over the annexing of Crimea, though tensions remain high. US Secretary of State John Kerry, who stopped off in France following a Middle Eastern trip, said he had stressed during four hours of talks with the Russians that the country’s actions [...]
Buyers struggle to raise deposit as market soars March 31, 2014 HOUSE buyers across England and Wales are paying the highest proportion of their property’s asking price since 2004, with the average house going for more than 99 per cent of the asking price in London. In March so far, buyers are shelling out 96.2 per cent of property asking prices, according to Hometrack’s assessment of [...]
Prime London prices up by more than two thirds in past five years March 31, 2014 PRIME central London prices have risen by more than two-thirds since their post-Lehman Brothers low, according to new research that looks at how recent political events, as well as economics, have affected prices. According to Knight Frank’s central London index out today, prices have risen 68 per cent since the bottom of the market in [...]
RBS close to hiring Credit Suisse banker as its new finance chief March 31, 2014 STATE-BACKED RBS is thought to be in advanced talks to poach Credit Suisse banker Ewen Stevenson as its new finance chief. The bailed-out bank is expected to make an announcement within days, according to sources cited by Sky News. The appointment, which is subject to approval by the Prudential Regulation Authority, will end a search [...]
Mobile banking transactions doubled in 2013 March 31, 2014 MORE than 2bn banking transactions will be carried out using mobile apps this year, the British Bankers’ Association said today, in a new landmark for the industry. The number of transactions on mobile phones and other devices more than doubled last year to 18.6m per week, and the pace is accelerating. Currently 5.7m transactions are [...]
Davey defends investment in UK energy amid blackout warnings March 31, 2014 ED DAVEY yesterday defended the investment climate for the UK energy sector, amid industry warnings that a competition probe into the market will delay projects and increase the risk of blackouts. “We have huge amounts of companies wanting to invest,” the energy secretary said on the BBC’s Sunday Politics. “If you look at independent analysis, [...]
