Citi becomes latest bank to cut weekend work for junior staff January 29, 2014 CITIGROUP will follow in the steps of other major banks this February, as the group encourages junior staff to stay out of the office on Saturdays. According to an email leaked to Dealbreaker, staff in lower-ranking positions will be actively encouraged to stay out of the office between 10 in the evening on Fridays and [...]
Waitrose and Tesco to set up Tube collection January 29, 2014 TESCO and Waitrose are opening six click-and-collect points each in the London Underground this year, as part of TfL’s efforts to get more retailers using the Tube. The supermarkets will follow Asda, which is running a six-month trial in car parks near Tube stations, with plans to open more outlets this year. Tesco will launch [...]
Watchdog objects to Bostock’s dual role January 29, 2014 THE Prudential Regulation Authority (PRA) has reportedly objected to Santander’s hiring of Nathan Bostock as both deputy chief executive and chief risk officer Sky News originally reported the decision, suggesting that the bank will have to hire somebody else to fill the risk role. Bostock came to the bank after just ten weeks at RBS.
Cost of a London home climbs to over £400,000 January 29, 2014 THE AVERAGE price of a London home broke through the £400,000 mark at the end of last year according to official figures published yesterday, while prices across the country continued to grow this month. Two separate surveys – released by the Land Registry and Nationwide – told a familiar story for the residential property market, with [...]
Inside Track: Ross’s brutal shake-up could prove painful for taxpayers January 29, 2014 ROSS’S Brutal Shake-up – come next month, that will be the most appropriate use of the initials of Britain’s most troubled lender. After Monday’s kitchen and bathroom sinking all rolled into one, it’s not difficult to see why. McEwan’s predecessor as chief executive of Royal Bank of Scotland (RBS), Stephen Hester, was fond of describing [...]
Pimco names four more officers January 29, 2014 Pimco, the world’s largest bond fund manager, said yesterday the firm had appointed four additional deputy chief investment officers ahead of CEO Mohamed El-Erian’s departure. Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah, currently managing directors at Pacific Investment Management Co., will join Dan Ivascyn and Andrew Balls as deputy chief investment officers. It [...]
Boeing predicts lower earnings January 29, 2014 Conservative profit and cash-flow forecasts spooked investors in aerospace giant Boeing yesterday, sending the stock down five per cent and overshadowing the company’s strong fourth-quarter profit. The firm said core earnings rose 29 per cent to $1.84bn (£1.1bn) but it was much more cautious about the current year, saying core earnings would rise only about [...]
Grant Thornton go dining with dinos January 29, 2014 IT’S not very often the business glitterati spends a night surrounded by dinosaurs and fossils (well, not of the prehistoric kind anyway) but those who ventured to the Grant Thornton Quoted Company awards last night were sat next to the very finest the Natural History Museum has to offer. The BBC’s Naga Munchetty compered the [...]
Post “Carney in Edinburgh” challenge Canada vs Scotland January 29, 2014 YESTERDAY Mark Carney donned his well-fitting black suit, fired up the economobile and raced up to Scotland for a breakfast meeting with Alex Salmond and a rather lengthy speech at The George Hotel in Edinburgh, to give his tuppence worth on a currency plan for an independent Scotland. Throughout the talk, the Bank of England [...]
RBS accused of vampire behaviour to kill SMEs January 29, 2014 SMALL businesses have been forced into a restructuring unit by RBS, where their assets were stripped and sold on for profit, a government advisor claimed yesterday, calling the lender a “vampire.” The bank denied the claims, arguing there is no evidence of the allegations made by Lawrence Tomlinson to MPs on the Treasury Select Committee. Tomlinson [...]
