HSBC: There’s no need to fear a strong pound January 27, 2014 EXPORTERS should benefit from a higher sterling because British firms buy as much from abroad as they sell, HSBC said in a report today. Traditionally a weak pound is thought to benefit exporters because it reduces the price of their goods to overseas buyers and so makes them more competitive. But UK manufacturers are now [...]
Coalition plans shake up of UK pension system January 27, 2014 WORKERS could be given the opportunity to boost their pensions under proposals being considered by the government to tackle falling retirement incomes. Steve Webb, the UK’s pensions minister, wants to shake up the pensions market by introducing collective defined contribution schemes (CDCs), similar to those already used in the Netherlands and Denmark. The approach would [...]
What the other papers say this morning – 27 January 2014 January 27, 2014 FINANCIAL TIMES Citigroup bankers to get cash bonuses Citigroup is set to pay most of its investment bankers in Europe at least half of their bonuses in cash this year, underlining how US banks continue to be much more generous than their European rivals. At Citi’s Europe, Middle East and Africa unit, its top rewarded [...]
Lloyds latest to suffer hitch as ATMs go down January 27, 2014 THOUSANDS of Lloyds customers were frozen out of key banking services yesterday afternoon and evening as the bank’s IT systems went down. The crash hit all of the group’s main brands including Lloyds, TSB, Halifax and Bank of Scotland. Around half of the group’s 7,000 cash machines went down, and some customers were affected until [...]
Google and Samsung sign up for a 10-year patent licensing deal January 26, 2014 Google and Samsung Electronics, which are frequently involved in patent infringement lawsuits but not against each other, yesterday announced they have reached a global patent cross-licensing agreement. The deal covers patents currently owned by the companies, as well as any filed in the next 10 years, the companies said in a release. Financial terms were [...]
Dubai shares lead losses across region as UAE reassures on Sheikh January 26, 2014 Shares in Dubai and Abu Dhabi tumbled yesterday, leading a region-wide decline and following news that the President of the United Arab Emirates had suffered a stroke. Dubai’s bourse, which has been driven to hefty gains by local retail investors, fell 2.2 per cent – recording its biggest one-day loss in more than two months [...]
British banker loses Singapore job January 26, 2014 BRITISH banker Anton Casey has been fired from his job and reportedly fled to Australia after his comments about “poor people” and the “stench of public transport” in Singapore created a furore. Crossinvest Asia said it had “parted ways” with its employee. Casey, 39, is pictured here with his wife Bernice, a former Miss Singapore.
Cameron pledges £2000 growth vouchers to 20,000 small firms January 26, 2014 THE PRIME Minister will pledge additional support for small businesses in a speech at the Federation of Small Business’s (FSB) inaugural policy conference this morning. David Cameron will promise £2,000 worth of expertise and advice to 20,000 small businesses, as part of a new growth voucher pilot scheme championed by Lord Young, the PM’s enterprise [...]
As Miliband also sets sights on the SME vote January 26, 2014 SPEAKING after David Cameron’s keynote speech at the Federation of Small Businesses this morning, Labour’s Chuka Umunna will announce that the party would set up a Small Businesses Administration (SBA) if it wins the 2015 general election. The new forum would work across government departments to promote the small business agenda. “We need government to [...]
HSBC changes rules after block on withdrawals January 26, 2014 HSBC staff should not deny customers access to their own cash unless they suspect financial crimes, the bank told employees yesterday. It comes after complaints that some customers were not allowed access to funds. As part of its compliance controls the bank asks customers why they want to take out large sums of cash, and [...]
