US reaches a deal to avert fresh shutdown January 13, 2014 NEGOTIATORS in the US Congress have reached agreement on a $1 trillion spending bill aimed at keeping the federal government open through 30 September, Senate Appropriations Committee chair Barbara Mikulski said last night. A bill was due to be filed overnight for final passage on Saturday, and would ease some of the so-called sequester cuts [...]
Home Retail to pick Walden January 13, 2014 HOME Retail Group was last night poised to appoint Argos managing director John Walden as group chief executive. Walden, who runs the firm’s Argos business, could be announced this week as the new boss, according to Sky News. Terry Duddy said several months ago that he planned to quit. Home Retail Group declined to comment.
Europe probes Bskyb’s exclusive film deals January 13, 2014 THE EUROPEAN Commission yesterday launched an investigation into the pay television market, covering firms including BSkyB. The EC is concerned customers are paying for exclusive access to films, like the Bourne Legacy, pictured, but are unable to watch those services when they travel to other states. BSkyB declined to comment on the probe.
Co-op clinches S&P upgrade January 13, 2014 THE CO-OP Group is in better shape than expected after the rescue of its banking arm cost less than feared, credit ratings agency Standard & Poor’s said yesterday. S&P raised the Co-op Group’s credit rating from B to B+, with a stable outlook. A £1.5bn capital hole was uncovered at the bank last summer, and the [...]
Ex-Rabobank traders charged January 13, 2014 Three former traders at Rabobank were criminally charged yesterday with manipulating the Yen Libor benchmark interest rate, the US Department of Justice said. The trio include Briton Paul Robson, as well as Australian and Japanese ex-employees of the Dutch bank. Charges included alleged wire fraud and conspiracy to commit wire fraud, the Department said. Rabobank [...]
HomeServe set for FCA fine but investors pile in January 13, 2014 HOME repair service HomeServe was yesterday facing a regulatory fine six times larger than it originally hoped over historic claims it mis-sold products to consumers. The FTSE 250-listed company revealed that the Financial Conduct Authority (FCA) had proposed a penalty of £34.5m, much larger than the £6m the company had originally made provisions for in [...]
Royal Mail reshuffles the pack after operations chief departs January 13, 2014 ROYAL MAIL yesterday ended a chapter of its transition to a listed company, after the director credited with overhauling its key delivery operations announced his resignation from the company. Mark Higson, managing director for operations and modernisation, will leave the business in July after six years at the postal services firm. His replacement, director of [...]
Guggenheim plots Euro real estate offensive January 13, 2014 GUGGENHEIM Partners, the US asset management giant, yesterday named its first head of real estate and infrastructure investment in Europe, amid a growing push by US investors into alternative investments. The company, which manages $190bn (£116bn) of assets, has appointed former Heron International deputy chief executive Jonathan Goldstein to help source investments across Europe and [...]
Derivatives guru exits trade body January 13, 2014 VETERAN trade body chief Anthony Belchambers yesterday said he will step down from the influential Futures and Options Association (FOA) trade body after more than 20 years leading the group. Belchambers, founder of the FOA and a seasoned champion of the derivatives sector, will take on a pared-back role as special adviser when he leaves [...]
JO Hambro name vanishes as the Waverton flag is hoisted January 13, 2014 JO HAMBRO Investment Management (Johim), the wealth manager formerly owned by Credit Suisse, yesterday announced it was rebranding as Waverton Investment Management. Johim, which was co-founded in 1986 by Richard Hambro, was originally named after Hambro’s father, Jocelyn Olaf Hambro. The re-branding takes its name from the family home of the Hambro banking dynasty, Waverton, [...]
