Hull press ahead with Tigers rebrand December 11, 2013 FOOTBALL: Hull City owner Assem Allam has defied fan opposition by formally applying to the Football Association to change the Premier League club’s name to Hull Tigers. The change would take effect next season and anger supporters who have campaigned to retain their current name under the slogan “City Till We Die”. Allam, who took [...]
Johnson: Athletics will never be clean December 11, 2013 ATHLETICS: Track great Michael Johnson believes athletics will never be clean and that the Olympics is the only thing keeping the sport alive. “In real life you’ll always have people who cheat. It’s unrealistic to expect athletics to be drug-free,” he said. “Without the Olympics, athletics would be dead. We need to look at a [...]
The queen of Motown December 10, 2013 GENERAL Motors named Mary Barra as its next chief executive yesterday, making her the first woman to hold the top job in the firm’s 105-year history and one of the most powerful female figures in global business. Barra is currently a senior vice president at GM, responsible for global product development. She will replace current [...]
A self-reflective day December 10, 2013 WORLD leaders gathered alongside members of the South African public yesterday to celebrate the life of Nelson Mandela – but the event was somewhat overshadowed by a photo of David Cameron, Barack Obama and Danish PM Helle Thorning-Schmidt taking a selfie in the stands (left). President Barack Obama earlier led tributes to Mandela at the service in [...]
You always spend your own money better than any government December 10, 2013 IT was Milton Friedman who put it best. There are four ways to spend money, he once wrote. You can spend your own cash on yourself – you have a great incentive to economise and get the best bang for your buck. You can spend your own money on somebody else, perhaps by buying your [...]
UK banks get break from Volcker’s toughest plans December 10, 2013 BRITISH banks with US arms will be allowed to trade in UK government bonds on their own books, US authorities revealed yesterday, diluting earlier plans to ban the transactions. The incoming Volcker Rule is designed to stop banks trading on their own behalf on many financial markets, in a bid to stop what critics believe [...]
What the other papers say this morning – 11 December 2013 December 10, 2013 FINANCIAL TIMES First Group attacked by US activist FirstGroup, the UK bus and rail operator, is under attack from one of its biggest shareholders, which has called for the sale of its US businesses to pay down debt. Sandell Asset Management, a hedge fund with a stake of about three per cent, has written to [...]
US budget plan aims for cross-party support December 10, 2013 US POLITICIANS from both the country’s major political parties announced a suggested budget deal yesterday, with the aim of avoiding another government shutdown. Congressman Paul Ryan and senator Patty Murray announced the agreement in Washington yesterday, revealing an $85bn (£51.56bn) plan, including a $63bn reduction in automatic spending cuts. The rest of the package is intended to [...]
Q and A: What’s the Volcker rule about? December 10, 2013 Q What does the rule stop banks from doing ? A The strictures put a number of limits on short-term proprietary trading of securities, but these will not apply in cases where the bank is underwriting. Short-term trading for a bank’s own account will still be an option if they can prove they are hedging [...]
RBS finance chief Bostock resigns after just 10 weeks on bank board December 10, 2013 THE FINANCE director of the Royal Bank of Scotland (RBS) is on his way out of the bank, barely two months after starting in the job. Nathan Bostock, who moved to RBS at the beginning of October, is set to quit his role and head to Santander. The RBS board confirmed last night that they [...]
