Osborne backs simpler visas for Chinese tourists to visit the UK October 13, 2013 CHANCELLOR George Osborne will today announce the extension of Britain’s super priority visa scheme to China, enabling wealthy tourists to receive their papers within 24 hours. Osborne, currently on a trade mission to China, will also back the extension of the VIP visa service – which sees British officials visit Chinese businesspeople in their offices [...]
Race on to stop EU cap on fund managers’ pay October 13, 2013 OPPONENTS of a cap on fund managers’ bonuses have just five months to finalise and pass legislation if they are to minimise the risk of the pay limits coming in, analysts warned yesterday. The Lithuanian presidency of the EU wants to prioritise to Ucits V directive, which covers funds. As the European Parliament narrowly voted [...]
Tucker: US banks would not need taxpayer bailout October 13, 2013 FIVE years on from the government’s enormous intervention to bail out the UK financial system, the Bank of England’s deputy governor has said that US banks can survive without taxpayer assistance. Speaking in Washington DC, Paul Tucker, who will soon step down from his position at the Bank, said that the American financial system has [...]
RBS could sell Citizens bank instead of floating the lender October 13, 2013 RBS COULD sell its US arm Citizens to a private bidder such as another bank, rather than float it on the stock market, it emerged yesterday. The British bank is planning to sell off Citizens in several chunks as part of its wider plan to cut down overseas operations to focus on the UK market. [...]
Travelex owners weigh up plans for market float October 13, 2013 TRAVEL money shop Travelex is considering plans to float on the stock market after a string of favourable floats in London laid the ground for a lucrative sell-off of the business. The shop’s co-owner Apax, which also owns fashion chain New Look, is looking to exit its 50 per cent stake either through a sale [...]
Bottom Line: Growth home and abroad means a sunny future for travel money October 13, 2013 IT IS heartening to see more signs of the City’s IPO market building up a proper head of steam. Travelex would be a further coup. The possibility of a float appears to be driven by Apax, the private equity owners of half the company, looking for the exit. But Travelex still has plenty of mileage [...]
Four men arrested on terrorism charges in raids around London October 13, 2013 FOUR men were arrested in London last night in a pre-planned counter-terrorism operation. Armed officers made the arrests around 7.10pm yesterday in Whitechapel, Bayswater and Peckham. Police said last night searches at six addresses were ongoing. Scotland Yard said the men were being held under the Terrorism Act 2000 on suspicion of the commission, preparation [...]
Arbitration in UK strike talks October 13, 2013 INEOS said last night that it has agreed to go to independent arbitration with the Unite union over a dispute at the Grangemouth refinery and petrochemical plant that has led to industrial action including a strike next week. The move decreases the chances of a strike which could have caused severe disruption to the fuel [...]
Evacuation limits damage from India storm October 13, 2013 A MASS evacuation saved thousands of people from India’s fiercest cyclone in 14 years, but aid workers have warned a million would need help after their homes and livelihoods were destroyed. Cyclone Phailin was expected to dissipate within 36 hours, losing momentum yesterday as it headed inland after making landfall from the Bay of Bengal.
Half of finance staff doubt their own forecasts October 13, 2013 LESS THAN half of the world’s financial professionals think their company’s forecasts are reliable, according to a poll by accountancy group PwC. Just 45 per cent of the 1,500 people surveyed from 200 companies think their firm’s financial predictions are reliable, though 80 per cent accept that accurate forecasting is “critical to their business”, PwC [...]
