Delivering a privatisation by punishing enthusiasm is wrong October 10, 2013 IT IS an utter scandal that those who applied for more than £10,000 worth of Royal Mail shares were awarded nothing. Why? Since when is a privatisation to be conducted along class war lines? And if that is what the coalition wanted in the first place, why not cap the allocation from the start, or [...]
Royal Mail: What happens now October 10, 2013 IF YOU BID FOR £10,000 OR LESS YOU GET £749.10 IF YOU BID FOR OVER £10,000 YOU GET NOTHING WHAT HAPPENS NOW TODAYConditional trading of Royal Mail shares begins, with the price expected to jump. Individuals who failed to receive their full allocation of shares can expect to see their cash put on account. TUESDAYUnconditional [...]
Lloyds offloads Australian firms October 10, 2013 LLOYDS Banking Group has agreed to sell its Australian operations to Westpac Banking Corporation for £900m, the state-backed lender said this morning. The sale, which further reduces Lloyds’ overseas footprint, will see the bank offload motor asset finance provider Capital Finance Australia and corporate lending business BOS International. The sale marks the end of Lloyds’ [...]
Libor accused changes lawyer October 10, 2013 FORMER trader Tom Hayes, who is facing criminal charges for the alleged manipulation of Libor interest rates, has changed law firms weeks before he is due back in a London court. Hayes, a former trader at UBS, has switched to British law firm Garstangs Burrows Bussin from Fulcrum Chambers, his former lawyer Lydia Jonson said. [...]
What the other papers say this morning – 11 October 2013 October 10, 2013 FINANCIAL TIMES New York Fed sued over Goldman A former bank examiner filed a suit against the Federal Reserve Bank of New York, claiming she was fired after criticising Goldman Sachs for its policies on managing conflicts of interest. Carmen Segarra is suing the New York Fed and three of its officials in federal court [...]
Santander joins mortgage plan as prices rocket October 10, 2013 SANTANDER became the sixth bank to join the Help to Buy scheme, yesterday promising to offer mortgages with a government guarantee in the New Year. But the announcement came as new data revealed the housing market is already growing strongly, adding to fears that the guarantee scheme could promote a bubble in some areas. House [...]
Barclays to face energy fix claims as watchdog brings court case October 10, 2013 BARCLAYS yesterday rejected claims its traders manipulated US energy markets, as an American regulator filed court documents in the latest stage of its bid to fine the bank. The Federal Energy Regulatory Commission (Ferc) wants the bank to pay $435m (£272.5m) in civil penalties for allegedly manipulating the market from November 2006 to December 2008 to increase [...]
EE deal could see BT heading back to mobile October 10, 2013 BT IS poised to move back into the consumer mobile market after signing a deal to use EE’s network yesterday, 11 years after selling off its BT Cellnet business. Yesterday’s agreement will initially allow BT to provide mobile service to its 250,000 corporate customers using EE’s network, and could allow BT to offer a consumer service [...]
Capital’s firms more optimistic about economy October 10, 2013 LONDON’S businesses are feeling more optimistic as the British economy picks up pace, but have a lukewarm outlook for the capital itself. In a survey released yesterday by the Confederation of British Industry (CBI) and KPMG, more than two thirds of firms (67 per cent) in the capital now say that they plan to expand [...]
UK banks discuss plan to ban payments to video websites October 10, 2013 BRITISH banks yesterday discussed a plan to ban payments to thousands of non-UK video websites, City A.M. has learned, in a move which freedom of speech groups said should be debated in parliament. Under the proposal, UK banks and card providers would be obliged to block payments to websites that provide sample video clips of [...]
