Gilts could link to consumer price inflation September 25, 2013 DEBT management office (DMO) head Robert Stheeman said yesterday that the institution has not ruled out issuing bonds linked to consumer inflation, but is not planning to yet. Speaking at a financial conference in London, the chief executive of the DMO said that the organisation would not issue bonds linked to consumer price inflation (CPI) [...]
Deutsche Bank to slash assets further than rules say it must September 25, 2013 LENDING rules which are causing chaos among British banks are still not tough enough, Deutsche Bank boss Anshu Jain claimed yesterday. The chief executive said that the bank plans to go much further than EU regulations mandate on leverage – the ratio governing how much they can lend relative to their capital base. “The three per cent [...]
Biggest banks close capital hole by £83bn September 25, 2013 THE WORLD’S biggest banks took another giant leap towards hitting regulators’ capital targets, according to numbers out yesterday from the Basel Committee on Banking Supervision. The international group of finance authorities said the 100 so-called Group 1 banks – the largest in the world – were €115bn (£97bn) short of the seven per cent capital target [...]
French 2014 budget: more tax on households but less on firms September 25, 2013 FRANCE sought to appease anger over tax hikes and EU concerns over its finances yesterday with a 2014 budget bill that focuses efforts largely on savings. But while businesses will face a smaller tax burden to help boost competitiveness, households will be hit by higher taxes to help cut the deficit, a move that will [...]
Italy consumers confident after two-year gap September 25, 2013 CONSUMER confidence in Italy has finally rebounded this month, responding to the Eurozone’s fragile recovery from an 18-month recession. According to official statistics released yesterday, Italian consumer confidence is in positive territory for the first time since August 2011, just after the European Central Bank’s last attempt to hike interest rates. The headline index for [...]
Mr Men exchange market wisdom September 25, 2013 CHINA’S online shopping giant Alibaba has dumped Hong Kong in favour of New York for its upcoming initial public offering, but it seems that the Hong Kong stock exchange’s boss is remaining philosophical about his market’s way of doing things. While we’re used to bulls and bears in the financial world, more unusual are Charles [...]
Baker crashes Labour’s party September 25, 2013 LIBERAL Democrat politician Norman Baker made audacious inroads into the Labour Party conference yesterday, taking a bus ride along the Brighton seafront to promote a new transport initiative aimed at young people. The Capitalist’s mole at the conference said Baker was not spotted by attendees spilling out from the nearby Brighton Centre during his lunch-time [...]
Better trading lifts Topps Tiles’ income outlook September 25, 2013 TOPPS Tiles, Britain’s largest specialist tile retailer, said yesterday that cost savings and better trading in its fourth quarter would help the firm post a small rise in full-year profit. The company, which has 328 stores and also sells flooring, said it expected to post an adjusted pre-tax profit for the 52 weeks to 28 [...]
Punch Taverns moves towards restructuring after profit drops September 25, 2013 PUB company Punch Taverns said yesterday full-year profit fell by almost a quarter, and that the firm could kick off a restructuring plan later this year. Pre-tax profit for the year to 17 August fell 23 per cent to £49m after it reduced the size of its estate. Revenues fell seven per cent to £458m. [...]
Laura Ashley to target younger homebuyers after drop in sales September 25, 2013 LAURA Ashley is planning to tap in to the recovery in the housing market by targeting younger customers for its homewares division after a lacklustre performance from its fashion range hurt sales and its shares. Famous for its feminine and floral designs, the 60-year-old firm said yesterday it planned to make its furniture, home accessories [...]
