JP Morgan pours staff and cash into crackdown to end scandals September 17, 2013 JP MORGAN’S boss Jamie Dimon yesterday vowed to end the run of crises hitting the bank by simplifying the business and dedicating unprecedented resources to ensuring that rules are followed. It comes as the bank faces the prospect of paying hundreds of millions of dollars to settle with regulators over the London Whale scandal, on [...]
Firms demand UK takes power back from EU September 17, 2013 BUSINESS bosses want the UK to take back powers from the EU across areas including employment law, corporate governance and home affairs, according to a poll published today by the Institute of Directors. Although 49 per cent would vote to stay in the EU and just 15 per cent want to leave, 57 per cent [...]
Blue chip firms rein in bonus payments for top executives September 17, 2013 THE AVERAGE bonus for a FTSE 100 chief executive is seven per cent lower than it was a year ago, according to new data from PwC. The research showed that FTSE 100 chief executives received a median bonus payout of £905,000 in 2013, a seven per cent fall from 2012. Bosses received around two thirds [...]
Scotland told it could fix fiscal issues with oil September 17, 2013 AN INDEPENDENT Scotland would have to slash spending and hike taxes to put its finances on a secure standing, the National Institute for Social and Economic Research (Niesr) said yesterday. And one way to cut their share of the UK’s national debt could be to offer England oil revenues in exchange for a smaller debt [...]
International Monetary Fund raises fears of debt after crisis September 17, 2013 THE RISK of large government debts has been laid out in a new paper by the International Monetary Fund (IMF), which was published yesterday. New research, approved by IMF chief economist Oliver Blanchard, suggests high debt levels are more dangerous for advanced economies than was commonly thought before the financial crisis. Using Iceland and Ireland [...]
Demand pushes builder salaries to over £40,000 September 17, 2013 DEMAND for new homes is so high that construction workers can attract salaries of more than £40,000, the boss of housebuilder Galliford Try said yesterday. Chief executive Greg Fitzgerald told reporters that it was also becoming tougher for the company to source building materials. “We have made excellent progress as a group in the financial [...]
Boost for Apple as its website in China runs out of new iPhone 5s September 17, 2013 APPLE’S share price yesterday rose for the first time since its unveiling of new iPhones underwhelmed investors and analysts last week. Shares in the Cupertino-based company were lifted 1.16 per cent to $455.32 at the close of trading last night, as a high number of reservations on Apple’s Chinese website for the new iPhone 5s [...]
Bidders for RBS branches battle to stay in race September 17, 2013 THE BID headed by ex-Tesco Bank executive Andy Higginson is believed have a tougher challenge than its rivals to prove to RBS its offer represents a better deal for the bank than a straight initial public offering. The race to buy the 316 RBS branches is nearing its end, and the W&G Investments consortium is [...]
A million cloud subscribers in Adobe results September 17, 2013 ADOBE, known for its photoshop and acrobat software, reported an eight per cent drop in quarterly revenue last night but exceeded its forecast of paid subscriber additions, sending its shares up four per cent in late trading. Revenues of $995.1m (£655.4m) were well within the company’s target range with the company’s recent purchase of Neolane [...]
Liberal think tank says HS2 may not be best way to spend £50bn September 17, 2013 POLITICIANS should reconsider whether High Speed 2 (HS2) is the best way to spend £50bn, according to a think tank closely associated with the Liberal Democrats. CentreForum’s Quentin Maxwell-Jackson, a former senior partner at KPMG, yesterday warned that the case for continuing with the project – which has been dogged by criticism over this summer [...]
