Top FCA watchdog Martin Wheatley: I regret saying we must shoot first and ask questions later January 27, 2015 The City watchdog’s boss admitted yesterday that his “shoot first, ask questions later” description of the Financial Conduct Authority was too aggressive, and that the body is trying to find a better balance with businesses. Martin Wheatley told MPs that he had been trying to establish the FCA’s reputation in 2012 and to tell firms [...]
UK economic growth hit by subdued construction January 27, 2015 THE UK’s economic growth slowed in the final three months of the year, according to official estimates. The economy was 0.5 per cent larger in the final three months of 2014 compared to the previous three months. It compares to 0.8 per cent growth from April to June and 0.7 per cent from July to [...]
FCA boss Martin Wheatley is right to say sorry at last – Editor’s Letter January 27, 2015 Martin Wheatley evokes a lot of hostility, rather than respect, from many of the senior figures in the London’s financial community. A few months ago one chief executive pulled me aside and blamed the City’s top regulator for costing London the flotation of Alibaba, the giant Chinese internet group. Wheatley’s crime, I was told, was [...]
Greece at risk of a full-blown banking crisis January 27, 2015 SHARES in Greek banks tumbled yesterday over fears they will lose their European life support. Share prices in three major Greek banks – Piraeus, the National Bank of Greece and Eurobank – dropped in excess of 10 per cent. They saw similar drops on Monday. The banks rely heavily on funding from the European Central [...]
Jon Moulton defends City Link collapse January 27, 2015 JON MOULTON, the founder of City Link’s parent company Better Capital, has spoken of his deep regret at the attempt to turn around the collapsed company, telling MPs yesterday “we killed ourselves to try to save this company and we failed”. Over 2,700 workers lost their jobs after the parcel delivery firm collapsed on Christmas [...]
Remembering Europe’s greatest atrocity January 27, 2015 CHILDREN were among those laying candles at Auschwitz yesterday at the site of the concentration camp used by the German Third Reich to commit genocide in World War Two. Commemorations are taking place to mark the 70th anniversary of the camp’s liberation. Some 300 Auschwitz survivors returned for the ceremony under a giant tent.
Apple sets new record as sales smash forecasts January 27, 2015 APPLE sales smashed even the most optimistic expectations after the tech giant sold a record number of iPhone 6 and 6 Plus smartphones over the Christmas quarter and won thousands of new fans in China. The company sold 74.5m iPhones in the first quarter to 27 December, thanks to more people switching from Android than [...]
Boris Johnson moves closer to plans for Old Oak Common Crossrail and HS2 superhub January 27, 2015 Plans to turn a rundown industrial area in west London into a thriving new district with up to 24,000 homes moved a step closer yesterday after the government gave the go-ahead to create an Olympic-style development body for the scheme. Eric Pickles, the communities and local government secretary approved the creation of the Old Oak [...]
City headhunters appointed with FT-owner Pearson chair Glen Moreno set to step down January 27, 2015 Financial Times-owner Pearson has appointed a City headhunting firm to begin the groundwork in lining up a successor for chairman Glen Moreno who is expected to step down this year. While headhunter JCA Group has not yet begun approaching suitable candidates, City A.M. understands they will begin doing so in the coming months. “There is [...]
Yahoo to spin-off remaining Alibaba stake January 27, 2015 YAHOO boss Marissa Mayer (pictured) said last night it plans to spin off its 15 per cent stake in China’s Alibaba as the group posted a 52 per cent drop in fourth quarter earnings to $166m (£109m). Shares jumped after hours as traders welcomed the move, which will help Yahoo avoid a large tax bill [...]
