S&P says future Greek leaders could decide to leave Eurozone December 10, 2012 THERE is a one in three chance that a future Greek government would decide to leave the Eurozone, according to a Standard & Poor’s (S&P) ratings chief. Though it was extremely unlikely that Greece would leave the currency bloc under its current government, led by Antonis Samaras, there is a “non-trivial” possibility that a future government would [...]
Fears central bank vows are losing force December 10, 2012 THE EUROPEAN Central Bank (ECB) and Spanish government must move towards a bailout soon if they are to keep markets’ confidence, analysts at Deutsche Bank warned yesterday. Markets can no longer be held up by policymakers’ promises alone, and politicians and central bankers will be forced to act by a loss of confidence if they [...]
Are you more Optimistic about the Economy than a year ago? December 10, 2012 ALEC MASON MASTERCARD The same. There’s no indication that things are going to get worse; we’re close to the bottom of where we were going to be anyway. By the same token I don’t see any green shoots of recovery. NICK MOORE LLOYDS TSB I’m actually more optimistic. I know the economy could be better, [...]
CBI: EU Pension rules threaten UK’s recovery December 10, 2012 EUROPEAN Union pension proposals will hit investment, jobs and growth for no good reason, according to a new report out today from business group the CBI. The EU wants pension schemes to hold enough funds to pay out in the event of a once-in-200-year catastrophe, to make sure savers are very thoroughly protected. But critics [...]
Cowdery’s insurance vehicle resolves its boardroom tangle December 10, 2012 INSURANCE vehicle Resolution has paid £7.5m to axe its external management deal and simplify its board structure. The firm, which specialises in overhauling underperforming insurers, said it was bringing management in-house from March 2013 as it moves from an acquisitions vehicle to a more traditional company. Founder Clive Cowdery has joined the board for the [...]
Job reductions at Henderson December 10, 2012 MONEY manager Henderson is on the verge of cutting a number staff roles in some parts of its business, as asset managers continue to face increased cost pressures. It is thought up to nine per cent of roles could be cut at the business but that it would look to invest in more jobs in [...]
Skandia cuts 20 sales roles December 10, 2012 SKANDIA, the financial services firm, yesterday announced plans to cut 20 jobs from its 100-strong sales team as part of a broader cost-cutting programme which will eventually see it shed 200 jobs. Steve Powell, sales director, said: “The new 80 strong sales team will be nimbler and more effective, with a strong leadership team.” The [...]
Top MP fears Finance reforms are rushed December 10, 2012 INFLUENTIAL backbench MP Andrew Tyrie yesterday warned the Financial Services Bill is being rushed, with the Commons being asked to pass reforms before the banking and treasury committees have studied it. “This is an object lesson in how not to do it,” he said.
Branson lays down £1m bet to BA’s Walsh December 10, 2012 VIRGIN founder Sir Richard Branson yesterday insisted that the brand will not disappear if a new investor takes a stake in his airline. As Delta nears a deal to buy Singapore Airlines’ 49 per cent stake in Virgin Atlantic, Sir Richard hinted that he will not give up control of the carrier. He wrote a [...]
Britons splashed out almost £42bn on technology in 2012 December 10, 2012 TECH-SAVVY UK consumers have spent almost £42bn on technology during 2012, an average of £934 per person, as they splashed out on new tablets and smartphones. But the single biggest outlay for Britons was on television packages, with 17 per cent of consumers spending more than £50 a month, according to research by online price comparison [...]
