FSB in call for quick reform on derivatives October 11, 2011 DERIVATIVES market reforms are proceeding too slowly in the EU, according to a Financial Stability Board (FSB) report out yesterday. “Aggressive” action is needed to meet the G20’s deadline of the end of 2012, the FSB warned. The US has been more prompt in enacting legislation to standardise derivatives trading. Regulators intend to make market [...]
Emirates NBD to take over Dubai Bank October 11, 2011 EMIRATES NBD, the largest bank in the United Arab Emirates by assets, will take over struggling government-controlled Islamic lender Dubai Bank under orders from Dubai’s ruler, as consolidation gets under way in local banking. Dubai’s government, which also holds a 55.6 per cent stake in Emirates NBD, has been working to support state-linked institutions saddled [...]
Crunch time as firms seek women directors October 11, 2011 FORTY-FOUR per cent of the UK’s top 350 companies still have no women representatives on their boards, despite a recent push to improve boardroom diversity and encourage the appointment of female executives. Over the past decade, the proportion of women on the boards of the UK’s biggest 350 public companies has increased from five to [...]
CITY VIEWS: DO YOU THINK INITIATIVES TO GET MORE WOMEN ONTO UK BOARDS ARE WORKING? October 11, 2011 ANDREW PELL | J CHAHINE CAPITAL “As an asset manager we care about results, whether they’re from women or men. But I don’t think the initiatives that have been put in place are working – there are a lot of scenarios associated with sexism still in place in City companies.” LAWRENCE EDWARDS | LIQUID CAPITAL [...]
Boards are in the spotlight October 11, 2011 THE DIVERSITY policies of several UK firms that still have no female board members will be in focus today, as they receive a letter from the Prime Minister urging them to make clear their plans for change. Lord Mervyn Davies recommended in February that women should make up a quarter of boards of FTSE 100-listed firms [...]
AN AWKWARD MOMENT AS BANK CHIEFS RETURN TO PARLIAMENT October 11, 2011 BRITAIN’S bank chiefs were lucky enough to be called before another parliamentary committee today, following several outings already this year. Seated in the stuffy House of Lords hearing room, banking maestros were put through their paces on topics ranging from capital buffers to some “curious nexuses” that HSBC chair Douglas Flint wanted to discuss. Is [...]
N Brown sees profits lift as it thinks big October 11, 2011 HOME shopping clothes retailer N Brown yesterday reported a half year profits rise as its investment in brands for larger men and women paid off. In the half-year to August, sales were up four per cent to £364m, with profits surging six per cent to £45m. The Manchester-based company lifted its dividend five per cent [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
ANALYST VIEWS: CAN N BROWN CONTINUE TO BUCK THE RETAIL GLOOM? October 11, 2011 RAMONA TIPNIS | SHORE CAPITAL This is a good set of results, which are in line with our forecasts and we are not changing our full year estimate. Revenue growth has reflected trends seen across the sector with the younger customer spending more – the under 45 customer saw revenue growth of 14 per cent. [...]
Sainsbury’s in £1m deal for digital firm October 11, 2011 SAINSBURY’S has delved further into the market for consumer digital downloads, paying £1m to buy Global Media Vault (GMV) from MBL Group. The supermarket already had a strong relationship with GMV, through an online service launched in November last year that enables customers to buy music and other entertainment products. Yet Sainbury’s is now moving [...]
