Banks stocks fall as FSA calls for tighter regulation December 12, 2011 The FTSE 100 was pegged back by miners and banks in early trading as the Eurozone continued the struggle to dig itself out of the sovereign debt crisis Domestically the decision by the Government to shun a Eurozone agreement on closer fiscal ties was sinking in with cracks appearing in the coalition over the move. [...]
Pearson sells FTSE stake to LSE for £450m December 12, 2011 British publishing group Pearson is to sell its 50 per cent stake in the FTSE International group to the London Stock Exchange for £450m as part of its drive to focus on news and analysis and away from data. The LSE said it would fund the deal from existing resources and said it would enable [...]
RBS dragged down by poor management says FSA December 12, 2011 Royal Bank of Scotland gambled with its purchase of Dutch bank ABN Amro and was dragged to the brink of collapse three years ago by poor management decisions and flawed regulation and supervision, a report said on Monday. The long awaited report by Britain’s Financial Services Authority, running to 452 pages, criticised former Chancellor and [...]
Lib Dem agony as voters back veto December 11, 2011 THE LIBERAL Democrats were in disarray yesterday with senior cabinet figures lashing out over David Cameron’s veto of a new EU treaty on Friday – but they stopped short of quitting as two polls showed public opinion firmly against them. The first post-veto polling showed that Cameron’s move is popular with voters: a Daily Mail [...]
Review to slam out of town retail December 11, 2011 RETAIL expert Mary Portas, who is charged with saving the ailing British high street, is tomorrow set to unveil a list of proposals including new taxes on out-of-town car parks, a “town centre first” policy and plans for a national market day. The high street review, commissioned by Prime Minister David Cameron seven months ago, [...]
Asian growth boosts KPMG December 11, 2011 BIG four accountancy firm KPMG today reports a strong rise in annual revenue on the back of increased sales in emerging markets. The practice said revenue rose 10.1 per cent to $22.7bn (£14.5bn) for the year to 30 September. As well as financial services, the results were driven by member firms seeing work grow in [...]
David Cameron was right to say No December 11, 2011 THIS column is often critical of David Cameron – but not today. The prime minister was at his best on Friday; his decision to veto the European treaty was inspired. It will be remembered as a turning point: the day the UK started a long journey towards a more global, more prosperous place in the world, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 11, 2011 FINANCIAL TIMES TNK-BP WARNED ON LEGAL ACTION Two of the independent directors in TNK-BP, the Russian joint venture of BP, warned the board that legal action by the company against either set of shareholders could destabilise the group, according to a letter seen by the Financial Times. In the letter addressed to Mikhail Fridman, TNK-BP’s [...]
Whitehaven buys Aston for $3bn December 11, 2011 Whitehaven Coal has agreed to take over Aston Resources and another miner in a $3bn deal to create Australia’s biggest independent coal miner, looking for scale as it taps into booming Asian coal demand. Whitehaven will get Aston’s 75 per cent stake in the Maules Creek project close to Whitehaven’s mines in New South Wales [...]
Executive pay soars over 25 years December 11, 2011 The average pay of company bosses in the FTSE 100 has risen 27-fold since 1988 – a 1200 per cent increase over less than 25 years. A study by the University of Exeter Business School has found average pay has risen from £150,000 to £4m, based on interviews with bosses at some of the UK’s [...]
