The Santa Fe bar with a useful lesson for London’s Olympic organisers August 7, 2012 IT NOW seems like a distant memory, as London has again filled up with shoppers, tourists and people celebrating Team GB’s historic gold medal haul. But last week, the city was notoriously labelled a ghost town, despite official predictions that the capital would be heaving. No doubt, Transport for London had used its hugely complicated [...]
UK bankers could face US prison for sanctions busting August 7, 2012 IT IS American regulators that British multinationals must really fear. By alleging that Standard Chartered Bank is a “rogue institution”, the New York State Department of Financial Services has dunked the bank’s share price and caused it untold reputational damage. The investigation into breaches of the Iranian sanctions regime may be almost complete. But Standard [...]
After Lib Dem-Tory splits on constitutional reform, will this coalition last until 2015? August 7, 2012 YES Mark Field In spite of deep-seated disputes over constitutional reform, the coalition will hold steady. The deepening threat to our economy from the Eurozone makes it ever more important that the coalition stays united around its central economic purpose. Public borrowing remains stubbornly high, but deficit reduction is a mantra that unites all coalition [...]
RAPID RESPONSES August 7, 2012 Regulatory favours [Re: Another banking scandal was the last thing the City needed, yesterday] I’m glad Allister Heath has addressed this issue: all regulators, American or otherwise, are not necessarily acting with justice and fairness. We need to question their motives. I don’t know the specifics behind the allegations made against Standard Chartered Bank. But [...]
Vim added to trusty Audi estate August 7, 2012 Audi’s A6 Allroad model has long been something of the unsung hero in its ever-expanding model range. Is it an oddity? Well, it’s certainly unique. An estate car with four-level height adjustable suspension and quattro all-wheel-drive – A6 Allroad appeals to people that want a rugged car but for whom an SUV just doesn’t cut [...]
Stan Chart shares plummet following Iran probe August 6, 2012 Standard Chartered lost 16 per cent of its share price on the FTSE 100 early this morning, following allegations of covering up financial transactions with the Iranian government. US regulators have accused the bank of scheming with the government to hide $250bn (£160bn) worth of transactions and reaping hundreds of millions of dollars in fees [...]
Coalition in crisis as Clegg rejects reforms August 6, 2012 NICK Clegg yesterday dealt a serious blow to government unity by announcing that the Lib Dems will not vote in favour of reforms to parliamentary constituencies after Conservative backbenchers killed plans to reform the House of Lords. Visibly unhappy, Clegg said his coalition partners had broken “part of our contract” and were playing “pick and [...]
Marginal seat up for grabs after Mensch quits politics August 6, 2012 DAVID Cameron yesterday endured one of his worst days as Prime Minister after one of his party’s best known backbenchers announced she is to quit politics on the same day that Nick Clegg torpedoed plans to reform parliamentary constituencies. The surprise resignation of rising star Louise Mensch will result in a high-profile by-election that Labour [...]
Another banking scandal was the last thing the City needed August 6, 2012 JUST when it felt as if it couldn’t get any worse for the City, it is now Standard Chartered’s turn to be engulfed in a major scandal. The bank – which didn’t need a bailout and is hugely successful thanks to its emerging market focus – stands accused by US regulators of having deliberately ignored [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 6, 2012 FINANCIAL TIMES Facebook gambles on real cash with bingo app Facebook is venturing into the world of online gambling with the launch of its first application where punters can take a stake on real money. Starting today, Facebook will offer users in the UK aged 18 and over the opportunity to play online bingo for [...]
