Chinese hustlers are taking advantage of the Cayman legal system – and British investors are paying for it
Brewin Dolphin trade volumes fall on fee shift July 30, 2012 WEALTH manager Brewin Dolphin posted its third consecutive double-digit drop in trading volumes yesterday as it continues to switch to a transparent fee-based model. The firm saw overall income increase 4.4 per cent over the year from £63.9m to £66.8m but non-recurring income fell 17.9 per cent – in keeping with an 11 per cent [...]
Lloyds looks at liquidity swap with its Scottish Widows arm July 30, 2012 LLOYDS Banking Group is contemplating an asset swap with its Scottish Widows life insurance division to shift illiquid assets off the bank’s balance sheet, sources said yesterday. The bank, which is 40 per cent owned by the taxpayer, held talks with the Financial Services Authority this month to discuss a £1bn liquidity swap with its [...]
Informants on tax earn £1m July 30, 2012 MORE than £1m has been paid out in rewards for informing on tax evasion in the UK since the financial crisis began in 2008. Payments from HM Revenue & Customs (HMRC) to informants rose by more than a fifth to £374,000 in 2011-12, compared with the previous financial year, figures released to the investigative website [...]
F&C trust raises dividend 33pc July 30, 2012 FOREIGN & Colonial Investment Trust yesterday announced plans to increase its September dividend payment by a third after selling a stake in Facebook. The £2.5bn trust said it will increase its dividend 33 per cent to 4p after a £9m cashflow increase from its private equity portfolio. This was led by the trust’s “partial” disposal [...]
Cantor Fitz in Europe push July 30, 2012 INVESTMENT bank Cantor Fitzgerld announced yesterday that it is launching a European corporate advisory business and expanding its brokerage. As part of the push into Europe, Cantor Fitzgerald has hired 17 new staff, all from Canaccord Genuity – the broker that took over Collins Stewart Hawkpoint earlier this year. The London team will be led [...]
MOODY’S PUTS CO-OP ON NEGATIVE WATCH July 30, 2012 Moody’s became the latest ratings agency to put the Co-operative Bank on a negative outlook yesterday, on worries about the risk of its vastly expanded balance sheet, after the mutualist group acquired Lloyds’ “Project Verde” bank branches.
British gymnasts happy at trading silver for bronze July 30, 2012 TEAM GB’s artistic male gymnasts vowed that their dramatic relegation from second place to third would not inhibit their sense of triumph after the powerful performance with which they secured their unexpected bronze medals. With a score of 271.711, Britain’s team of Sam Oldham, Louis Smith, Max Whitlock, Daniel Purvis (right) and Kristian Thomas were [...]
Dive star Daley just misses medals after promising start.. July 30, 2012 TEENAGE diving star Tom Daley refused to blame partner Pete Waterfield last night after a disastrous dive blew the British pair’s chance of gold in the men’s 10m synchronised platform event at London 2012. Daley, 18, and Waterfield, 31, led a strong field after three of their six dives at the Aquatics Centre, only to [...]
..but schoolmate takes gold July 30, 2012 PLYMOUTH schoolgirl Ruta Meilutyte, 15, stole the show in last night’s swimming finals as Liam Tancock narrowly missed out on a medal in the men’s 100m backstroke. Meilutyte, who represents her native Lithuania but attends diver Tom Daley’s school in Devon, wept on the podium after beating American Rebecca Soni to gold in the women’s [...]
TODAY AT THE GAMES July 30, 2012 Equestrian Team eventing – jumping, 10.30; individual jumping, 14.30. Royal Zara Phillips will today target a medal; Team GB are currently in line for a silver medal. Women’s football Team GB v Brazil, final Group E game, 19.45. Britain will reach the knockout stage regardless of result Swimming Men’s 200m butterfly final, 19.49, in which [...]
