WHAT THE OTHER PAPERS SAY THIS MORNING July 30, 2012 FINANCIAL TIMES Pension Corp frees up £300m in Munich Re deal Pension Corporation, the specialist insurer that private equity entrepreneur Edi Truell set up to take on pension schemes’ risks, has offloaded £300m worth of exposure to one of the world’s biggest reinsurers. AIG boosts its annuity sales as rivals pull back American International Group [...]
TfL: Steer clear of London Bridge July 30, 2012 Commuters should avoid London Bridge station today, Transport for London has warned. Up to 50,000 spectators are expected to use the station on their way to equestrian events at Greenwich Park, making the area extremely busy throughout the day, and platforms one to six for National Rail services to Kent will be exit-only between 6pm [...]
Doubts over Merkel’s decisions July 30, 2012 Only one third of Germans still believe Angela Merkel is making the right decisions over the Eurozone debt crisis, according to a survey published yesterday, pointing to a steep erosion in domestic support for the chancellor over the last weeks. The survey by YouGov found 33 per cent in favour of her stance but 48 [...]
Chairmen see Eurozone future July 30, 2012 Two-thirds of FTSE 100 chairmen surveyed by Korn and Ferry Whitehead Mann expect the Eurozone will hold together for at least another 12 months, despite growing tensions in Spain and the failure of March’s bailout to put the Greek economy on a path to recovery. However, 87 per cent have considered a collapse as part [...]
Banks wait for details of Libor inquiry terms July 30, 2012 BANKS will today find out just how rigorous the investigation into the Libor scandal will be, as the Treasury is this morning set to announce the terms of Martin Wheatley’s review into the key interbank interest rate. Traders at banks including Barclays were found to have falsely entered low or high interest rates to the [...]
KPMG: Finance shake-up could mean end of universal banking July 30, 2012 THE ENTIRE concept of universal banking could be thrown out as a result of public pressure for transparency and clarity in the sector, KPMG warns today. Investors must also learn to cope with the new environment, the auditor said in a report. It argued banks are unlikely to regain the level of profits seen before [...]
RBS admits a large fine for rate fixing may be on the way soon July 30, 2012 RBS, the majority government-owned bank, is being investigated by the Financial Services Authority (FSA) over the Libor scandal, boss Steven Hester admitted yesterday. It comes a month after Barclays was fined £290m for manipulating the market by entering false rates. “RBS is one of the banks tied up in Libor. We’ll have our day in [...]
G4S pulled into empty Olympic seating scandal July 30, 2012 AN INVESTIGATION into unfulfilled Olympic tickets will be launched by the Games’ organising committee after rows of seats were left empty this weekend and G4S admitted it had banned employees from attending, despite having supplied them with tickets. The troubled firm said yesterday that its staff would not be able to enjoy the tickets they [...]
What Team GB really needs is international investors July 30, 2012 AFTER years of cynicism, Londoners appear to have finally taken the Olympics to their hearts. Yet there is an uncomfortable air of the Roman “panem et circenses” – keeping the common people happy with bread and games – about the spectacle. At a time when GDP figures suggest there’s less bread to go round than [...]
UK’s creative industry to get a £15m boost July 30, 2012 THE GOVERNMENT will today announce some £15m of investment into the UK’s creative industries as part of a series of summits taking place during the Olympics aimed at bringing investment to British shores. On the third day of an investment conference intended to show off British media, arts and design, UK Trade & Investment (UKTI) [...]
