MF Global’s bankruptcy highlights perilous faults in UK finance rules July 8, 2012 LESSONS have been learned” is today’s platitude of choice. It was used to account for the failings that led to the collapse of Lehman Brothers – an event that was meant to change everything. So it was with disbelief that I heard from a group of MF Global clients. MF Global was a derivatives broker [...]
Hollande is at risk of slaying France’s golden tax geese July 8, 2012 PRESIDENT François Hollande is only just settling into the Elysée, but ripples of unrest towards his tax policies are already being felt, both in France and further afield. The headline figure is the proposed 75 per cent rate of income tax, which will apply to income of over €1m (£793,000) a year. This will be [...]
Trust in the City is central to its ability to create jobs and foster growth July 8, 2012 OUR SUCCESS as a global financial centre depends on trust. Recent events have shaken that trust, and we must restore it. It is the responsibility of us all to make the case for the importance of the City to both the British economy and to other economies abroad, both now and in the future. It [...]
Have recent events shown that relationships between banks and regulators are too close? July 8, 2012 YES Steven Woolfe “Without banking Britain is bust,” a taxi driver recently told me. He is right. A competitive, free, financial market is vital to our country’s well-being. Any regulation imposed should be applied equally to all market participants. What the Libor scandal has shown is that the too big to fail principle has created [...]
RAPID responses July 8, 2012 Cheapened money [Re: Why QE is not the answer to Britain’s economic problems, Friday] Quantitative easing is a disaster. Milton Friedman wouldn’t have supported this further injection if he were still alive, and he’d be right – as he was about most things. He predicted the euro would have about a 10 year lifespan. It [...]
What to ask your financial adviser to avoid costly fees July 8, 2012 Big changes are happening in the way you are charged – you need to understand this new investment landscape ARE you ready for the retail distribution review (RDR)? After many years in the planning, the implementation of the RDR is quickly approaching on 1 January 2013. While it will change the way financial advice is [...]
Modern means for managing your money July 8, 2012 YOU’VE probably changed the way you buy airline tickets and car insurance over the last decade, and it’s likely that you shop around on the internet or buy through price comparison sites. But what about the way you invest your own money? Some of us do it ourselves, some leave it to a trusted adviser, [...]
Live like a true king in Kingston July 8, 2012 THE SUN descends over Kingston town, casting a warm blood orange-hued glow over the city and dramatic dock beyond. At street level music systems crank out raga, cars beep, locals chat animatedly by beer shacks and jerk chicken stands as our car weaves masterfully through the throng of traffic. “Rush hour,” explains our driver, handing [...]
Moved Murray sobs after final loss to Federer July 8, 2012 BRITISH No1 Andy Murray failed to fight back the tears that emerged from a defiant defeat after winning the hearts of a nation against Roger Federer in yesterday’s final at Wimbledon. The Scot’s performance was as gutsy as his fate was cruel, but if he possessed a composure that had previously eluded in past grand [...]
Wiggins fumes at doping talk July 8, 2012 BRITISH cycling hopeful Bradley Wiggins held onto the yellow jersey after stage eight of the Tour de France yesterday, yet reacted angrily after the race when asked about doping allegations made on the social network Twitter. “I can’t be doing with people like that,” Wiggins said during an expletive-fuelled rant against critics who have suggested [...]
