King demands full inquiry into NatWest fiasco June 26, 2012 SIR MERVYN King yesterday demanded that a formal investigation be launched into the RBS and NatWest technical glitch, adding to pressure on the bank and its chief executive Stephen Hester. “Once the difficulties are over, we will need the FSA to carry out a very detailed investigation,” King argued, with the focus on “first of [...]
Twitter effect hits brands as the impact on consumer perception becomes clear June 26, 2012 WHETHER NatWest’s recent computer problems are over remains to be seen, but what is already obvious is the damage that is being done to perception of the brand. YouGov SoMA (Social Media Analysis tool) looks at the impact that campaigns or crises have on social media. While an average day generates tweets about NatWest that [...]
New reporting template to hit banks next year June 26, 2012 INTERNATIONAL regulators said yesterday that banks must reveal “all the components” of their capital from 30 June next year, as their progress in building up buffers is monitored by authorities. The Basel Committee on Banking Supervision – which consists of regulators from 27 countries including the UK, Germany, China and the US – wants to [...]
HOW WILL THE NEW SYSTEM WORK? June 26, 2012 A disclosure template that the banks must use from 1 January 2018 has been set out. This is the date from which the Basel III requirements will be set in stone, and when the banks’ permitted period of transition comes to an end. Until then, there is a modified version of the template that banks [...]
ASIL NADIR DENIES POLLY PECK THEFT June 26, 2012 POLLY Peck tycoon Asil Nadir yesterday told the Old Bailey he was a “broken man” with no chance of a fair trial when he left the UK in 1993. The 71-year-old Cypriot has denied stealing nearly £150m from Polly Peck and said the company was never insolvent.
Carpetright reports signs of sales growth June 26, 2012 BRITAIN’S biggest floor coverings retailer Carpetright’s full-year underlying profit fell by 76 per cent, weighed down by weaker UK sales, the firm announced yesterday. But FTSE 250-listed shares in Carpetright, which have fallen four per cent over the past 12 months, rose nearly five per cent as investors took comfort from an upbeat outlook and [...]
DO YOU SHOP AT A DISCOUNT SUPERMARKET? June 26, 2012 RICHARD CORBEN MINISTRY OF JUSTICE I shop at both because of the low cost. They are cheap and also in a good location. In the town where I live we have Lidl and an Aldi, and I am satisfied with the quality. PAOLO ADRAGNA FIDESSA I shop at Lidl from time to time because it [...]
Shoppers sold on discounters to save costs June 26, 2012 AN INCREASING number of Britons are planning to switch their food shops from their usual supermarket to discounters such as Aldi and Lidl this year in an attempt to cut costs, new research shows. A survey by retail experts IGD claimed today that a third of shoppers say they will be visiting the aisles of [...]
Ocado sees shares slide as it lacks Jubilee cheer June 26, 2012 SHARES in Ocado crashed by 20 per cent yesterday after the online supermarket admitted that the Jubilee celebrations had disrupted trading and it could see a similar effect during the Olympics. The share sell-off came even as the retailer reported a four per cent increase in pre-tax profit to £181,000, in the six months to [...]
IS OCADO’S STATEMENT A SIGN OF BLEAKER THINGS TO COME ? June 26, 2012 DARREN SHIRLEY SHORE CAPITAL Whilst we recognise that we may have a reputation for perceiving Ocado from a position of caution, these are poor results with a far from compelling outlook statement. Further downgrades could be down the line, albeit we will take the luxury of waiting for Q3 before we dust off our well-used [...]
