What the other papers say this morning January 23, 2013 FINANCIAL TIMES GMG ends talks to sell Trader stake Guardian Media Group has called off talks with interested buyers over the sale of its half stake in the car classifieds company Trader Media Group following a failure to agree a price. Apax, its joint venture partner in Trader Media, was interested in buying out the [...]
Business backs Cameron’s call on Europe vote January 23, 2013 BUSINESS leaders yesterday broadly welcomed David Cameron’s plans to renegotiate a new deal with the European Union. In a letter to The Times, 48 industry and City leaders said the Prime Minister’s promises of a negotiation followed by an “in-out” referendum within five years was “good for business and good for jobs in Britain”. The [...]
What did business leaders make of the Prime Minister’s speech? January 23, 2013 SIMON WALKER Director general of the Institute of Directors Free movement of goods and people is enormously important for the British economy, and we need to preserve that situation. At the same time, there are serious concerns about large amounts of costly regulation being introduced through unaccountable processes. A future referendum to decide the workings [...]
IMF expects UK to grow just 1pc as forecasts cut January 23, 2013 GROWTH in the UK will be even more sluggish than previously expected in 2013, while the Eurozone’s economic output will shrink again, the International Monetary Fund (IMF) said yesterday. The lending body slashed its GDP projections for regions throughout the world, predicting that global growth will slow to 3.5 per cent in 2013 – slightly [...]
JP Morgan boss Dimon hits out at accusations of opaqueness January 23, 2013 JP MORGAN chief executive Jamie Dimon made a staunch defence of the banking industry yesterday after accusations that big banks are not transparent enough. Speaking at the World Economic Forum in Davos, Dimon warned of further regulation of the industry. “I think a lot of regulators are overwhelmed,” he said. “They’re overwhelmed with rules and [...]
Greenhill profits fall as advisory gains offset by bad investments January 23, 2013 GREENHILL & CO, the New York based investment bank and advisory firm, reported a 6.1 per cent fall in profits in the fourth quarter of 2012 on lower returns from investments. Despite a 17 per cent rise in revenues from advising clients, a poor run of investments pushed profits down to $15m (£9.5m) from just [...]
Metro boss: I wouldn’t set up UK bank again January 23, 2013 METRO Bank may not have been established if founder Vernon Hill had realised in advance how arduous and expensive the process of getting a banking licence would be, the American billionaire said yesterday. It is famously difficult to get a new banking licence issued, as the new venture’s backers must prove they have enough capital [...]
Eurozone’s consumer morale shows some sign of recovery January 23, 2013 CONSUMER confidence in the euro area has jumped sharply in the first month of 2013, a survey showed yesterday, while separate data revealed that the debt ratios of Eurozone governments are beginning to stabilise. And on a rare day of positive figures for the single currency area, Portuguese debt yields fell to their lowest since [...]
Lloyds renews job cutting plan with another 940 staff to go January 23, 2013 LLOYDS staff in roles from IT support to insurance to branch management were yesterday notified they will be leaving the bank as it continued to roll out its plan to cut another 15,000 jobs. Lloyds informed 940 staff across the country they will be losing their jobs over the next three to six months, depending [...]
Retail bonds considered for compensation January 23, 2013 PROVIDERS of a new high-profile investment product are actively lobbying to be included in a government-run compensation programme, City A.M. has learned. Oliver Cardigan, a director at Numis Securities, said his company has had discussions with “top people in government” in the hope of extending consumer protection to retail bonds. Numis want the FSA-controlled Financial Services [...]
