Intesa Sanpaolo not eyeing banks February 12, 2012 Intesa Sanpaolo, Italy’s biggest retail bank, is not eyeing Banca Monte dei Paschi (MPS) di Siena or other Italian banks, its chief executive said in an Italian newspaper yesterday. MPS needs to find €3.3bn by the end of June to meet tougher capital requirements and it could become a takeover target. Sources said the foundation [...]
EX-TRADER’S INSIDE JOB ON MORGAN STANLEY February 12, 2012 ART IMITATES life in the new novel On the Floor by former Morgan Stanley bond trader Aifric Campbell. “The real truth about the City – the pressure and the ruthlessness – is best written about by people who have lived it,” says Campbell, who drew on her years as Morgan Stanley’s first female MD on [...]
BILL OF THE WEEK February 12, 2012 THE CRACK Baby, a favourite with Chelsea property developers, isn’t as illegal as it sounds. But still – judging by the 26 vodka and champagne concoctions of the same name a party of 14 socialites got through when they visited Eclipse – the drink is just as addictive as its Class-A namesake. As is the [...]
CBI: Economic recovery will kick in soon February 12, 2012 GROWTH will restart early this year, the Confederation for British Industry’s (CBI) economic forecast predicted today, pointing to positive business survey data. The BDO optimism index, also published today, points to a rebound from the middle of 2012. However, the Institute for Turnaround (IfT) sounded a note of caution, arguing low consumer spending threatens to [...]
Inflation to fall as VAT drops from data February 12, 2012 CONSUMER price index (CPI) inflation figures published tomorrow are set to show the pace of price rises slowed further, as 2011’s VAT rise drops out of the data and commodities prices slowed. CPI inflation fell from 5.2 per cent in the year to September to 4.2 per cent in December. Economists widely expect the headline [...]
ANALYSTS’ VIEWS: WHAT WILL TOMORROW’S INFLATION DATA SHOW? February 12, 2012 VICKY REDWOOD | CAPITAL ECON “Inflation now appears to be on a clear downward trend. As the VAT effect drops out, knocking 0.7 per cent or so off inflation, we predict a fall to 3.2 per cent in January – high enough to prompt an explanatory letter to the Chancellor. We expect inflation to be [...]
More first time buyer mortgages February 12, 2012 The number of mortgages offering 95 per cent loan-to-value (LTV) deals to first time buyers has hit its highest level since before the financial crisis, the Mortgage Advice Bureau claims this morning. The broker says there are currently 59 such deals open to people looking to make their first step onto the property ladder, offered [...]
Russians grab investment visas February 12, 2012 Wealthy Russians are increasingly moving to the UK through the use of “investment visas”, commercial law firm McGrigors has said today. The number of investment visas issued has surged from 43 in 2008 to 320 in 2011, with over a fifth granted to Russians. Introduced in 2008, the visas give a three-year right to stay [...]
Step-parents fail to update wills February 12, 2012 Parents with step children or adopted children are around twice as likely to put off the drawing up of a will, according to figures from Investec’s wealth and investment arm. The group says that 35 per cent of parents with step children have “avoided creating or amending a will because they are unable to decide [...]
Small companies borrowing less February 12, 2012 The number of small firms using bank overdrafts or loans has dropped in the last two years, according to a poll by the Federation of Small Businesses (FSB). The group will argue today that banks are not lending enough to small firms.
