Nigel Lawson contradicts chancellor by calling for a break up of Eurozone November 23, 2011 FORMER Tory chancellor Nigel Lawson has clashed with current Number 11 inhabitant George Osborne, by labelling plans to preserve the Eurozone as “mad”. Osborne has encouraged the 17 member states of the Eurozone to push forward with plans for greater fiscal integration, yet his predecessor has slammed the idea. “It was the Eurozone that caused [...]
Ireland calls for discount on debts to aid recovery November 23, 2011 IRELAND yesterday called on the EU to provide it with debt relief, arguing that the country had shouldered a disproportionate burden within the Eurozone during earlier crises. Finance minister Michael Noonan told journalists: “We have borne a disproportionate share of protecting the European banking system… The overall burden of debt is going to impede growth.” [...]
HSBC: Vickers is biggest cost of London HQ November 23, 2011 THE VICKERS report is the single biggest factor making the UK a less attractive financial centre than it was in the past, according to HSBC chairman Douglas Flint. Appearing before a committee of MPs, Flint said that the bank’s $2.1bn (£1.35bn) estimate of the annual costs from one single measure in the Vickers report would [...]
Blow for RBS as its head of retail banking leaves November 23, 2011 ANOTHER senior executive joined the management exodus from taxpayer-owned banks yesterday as RBS’s head of retail unexpectedly quit. Brian Hartzer, who also runs the bank’s wealth division and its troubled Irish business, Ulster Bank, is leaving the bank for family reasons to move back to Australia and take up a similar job, the bank said. [...]
Banks claim reform could trigger crisis November 23, 2011 THE UNCERTAINTY caused by the Vickers report risks generating a UK credit crunch, Britain’s major lenders warn in a confidential lobbying paper sent to the Treasury last week. In the paper seen by City A.M., and in a meeting with the Treasury last week, banks said that the government’s lack of clarity over what losses [...]
CAPITAL PAINS AND GAINS November 23, 2011 Chelsea and Villas-Boas face Euro exit after late goal sends them to fourth defeat in five BAYER LEVERKUSEN 2 vs CHELSEA 1 CHELSEA manager Andre Villas-Boas admits he faces the biggest challenge of his fledgling managerial career to lift the confidence of his ailing team, who are now in real danger of suffering an ignominious [...]
Arsenal secure top spot with a game to spare as Van Persie draws yet more superlatives November 23, 2011 ARSENAL 2 vs DORTMUND 1 ARSENAL manager Arsene Wenger admitted his surprise after the Gunners became the first English team to reach this season’s Champions League knockout stage. Top scorer Robin van Persie netted twice — taking his tally to 17 from 18 games for Arsenal this term and 38 in 41 this calendar year [...]
Moody slams criticism in dossier leaks November 23, 2011 ENGLAND’S World Cup captain Lewis Moody has hit back at criticism of his conduct and leadership at the tournament, after leaked official reports laid bare the failings of the team’s disastrous campaign. Moody was accused by Rugby Football Union (RFU) elite rugby director Rob Andrew of leading a revolt by senior players over payments for [...]
Kompany: City would take Europa League seriously November 23, 2011 MANCHESTER CITY captain Vincent Kompany is confident Villarreal can offer his side a Champions League lifeline, but admits winning the Europa League now looks to be the most likely source of continental glory for the Premier League leaders this season. Napoli, following their 2-1 win over City on Tuesday, will qualify for the knockout stages [...]
Fairytale complete for Apoel November 23, 2011 MINNOWS Apoel Nicosia created Champions League history last night by becoming the first Cypriot club to qualify for the knockout stages of the tournament following a 0-0 draw away against Zenit St Petersburg. The Cypriot champions, who regularly play in front of sub 10,000 crowds in domestic competition, had to withstand a second half onslaught [...]
