BBA: blanket bailout unfair October 11, 2011 EUROPEAN governments should focus on getting their houses in order and should not force blanket recapitalisation on the region’s banks, according to the head of the British Bankers’ Association (BBA), the industry body. BBA chief Angela Knight told City A.M. that bailing out banks should only be done if necessary as the third leg of [...]
Slovakia’s rebellion will be dismissed October 11, 2011 HOW typical. The Slovakian parliament last night voted against expanding the European Financial Stability Facility (EFSF), the Eurozone bailout fund. That is a major blow to the project: the new rules need to be ratified by all members to come into force. But no sooner was the scheme voted down – forcing the collapse of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 11, 2011 FINANCIAL TIMES MPS SET TO GRILL TAX OFFICIAL The UK’s top tax official is likely to be questioned by MPs today over leaked documents concerning the settlement of a tax dispute with Goldman Sachs. Dave Hartnett, permanent secretary for tax at Revenue & Customs, shook hands on a settlement last December that apparently waived a [...]
Paulson outlines his fears October 11, 2011 BILLIONAIRE American investor John Paulson has said his hedge fund could suffer redemptions worth between 20 and 25 per cent of its assets by the end of the year. The “worst case” scenario was outlined in a call to Paulson & Co investors yesterday. They were told that leverage in the firm’s Advantage Plus fund [...]
Pressure on Liam Fox grows October 11, 2011 The Labour party yesterday accused the government of blocking a proper investigation into defence secretary Liam Fox and his relationship with Adam Werrity. Shadow deputy prime minister Harriet Harman said in parliament that the government was “protect[ing] the secretary of state”. Werrity met with civil servants yesterday as part of a probe into his overseas [...]
US foils Iran assassination plot October 11, 2011 The United States accused Iran yesterday of backing a plot to kill the Saudi ambassador to Washington, escalating tensions with Tehran and stirring up a hornets’ nest in the Gulf, where Saudi Arabia and Iran have long jostled for power. US authorities said they had broken up a plot by two men linked to the [...]
EXCLUSIVE: BATES JOINS FANS’ FIGHT FOR BRIDGE October 11, 2011 Former Chelsea chairman backs supporter campaign to prevent sale of stadium freehold to club CONTROVERSIAL former Chelsea chairman Ken Bates has emerged as an unlikely saviour for Blues fans opposed to selling the freehold to Stamford Bridge back to the club, City A.M. has learned. Bates is backing supporter-led group Say No CPO’s campaign against [...]
Bates vote could split supporters October 11, 2011 KEN BATES, the controversial entrepreneur who owned Chelsea Football Club for 21 years before selling out to Roman Abramovich, may yet come back to haunt his successor who fell out with him several months after the takeover. Bates is planning to vote against the Russian’s offer to buy out Chelsea Pitch Owners, the co-operative that [...]
Liverpool seeking TV breakaway October 11, 2011 LIVERPOOL are ready to explore the possibility of breaking away from the rest of the Premier League and negotiating their own lucrative overseas TV rights deal. By going it alone the Merseysiders believe they could net a far larger windfall than the current structure, which divides the £1.4bn three-year contract equally between the 20 Premier [...]
Olympic Stadium deal axed but West Ham still on pole October 11, 2011 MAYOR of London Boris Johnson has assured West Ham the club will “almost certainly” win the race to move into the Olympic Stadium when a second tendering process begins in the next few weeks. The Olympic Park Legacy Company (OPLC) will lay out its criteria and invite interest later this month or in early November [...]
