Compliance culture takes over the city November 22, 2012 PAY in compliance and risk jobs is soaring thanks to the wave of regulation sweeping the financial services industry, while other City workers see mass layoffs and salary cuts. New research from recruiters Robert Half, given exclusively to City A.M., shows high demand for experts in audit, compliance and risk management is driving wages through [...]
BBC looks to veteran Lord Hall for director general November 22, 2012 THE BBC Trust yesterday made the surprise move of appointing Tony Hall, the chief executive of the Royal Opera House, as the replacement for departed director-general George Entwistle. Former BBC head of news Hall, who left the corporation after 28 years in 2001, was considered for the job during the process that saw Entwistle appointed [...]
Technology and human ingenuity will rescue the economy November 22, 2012 IF you think we have it bad in today’s stagnant, mismanaged, low-growth Western economies, think of our ancestors. Their fate was truly hopeless. Global GDP per person grew by 0.04 per cent a year between the years 1000 and 1820, a note from Capital Economics reminds us – in other words, incomes and quality of [...]
What the other papers say this morning November 22, 2012 FINANCIAL TIMES State Street in pension fee probe UK regulators are investigating allegations that State Street overcharged Ireland’s state pension fund and several big UK corporate pension funds, including those of the Royal Mail and J Sainsbury, billing them for fees not included in their contracts, according to people familiar with the matter. Ireland’s national [...]
EU battle lines drawn over budget plans November 22, 2012 EUROPEAN Union negotiators are close to securing UK and German backing for a deal on nearly a trillion euros of spending over the next seven years, but concessions will be needed to win support from France, Poland and some southern states. European Council President Herman Van Rompuy, who is chairing the summit of EU leaders, [...]
Post Office puts out first results for 370 years November 22, 2012 THE Post Office has today published its first trading statement in its 370-year history following its split from the Royal Mail earlier this year. The government owned business, which is the largest retailer in the country, became an independent business for the first time in April after its historic divorce from Royal Mail. The company [...]
UBS set to face regulator fine of up to £50m for Adoboli loss November 22, 2012 REGULATORS are closing in on a deal to fine Swiss bank UBS millions of pounds over its $2.3bn (£1.4bn) trading loss, following the conclusion of the criminal trial against its former rogue trader Kweku Adoboli earlier this week. UK regulator the Financial Services Authority and its Swiss counterpart, the Swiss Financial Markets Authority (FINMA), are [...]
Household energy bills to jump by £75 as coalition secures deal November 22, 2012 PEOPLE’s energy bills will go up by £75 a year in a bid to increase investment into wind farms and other green energy projects, under a deal agreed between the Conservatives and Liberal Democrats after months of wrangling. The agreement, which paves the way for next week’s long awaited energy bill, will be unveiled by [...]
Bosses at Bank of England row over ringfence November 22, 2012 SENIOR BANK of England policymakers were at loggerheads in a parliamentary hearing yesterday, arguing over how the incoming banking ringfence should work and where it should be placed. Governor Sir Mervyn King, his deputy Paul Tucker – the frontrunner to take the top job next year – and director Andy Haldane revealed they disagree over [...]
RIM shares rally on fresh hopes November 22, 2012 BLACKBERRY maker Research in Motion (RIM) received a rare boost yesterday as renewed optimism over its next range of smartphones sent shares in the company up more than 16 per cent. The Canadian firm has seen its share price repeatedly battered by gloom over its potential to recover former glories in the face of competition [...]
