No bonus cut at Stan Chart November 25, 2010 EMERGING markets bank Standard Chartered yesterday distanced itself from talks between the UK’s biggest banks over limiting bonus payouts. RBS, HSBC and Barclays are reportedly in discussions with each other and the government over potentially cutting 2010 bonuses as well as lending more to businesses. The UK’s five biggest banks may also contribute up to [...]
Learn the lessons of financial history November 25, 2010 THERE is nothing more enlightening than financial history – yet perhaps the only real lesson of all kinds of history is that we never learn from it. Let me attempt, nevertheless, to draw a couple of key conclusions. The first lesson from market history is that slumps and market crashes can always be much, much [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 25, 2010 FINANCIAL TIMES AIRLINE FINANCING RIFT DEEPENS Ryanair and Emirates have taken the unusual step of joining forces with eight other airlines as a multibillion-dollar row over aircraft financing starts to split the world’s largest airlines into two rival camps. The Irish budget airline and Dubai’s Emirates normally shun industry alliances. But yesterday they revealed they [...]
Now is the perfect time to capture a castle November 25, 2010 WE may not all be able to bag our very own Prince William, but that doesn’t mean living like a king or queen need be out of the question. Knight Frank has reported a spate of castles on the market in Scotland, with six currently for sale. (Scotland is castle central because of the warring [...]
IMA slams new directive November 25, 2010 THE head of the UK’s Investment Management Association (IMA) yesterday blasted the UK government as “oblivious” when drafting the newly-passed Alternative Investment Fund Managers (AIFMD) directive. Richard Saunders, IMA chief executive, told a Brussels conference the bill is “a case study of how not to do legislation” as “political horse-trading” took over the drafting process. [...]
Cahn to leave UKTI in March November 25, 2010 Sir Andrew Cahn is to quit the government’s international trade body UK Trade and Investment after five years as chief executive. He will step down when his contract ends in March 2011, reportedly for a private sector role. Cahn has led UKTI’s work to grow outbound UK investment and attract overseas investors, including through the [...]
Irish insurers in ratings warning November 25, 2010 Five insurers in Ireland have been warned they face downgrades to their credit ratings by Standard & Poor’s following its decision to downgrade Ireland’s sovereign debt. The units are Allianz’s Irish general insurance business and its Worldwide Care business, along with Aviva Insurance Europe, Irish Life Assurance and finally RSA Insurance Ireland. The Irish-based insurers [...]
FOCUS ON: COLCHESTER, ESSEX November 25, 2010 HAWKINS WHARF Price: From £116,500 for a one-bed flat, from £220,000 for a three-bed town house This development is situated on the banks of the River Colne and many of the properties have views over the river. There will be 221 homes, all with luxury interiors and appliances. Contact: Weston Homes on 01279 873300 or [...]
Posen claims Mervyn King too political November 25, 2010 THE Bank of England’s most senior policymakers were divided over Mervyn King’s support for the government’s austerity measures. Adam Posen, an external member of the Monetary Policy Committee (MPC), yesterday said the governor’s endorsement of the coalition’s deficit reduction programme was “excessively political”. “A number of people on the committee [thought he was being]… excessively [...]
Citi planning new European retail operation November 25, 2010 CITIGROUP is to revive its retail banking operations in Europe through targeted new openings in select major European cities from 2011. The move marks a return to growth in the bank’s retail presence after a period of winding down its branch networks in countries including the UK, as part of the terms of its bailout [...]
