Energy row heats up November 14, 2012 FRESH claims that traders fiddled the wholesale gas price surfaced yesterday as the government pledged to ensure the “full force of the law” is used on those found abusing the market. Energy secretary Ed Davey yesterday stressed the coalition’s “absolute determination to clamp down on any abuse that is uncovered, wherever it might be and [...]
Markets wobble as eyes stay fixed on euro talks November 14, 2012 MARKETS took a hit yesterday from strife between key bailout providers to crisis-struck Greece, yet later recovered as hopes rose that Spain might finally request a full sovereign bailout. The euro sank to a two month low, touching $1.266, as the International Monetary Fund (IMF) admitted differences of opinion between it and the Eurogroup of [...]
Scandals have made the UK a dangerously low-trust society November 14, 2012 IN his bestselling book Trust, Francis Fukuyama argued that social capital is an essential prerequisite to prosperity. High-trust societies enjoy complex networks of voluntary associations, and this creates a climate conducive to commercial cooperation, entrepreneurship, the building of large companies and international trade. He warned in the 1990s that trust was in decline in the [...]
Derivatives trading shrinks on weak dollar November 14, 2012 THE GLOBAL derivatives market shrank for the second consecutive six-month period in the first half of 2012, and continued the downward trend experienced since the start of the financial crisis, according to figures out yesterday from the Bank of International Settlements. The total notional amounts of over the counter (OTC) derivatives outstanding fell to $639 [...]
What the other papers say this morning November 14, 2012 FINANCIAL TIMES Government to delay welfare reform The government is prepared to delay its flagship welfare reform amid fears the complex changes may need to be more thoroughly tested before being extended to all benefit claimants. Universal credit, under which six benefits will be incorporated into a single payment, lies at the heart of a [...]
Lagardere to sell EADS stake November 14, 2012 French media group Lagardere said yesterday it will probably sell its 7.5 per cent stake in Airbus owner EADS by the end of next year. Chief executive Arnaud Lagardere said it was “more than probable” that the group would sell its stake, after the firm called off merger talks with BAE Systems last month. His [...]
Ivy agrees Madoff scheme payout November 14, 2012 New York investment adviser Ivy Asset Management has agreed to pay $210m (£132m) to settle lawsuits for advising clients to invest in Ponzi schemer Bernard Madoff, the city’s attorney general Eric Schneiderman said yesterday. Ivy, a subsidiary of Bank of New York Mellon, withheld damaging information about Madoff to make millions of dollars in fees, [...]
Give someone Opportunity this Christmas November 14, 2012 BEATRICE and her family are among the many that were helped by the money raised from the appeal last year. Full Name: Beatrice Boaten Gender: Female Age: 60 City, Country: Kumasi, Ghana Children: five aged 18 to 34 Husband: David, age 72 What type of business do you operate? I own a three acre cocoa [...]
Here we have the perfect charity for all our readers November 14, 2012 TODAY City A.M. is launching its annual Christmas appeal after an extremely successful debut appeal a year ago. As a newspaper that has become a standard bearer for private enterprise and individual responsibility, I’m delighted that we are continuing our partnership with Opportunity International, a brilliant charity that helps poor entrepreneurs worldwide build independent and [...]
City A.M.’s Christmas appeal outstripped most rivals in 2011 November 14, 2012 We hope to beat that this year and be the number one appeal LAST year’s City A.M. Christmas appeal raised almost £1.6m – a hugely generous showing by our readers and the second highest grossing Christmas newspaper appeal of 2011, according to industry estimates. The total from last year was, in part, made possible by [...]
