City A.M. panel fears nations may quit euro within 5 years May 26, 2010 TWO thirds of City A.M. panellists fear at least one Eurozone nation will leave the euro within the next five years. A staggering 62 per cent of our specially selected decision-makers feel the worsening Eurozone sovereign debt crisis will leave the euro at least one player down. Only 32 per cent thought all nations will [...]
CITY VIEWS: SHOULD THE GOVERNMENT RAISE CAPITAL GAINS TAX? May 26, 2010 BEN MOHAMOODALLY | ACCENTURE “The government could increase capital gains tax, which would help the revenue stream. But CGT is an awful tax and stops the middle classes from getting rich.” GRAHAM MCCULLEY | CAPITAL ASSET MANAGEMENT “Capital gains tax is currently low, so it is likely to increase. The government could raise taxes across [...]
Laws: we’re right to cut public spending May 26, 2010 DAVID Laws mounted a strong defence of the coalition’s plans to cut £6.2bn of public spending this year. The chief secretary to the Treasury fended off an urgent question from Alistair Darling in the Commons yesterday, arguing that the cuts were necessary because Labour had left the public finances in such a terrible state.
Law bodies need reform May 26, 2010 THE LEGAL profession has to reassess its regulation structure if it is to survive, the Law Society president Robert Heslett warned last night. Speaking at the Said Oxford Business School, Heslett hit out at the overly-complex regulatory oversight system and the “blurry” boundaries between legal supervisory bodies. “The Act was designed to simplify a system [...]
Nationwidesuffers as profits halve May 26, 2010 NATIONWIDE, Britain’s largest building society, said it expected broad stability in the housing market over the next 6-12 months, when posting a near halving of full-year profit yesterday. House prices have recovered ground in recent months, though they fell in February and April, according to rival lender Halifax, raising questions over the strength of the [...]
SVB applies to FSA for bank licence May 26, 2010 SILICON Valley Bank (SVB), the US lender that backed the Twitter social networking phenomenon, has filed an application for a UK banking licence in an attempt to ramp up its operations on this side of the Atlantic. SVB yesterday handed its official application to the Financial Services Authority, a month after it emerged that the [...]
Disney pair charged with insider trading May 26, 2010 A WALT Disney employee and her boyfriend have been charged with trying to sell insider information to over 30 hedge funds, including a tip Disney was in advanced talks to sell its struggling ABC television network – which Disney said was false. Disney said it is fully cooperating with the investigation. “The reference in the [...]
US seeks auto recall power May 26, 2010 LEGISLATION giving regulators more power to force car recalls and create standards to prevent unintended acceleration is headed to the full US House of Representatives. Prompted by industry and regulatory shortcomings identified in the congressional investigation of recent Toyota recalls, the most sweeping auto safety legislation in nearly a decade would increase caps on fines [...]
Astaire ditches buyout strategy May 26, 2010 STOCKBROKER Astaire yesterday stunned the market after it announced a U-turn in strategy and the resignation of its senior management team. Edward Vandyk – the broking veteran who took the helm last year following a bitter takeover battle and changed the firm’s name from Blue Oar to Astaire – stepped down as chief executive of [...]
Bank lending weak from deleveraging May 26, 2010 MORTGAGE lending slumped in April to its lowest monthly level since February 2001 and the number of mortgage approvals only inched higher in what is typically a strong month for the housing market, fresh statistics from the British Bankers’ Association (BBA) showed yesterday. Banks’ net mortgage lending fell to £1.8bn in April compared with £2.3bn [...]
