PANTHER BOSS ON A TRIP INTO NOSTALGIA April 26, 2010 ANDREW Perloff, the eccentric chairman of property firm Panther Securities, has something of a cult following among City investors due to his penchant for using company results statements as an excuse to reminisce at length about life’s little quirks. But yesterday’s final results announcement was a corker even by Perloff’s own standards, ranging from fervent [...]
Osborne: hung house will paralyse the UK April 26, 2010 THERE is a “clear risk of economic paralysis, higher interest rates and a loss of market confidence” if the general election results in a hung parliament, George Osborne warned yesterday. Speaking in an exclusive interview with City A.M., the shadow chancellor said the Tories needed to win an overall majority so they could make “the [...]
Republicans block regulation debate April 26, 2010 REPUBLICANS gained enough US Senate votes yesterday to block debate on the financial regulation reform bill, dealing a blow to its Democratic backers and the Obama administration. The vote will send key lawmakers back to the negotiating table to hammer out a bipartisan compromise, with modified legislation expected to return to the Senate floor soon. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 26, 2010 FINANCIAL TIMES FISHMEAL PRICES SCALE ALL-TIME HIGH The price of fishmeal, the key feedstuff for salmon and shrimp aquaculture, has surged to an all-time high after an earthquake wiped out processing plants in Chile, the world’s second-biggest exporter of the commodity, this year. The blow comes as the industry is already battling a supply squeeze [...]
Osborne fleshes out his reform plan April 26, 2010 OVER the past week, the election campaign has started to feel a little like Groundhog Day: the polls are barely changing, confirming that we are now in a three-way race pointing to a hung parliament; there are no new policies from any of the parties; it seems at times as if we are merely being [...]
Insurers criticise IMF tax plan April 26, 2010 Insurance lobby group The Geneva Association, yesterday wrote to the G20 group of nations criticising proposals to subject insurers to a global financial services tax, calling it unfair and deeming it detrimental to consumers. The group describes the tax proposals, as set out by the International Monetary Fund as “inappropriate and arbitrary”. The move by [...]
Visa to slash retailer card fees April 26, 2010 Visa is to significantly cut debit fees charged to European retailers as part of a settlement with authorities. The dispute first started after European retail association, Eurocommerce drew attention to “interchange fees” charged by both Visa and MasterCard. Visa will cap its cross border interchange fees at 0.2 per cent for four years. Visa said [...]
German delay on Greek deal rocks market April 26, 2010 GERMANY and the International Monetary Fund demanded clearer details on Greece’s planned budget cuts yesterday, spooking markets into pushing the country’s borrowing costs to the highest level in 12 years. German chancellor Angela Merkel said the €45bn (£38.8bn) support package offered by the European Union and the IMF would stand firm provided “tough measures” were [...]
Portugal suffers from jitters on the back of Greek uncertainty April 26, 2010 YIELDS on 10-year Portuguese bonds rose to 5.3 per cent yesterday, as investors fretted over what the Greek debt crisis might mean for some of Europe’s more peripheral economies. Now 10-year bond yields in Portugal have risen from 4.28 per cent a couple of weeks ago and yields on shorter term debt is rising too. [...]
Hargreaves to step down at broker April 26, 2010 PETER Hargreaves yesterday announced that he is stepping down as chief executive of Hargreaves Lansdown, the retail broking house he founded in 1981 along with his business partner Stephen Lansdown. The 63-year-old Hargreaves holds nearly a third of the group’s shares. His decision to quit was released after the close of the stock market yesterday, although [...]
