The original Mifid directive May 24, 2011 THE original Markets in Financial Instruments Directive (Mifid) was drafted in 2004 and implemented 4 years ago. The directive is up for review. So what were the shortcomings of the original European Commission directive? One of the core tenets of the original review was to shore up protection for clients that were classed as sophisticated, [...]
The new Sharan: big AND clever May 24, 2011 BACK in the early 90s it felt like MPVs were everywhere. Created to solve the challenge of how to move big families about, they were sold as useful and trendy until the public caught on to the fact that the reality was rather different. Though big, these lumbering beasts often proved impractical, with minimal luggage [...]
CAR TALK May 24, 2011 ASTON MARTIN TEAMS WITH ZAGATO To celebrate the 50th anniversary of the iconic DB4GT Zagato, Aston Martin has created an elegant, new V12 Zagato concept with the Italian design house Zagato. The car has a handcrafted aluminium body and features the iconic Zagato double bubble roof. The car premiered at the Villa D’Este Concours, Lake [...]
Retail sales growth slows May 24, 2011 Retail sales grew more slowly in May, although they beat expectations, and firms are cautious about the outlook for growth next month, a survey by the Confederation of British Industry showed. The figures came as Bank of England policymaker Paul Fisher said he was “nervous” about the strength of household demand against a backdrop of [...]
Miners buoy FTSE but ratings threat casts shadow May 24, 2011 Mining stocks put the FTSE 100 on the front foot in early trading as metal prices rose – boosted by Goldman Sachs recommending investors to buy into commodities. Commodities trader Glencore made its full market debt and rose slightly from its price on the so-call grey market, but remained below the 530p offer price of [...]
Public borrowing in new blow May 24, 2011 Britain recorded its worst April public sector net borrowing on record last month as a fall in tax receipts got the new fiscal year off to a disappointing start, official data showed. The public sector posted a net cash requirement of £3.259bn last month after a repayment of 5.834 billion pounds in April 2010. The [...]
Obama in London May 24, 2011 President Barack Obama begins a visit to Britain where he and Prime Minister David Cameron will review NATO action to help end conflict in Libya and Western policy towards uprisings in the Arab world. He and Cameron will also launch a joint US-British group to tackle national security challenges together. As a precautionary measure Obama [...]
Glencore edges up – but below offer price May 24, 2011 Shares in commodities trader Glencore ticked higher in their first day of official trade but remained well below the offer price, dashing hopes shares would rise after it set a mid-range flotation price. Sources close to the matter had said Glencore, the world’s largest diversified commodities trader, felt it had left “money on the table” [...]
Moody’s in threat to cut rating of 14 UK financial groups May 24, 2011 Credit rating agency Moody’s said it may cut its rating on 14 British financial groups, including Lloyds and Royal Bank of Scotland, following a reassessment of the level of systemic support they need. The companies which could be downgraded by Moody’s included Bank of Ireland UK, Co-Operative Bank, Coventry Building Society (A3); Lloyds TSB Bank [...]
M&S profit up 13pc May 24, 2011 Retailer Marks & Spencer plans to test new store formats more tailored to their localities, it said, as it posted a 13 per cent rise in annual profit. The country’s biggest clothing retailer, which also sells upmarket foods and homewares, said it would start testing the new formats from October, as part of a series [...]
