What the other papers say this morning – 14 August 2013 August 13, 2013 FINANCIAL TIMES EU pushes single market in telecoms Brussels’ top competition authority has called for 28 national telecoms regulators to be replaced by a single pan-European watchdog. The report from commissioner Joaquin Almunia criticises EU telecoms chief Neelie Kroes for lacking ambition in her plan to create a single telecoms market. Kroes hopes her proposals [...]
Train users set for fare inflation pain next year August 13, 2013 COMMUTERS will be saddled with another above-inflation increase in train fares in January, as rail companies get the go-ahead to hike prices. July’s retail prices index, which is used to determine fares for the next year, came in at 3.1 per cent. Rail companies are allowed to add one per cent above inflation, meaning a [...]
London Whale to avoid charges as ex-boss vows to clear name August 13, 2013 THE FORMER boss of the trader who lost JP Morgan more than $6bn (£3.9bn) yesterday said he is co-operating with the authorities and will clear his name. Ex-trader Bruno Iksil, the so-called London Whale, built up large derivatives positions which lost the bank money. He is believed to be giving evidence to the US law enforcement [...]
Barclays’ finance boss Chris Lucas to leave in coming days August 13, 2013 FINANCE director Chris Lucas is leaving Barclays sooner than expected on grounds of ill health, the bank is expected to announce today. In February the board member revealed his plans to quit and was expected to stay until early 2014. But he has accelerated the timetable, which will see JP Morgan’s chief finance officer Tushar [...]
Jobs market tough for recruitment firm Page August 13, 2013 RECRUITMENT group Michael Page posted an 11 per cent drop in pre-tax profit for the first six months of the year yesterday, and said conditions are likely to remain tough in the coming quarter. The professional jobs specialist said revenues were down 0.9 per cent at constant exchange rates at £503.2m, while profits before [...]
Bottom Line: Australia slowdown not a bust August 13, 2013 SUCH is the FTSE’s reliance on mining and commodities stocks that closely watched data from the sector – be it a slowdown in the Chinese economy or a lift in factory output – can make or break a day’s trading. But as Michael Page proved yesterday, the knock-on effects go even further. The white-collar [...]
BP sues US over ban on federal contracts after Gulf oil disaster August 13, 2013 OIL GIANT BP is suing the US Environmental Protection Agency (EPA) to try to overturn a ban on it gaining new US government contracts. The FTSE 100-listed firm was temporarily suspended from bidding on new federal contracts – including lucrative military fuel supply deals – last November after pleading guilty to its role in the [...]
May planning counter-terrorism tactics to tackle organised crime August 13, 2013 HOME secretary Theresa May is to unveil a major new policy that will call for organised crime to be tackled in the same way as counter-terrorism, City A.M. has learned. The policy, to be unveiled in a speech shortly before this autumn’s Conservative conference, will help boost May’s party leadership ambitions. She has already impressed Tory [...]
FBI arrests in penny stock fraud August 13, 2013 US Federal prosecutors said yesterday they had arrested seven people in a more than $140m (£90.6m) international penny stock scheme that involved fraudulently inflating share prices and trading volumes. Two people charged, including the alleged mastermind, remain at large, according to the office for the US Attorney for the Eastern District of New York.
Czech PM hands in resignation August 13, 2013 The Czech cabinet dominated by allies of leftist president Milos Zeman resigned yesterday after losing a confidence vote last week, clearing the way for early elections that could resolve a political deadlock. Zeman accepted the resignation and said Rusnok would stay on in a caretaker capacity until the formation of a new government.
