‘The government aren’t the experts’: Liberal Democrats vow to push back controversial Pension Schemes Bill
Direct Line to ring in at 175p a share October 10, 2012 ADVISERS to Direct Line were last night set to price the insurance group’s shares at 175p, valuing the firm at around £2.62bn. The biggest London float of the year is now certain to get off the ground with trading ready to begin this morning. Although the price is in the bottom half of the original range, [...]
PM: I want to make the UK an aspiration nation October 10, 2012 DAVID Cameron yesterday attempted to realign the Conservatives on the side of hard-working “strivers”, telling his party conference that he wants to lead an “aspiration nation”. In a speech that sought to reconnect with the lower middle and working class voters who bought into Margaret Thatcher’s vision of Britain, Cameron said the Conservatives must be the [...]
Cameron right to back strivers – but words aren’t enough October 10, 2012 LET us hope David Cameron actually means what he says. His speech to the Tory party conference yesterday was the best he has made in years. He outlined a different vision for Britain, appealing to the strivers who want to work hard and get on in life, a crucial audience whose disenchantment with the Tories [...]
S&P cuts Spain credit rating by two notches October 10, 2012 STANDARD & Poor’s yesterday slashed Spain’s sovereign credit rating by two notches, citing rising unemployment, social unrest and a deepening economic recession that is limiting the government’s policy options. The ratings agency cut the country’s long-term credit rating from BBB+ to BBB-, just above junk territory, and warned of possible further downgrades if Spain did [...]
What the other papers say this morning October 10, 2012 FINANCIAL TIMES Goldman “muppet hunt” draws blank Goldman Sachs has told its board of directors that an internal investigation found little substance to allegations made by Greg Smith, the disaffected employee who claimed the bank has a “toxic environment” where bankers refer to clients as “muppets”. The review found that weeks before his public resignation [...]
UBS probe focused on Adoboli October 10, 2012 The head of an internal UBS probe into “rogue trader” Kweku Adoboli, accused of losing the Swiss bank $2.3bn (£1.4bn), did not consider whether others at the bank might have been involved, a London court heard yesterday .However, Ruwan Weerasekera, chief operating officer of UBS’s investment arm, said two other independent inquiries had looked into [...]
Fed finds US growing modestly October 10, 2012 The US economy is growing modestly, according to the Federal Reserve’s latest Beige Book, released last night. In its September report, based on anecdotal evidence collected by regional Fed banks, the Fed said hiring conditions were little changed over the several weeks. Its business contacts suggest economic activity is still expanding modestly in most regions [...]
City welcomes relaxing of banking rules October 10, 2012 THE CITY reacted positively to the Financial Services Authority (FSA)’s easing of banking rules yesterday, sending shares in Britain’s major banks up, although experts warned that the moves could prove risky. The FSA has been relaxing rules on capital and liquidity in recent months to encourage banks to lend. Banks are now set a fixed level [...]
A failed merger that puts a defence giant at America’s mercy October 10, 2012 THE merger of BAE and EADS should always have been seen as a long shot. The two firms may have agreed on the commercial logic of tying the knot, but they should have recognised it would never be simple to get the German, French and British governments to sign off on the marriage. As such, [...]
Phone hacking at Bakrie family ahead of Bumi board meeting October 10, 2012 TELEPHONES and emails of the influential Singapore Bakrie family have been hacked, an official of the Bakries said yesterday. The family added it had “strong suspicions” on who was behind the attacks. It comes a day before a board meeting of London-listed Bumi in Singapore, although it is understood that they are unlikely to attend. [...]
