Lest we forget: NYC mourns victims of 9/11 September 11, 2011 THOUSANDS of mourners gathered at the World Trade Center in New York City yesterday to remember the victims of 9/11 on the tenth anniversary of the attacks. President Barack Obama and former President George Bush joined families and mourners at a new memorial built at Ground Zero, where the names of all of those who [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 11, 2011 FINANCIAL TIMES JPMORGAN CHIEF SAYS BANK RULES ‘ANTI-US’ New international bank capital rules are “anti-American” and the US should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, has said. In an interview with the Financial Times, Mr Dimon said he was supportive of forcing banks to [...]
Nikkei falls on Eurozone worries September 11, 2011 Asian stock markets tumbled in early trading this morning on fears that the Eurozone debt crisis is spiralling out of control as Greece stands perilously close to default. Japan’s Nikkei shed 1.8 per cent in early trading to 8.577.22 while the broader Topix index tumbled 1.8 per cent to 742.39. The falls followed a torrid [...]
Bartz resigns from Yahoo board September 11, 2011 Carol Bartz has resigned from Yahoo’s board, a spokesperson has confirmed, three days after the company’s board fired her from her post as chief executive. Bartz had previously said that she planned to remain on the internet company’s board of directors, a statement that conflicted with that of a company spokesman, who said Bartz would [...]
PwC to unveil 6pc jump in its revenues September 11, 2011 TURNOVER at professional services firm PwC rose by six per cent last year, as increased demand from its financial services clients offset a fall in revenues from the public sector. The accountancy giant will announce this morning that revenues from its UK, Middle East and Channel Islands operations hit £2.46bn in the year to 1 [...]
Profiting from reshuffles and regulation September 11, 2011 IT’s been a busy year for PwC’s reshuffled executive board. As well as moving to its new, ultra-sustainable offices at More London, the firm has succeeded in wrestling the Aviva audit mandate from rival Ernst & Young after 10 years, and bulked up its advisory services with the acquisition of technology and management consultants Diamond [...]
IFS: family living standards to fall by 10pc over the next three years September 11, 2011 BRITISH families will continue to feel the effects of the “great recession” of 2008-2009 for up to a decade, according to the Institute for Fiscal Studies (IFS), with living standards declining by more than 10 per cent over the next three years. The respected independent economic forecaster says the impact of the financial crisis and [...]
Delay banking reforms: BCC September 11, 2011 A LEADING business organisation has urged the government to prioritise growth over regulatory reform ahead of today’s publication of the final report from the Independent Commission on Banking (ICB) John Longworth, the new director general of the British Chambers of Commerce (BCC) said he accepted the “need to ensure our banking system is robust” but [...]
Consumers should decide which banks are risky September 11, 2011 THE key principle has been established: banks are too big to fail. But Sir John Vickers’ preferred solution – ring-fencing – is cosmetic, simplistic and likely to be irrelevant to future crises. Instead the reforms should focus on transparency and choice. There is little competition in banking and consumers have no real choice at all. [...]
A tenth of applicants still refused board approval by City watchdog September 11, 2011 THE Financial Services Authority (FSA) is still rejecting just under a tenth of applications for professionals seeking to become board members, new figures reveal. Despite regular communication between the regulator and City firms, it appears that management teams are no closer to understanding what it is the FSA wants in its approval process for board-level [...]
