ECB demands access to banks’ books as City braces itself for regulatory wave January 12, 2010 THE European Central Bank is on a collision course with the Financial Services Authority as it demands access to sensitive information on large UK banks. The ECB, which has grown in confidence through its handling of the financial crisis, has reached for new powers to go through banks’ books in the same way as the [...]
Pension shortfalls shrink as equity market recovers January 12, 2010 THE deficits sustained by the UK’s 7,400 private final salary pension schemes have dramatically improved on the back of rising equity markets and bond yields. Their collective shortfall shrank 65 per cent from £93bn to £33bn in December, according to the government’s Pension Protection Fund (PPF). The figures mark significant progress from the £191bn gap [...]
Bankruptcy looms for Japan Airlines January 12, 2010 FEARS that Japan Airlines is heading for bankruptcy continued to grow yesterday, with shares tumbling by 45 per cent to a new all-time low despite an increased offer of investment from its Oneworld alliance partners. The airlines, led by American Airlines and including British Airways, have upped their offer of investment in the struggling carrier [...]
Non-bank finance for UK firms January 12, 2010 Work to increase options for UK businesses in need of non-bank finance is the subject of a discussion document released by the Treasury today. The document seeks views on the barriers to more diverse financing for firms with the intention to introduce proposals for reform later in the year.
Website posts £35m earnings January 12, 2010 Moneysupermarket.com, the price comparison website, today confirmed that its 2009 results were in line with what was expected when it last updated in November. Adjusted earnings before interest, tax, depreciation and amortization are expected to be around £36m. The group’s financial position is strong with no debt and cash balances of £54m.
Mobile phone giants’ merger January 12, 2010 France Telecom and Deutsche Telekom yesterday officially notified European Union regulators of their plan to combine their Orange and T-Mobile brands in the UK. They agreed in September to merge, potentially creating the country’s largest operator with about 43.2 per cent of subscriptions. The OFT is considering whether to make a request to review the [...]
Cipriani expects no favours in Johnno’s elite squad plans January 12, 2010 WASPS fly-half Danny Cipriani admits it will come as no surprise if he is left in the international wilderness when England manager Martin Johnson unveils his Six Nations blueprint today. Johnson has consistently overlooked rising star Cipriani since taking charge in the summer of 2008, while the 22-year-old’s fledgling England career has also been hampered [...]
Collingwood: Back trusted KP to lead England to series win January 12, 2010 PAUL COLLINGWOOD is backing team-mate Kevin Pietersen to silence his critics and lead England to a series victory in Johannesburg. Pietersen has come under criticism for his batting form so far this series after returning from four months out with an Achilles injury. The tourists go into the fourth and final Test at the Wanderers, [...]
LOOK SCHU’S BACK IN THE HOT SEAT! January 12, 2010 LEGEND Michael Schumacher made his eagerly-awaited return to a racing car hot seat yesterday by testing a GP2 car in Spain ahead of his Formula One comeback for Merecedes. The seven-time world champion completed 52 laps at the Jerez circuit before wind and rain set in – and the German insisted he soon felt at [...]
Piquet Jr turns back on F1 January 12, 2010 FORMULA ONE: Nelson Piquet Jr, the former Renault driver at the heart of the Crashgate scandal, is set to re-launch his career in NASCAR. The Brazilian, whose deliberate crash at the 2008 Singapore Grand Prix sent shockwaves through motorsport, failed to agree a drive in F1 for next season. Piquet, who has not revealed whether [...]
