Bank of England appoints new finance director from Barclays October 4, 2013 The Bank of England has appointed Ralph Coates as its new finance director. Ralph succeeds Warwick Jones, who retired from the Bank in June. He'll start the job on 4 November. Charlotte Hogg, chief operating officer said: I am delighted to announce the appointment of Ralph Coates as the Bank’s new Finance Director. Ralph will [...]
Sellafield clean-up contract renewal for Amec October 4, 2013 Amec has announced the renewal of a contract for a further five years to clean up the nuclear site at Sellafield (release). That's the first renewal for Amec, with more available for a total life of 17 years. Clive White, president of Amec's European clean energy business, said that "Sellafield is one of the world's [...]
Fed’s Fisher says no-one has confidence in the government but there won’t be a default October 4, 2013 The Federal Reserve's Richard Fisher has said that uncertainty over the shutdown of the US federal government has put business in a defensive crouch, as no-one has confidence in the federal government, and that the US is a country in denial. Shutdown of several functions of the Federal government has now lasted for four days [...]
Companies to be liberated from “sensitive” names October 4, 2013 Business minister Jo Swinson has announced today that the number of 'sensitive' names business-startups need to get approval for before setting up, is to be slashed. Companies House, the UK registrar of companies, classes some words as "sensitive" and therefore cannot form or change the name of a company if it contains one of these [...]
Swiss regulator launches investigation into possible currency manipulation October 4, 2013 The Swiss financial regulator FINMA is investigating several financial firms over possible manipulation of foreign exchange rates. In a press release the agency said: FINMA is currently conducting investigations into several Swiss financial institutions in connection with possible manipulation of foreign exchange markets. FINMA is coordinating closely with authorities in other countries as multiple banks [...]
Analysts bullish on gold in wake of US government shutdown October 4, 2013 A Bloomberg survey of 30 analysts showed 18 expected gold prices to rise next week, eight expected a fall and four were neutral. The shutdown of the US federal government and political battles over the debt-ceiling are expected to drive investors towards the precious metal. After a long decline, bullion gained 7.6 per cent in [...]
Car registrations surge to highest point since 2008 October 4, 2013 September has seen a surge in car registrations with the highest monthly total since March 2008. The upswing in private sector growth has fuelled customers returning to the market after a prolonged period of withdrawal. Increased fuel efficiency has also helped to drive down running costs leaving a more attractive prospect for consumers. Success with [...]
Banks too slow to pay out compensation says regulator October 4, 2013 The Financial Conduct Authority (FCA) has concluded that banks have been too slow in paying out compensation to businesses which were mis-sold interest-rate hedging products. So far, only £2m of the £3bn which has been allocated to compensate company's, has been paid out. The FCA began investigating interest-rate swap mis-selling in May. FCA chief executive [...]
Carpetright CEO steps down as profits drop October 4, 2013 Darren Shapland, CEO of the UK's largest floorings retailer Carpetright has stepped down, and will be replaced by chairman and founder of the company Philip Harris. Shapland is standing down after 17 months in the job and initiating an overhaul of the of the company's products and digital marketing strategy. The company expects profits this [...]
US treasury says default could mean worse crisis than in 2008 October 3, 2013 The US treasury has said that a government default would be unprecedented and potentially catastrophic, and could lead to a financial crisis worse than that seen in 2008. The United States has never defaulted on its obligations, and the U. S. dollar and Treasury securities are at the center of the international financial system. A [...]
