FERC: The US energy regulator issues its biggest ever fine November 1, 2012 The Federal Energy Regulation Commission (FERC) monitors the electricity, gas and oil markets in the US, with a particular focus on the wholesale side. That means it regulates sales, reviews merger and acquisition activity in the sector, and monitors market and trading activity – the final point covering the accusations levelled at Barclays. FERC was [...]
DMGT looks ahead as it cuts ties with JP Morgan Caz November 1, 2012 CORPORATE broking relation-ships in the City tend to be pretty sticky, which is one reason bankers tell me that Barclays is so far hanging on to many of its newly-won clients even though the ultimate force behind its move into this line of business, former chief executive Bob Diamond, is very much no longer with [...]
The Square Mile comes out in force for London’s Poppy Day November 1, 2012 WITH Poppy Day fundraising events happening all over London yesterday, from Covent Garden to Clarence House, the Square Mile certainly did not let the capital down. The Military Wives Choir were serenading the masses on the steps of St Paul’s Cathedral; and over in Leadenhall market HMS Collingwood Band were striking a chord with City [...]
Who’s switching jobs November 1, 2012 Baird Jim Conniff has been appointed managing director in the investment bank’s industrial team. He joins from Goldman Sachs, where he was a senior member of its industrial banking team. Conniff was previously a director at Baird. Baker Tilly David Whitlock has been appointed business development director at the accountancy and advisory firm. He was [...]
Strong corporate results cause the sharpest FTSE jump for four weeks November 1, 2012 B RITAIN’S blue-chip index made its biggest single session gain in four weeks yesterday as a number of firms posted solid results and investors took on fresh bets at the start of a new month. The FTSE 100 index closed up 79.22 points at 5,861.92, a rise of 1.4 per cent, the biggest gain since [...]
FTSE 100 up on earnings boost November 1, 2012 The leading share index was higher in early deals this morning, buoyed by upmarket manufacturing data from China and blue chip earnings. Lloyds Banking Group, Royal Dutch Shell, BT Group, BSkyB and Legal & General all flattered the FTSE 100 in early trading. On the FTSE All-Share, credit card insurer CPP Group continued its rise [...]
Barclays facing $435m in fines from US action October 31, 2012 BARCLAYS was last night hit by two US regulatory investigations, one of which could leave it facing a fine of $435m (£269.7m). The news emerged on the same day the bank said it had lost money in the third quarter as PPI claims rose and credit charges grew. Barclays said the US Department of Justice [...]
MPs told a full split may push banks from UK October 31, 2012 BANKS could leave the UK if they are forced to fully split their retail and investment arms entirely, former Barclays chief Martin Taylor told MPs and peers yesterday. The member of the Independent Banking Commission, which recommended the two parts of banks be ringfenced, was giving evidence to the Parliamentary Commission on Banking Standards. “Had [...]
Bank’s Paul Tucker stumbles upon a Barclays bonus truce October 31, 2012 IT has become the City’s most wearyingly familiar formula: bank floats pay proposals with investors; investors cry foul; bank showers its largesse on employees regardless; bank suffers revolt at annual meeting. Repeat, year after year. The 2013 bonus round should, at last, provide an antidote to the toxic relationship between Britain’s biggest lenders and the [...]
2012’s seven best Women in the City October 31, 2012 THE Museum of London Docklands was the venue for this year’s Woman of Achievement Awards, where ladies from around the City gathered in Canary Wharf to find out who had been chosen as one of the seven winners. In no particular order they included Heather Dixon at American Express for accountancy, Accenture’s Emma McGuigan for [...]