Lagarde backs ECB plan to buy Spanish bonds September 9, 2012 CHRISTINE Lagarde yesterday pledged to help the European Central Bank (ECB) in designing and monitoring its programme of bond buying, intended to help ease the pressure on indebted governments such as Italy and Spain. The International Monetary Fund (IMF) boss said those governments had taken enough action on state finances to merit more help from [...]
Financials and miners lead the FTSE 100 up September 7, 2012 The blue chip index rose in early deals this morning, following positive gains in Asia and the US as investors reacted positively to European Central Bank (ECB) plans to spend billions of euros shoring up troubled governments. Miners Evraz and Ferrexpo led the index up, by 8.51 and 7.11 per cent respectively, as the ECB’s [...]
Pressure on Barclays to reform September 6, 2012 INCOMING Barclays chairman Sir David Walker faces pressure from a committee of MPs and Lords to explain how he will clean up his bank’s damaged brand at a hearing next week, it was announced yesterday. He will be the first person to face the new Parliamentary Commission on Banking Standards (PCBS), set up to investigate [...]
City Moves | Who’s switching Jobs September 6, 2012 BNP Paribas Real Estate Mike Chadburn has been appointed senior director of international investment at the real estate division of BNP Paribas. He was previously the UK partner to Azimuth Global Partners, where he sourced and acquired UK assets for Malaysian and Korean investors. Chadburn has also previously worked as director of Central London acquisitions [...]
FTSE rallies after ECB’s bond buying plan boosts investors’ confidence September 6, 2012 MINERS and banks led the rebound on Britain’s FTSE 100 yesterday, after investors gave an initial thumbs up to ECB president Mario Draghi’s bond buying plans, while strong US data also helped lift sentiment. The FTSE 100 100 closed up 119.48 points, or 2.1 per cent, at 5777.34 as the index recovered losses sustained over [...]
FTSE 100 up on ECB meeting hopes September 6, 2012 The blue chip index was up in morning trading, as markets were dominated by speculation over European Central Bank policy action at the monthly meeting later today. The Bank of England’s Monetary Policy Committee minutes will also be released today, at 12 noon. Miners led the index up, as Lonmin was an early riser, adding [...]
Women execs in sharp rise across Europe September 5, 2012 A THIRD of all new board members at Europe’s biggest firms this year are women, new research reveals today, with women now holding almost double the number of board seats than just eight years ago. Female directors now make up 15.6 per cent of boards, up from just eight per cent in 2004, and eighty-six [...]
Top MP hits out at Barclays tax dodge claims September 5, 2012 BARCLAYS’ evidence to the Treasury Select Committee of MPs on tax avoidance measures directly contradicts that given by the chancellor, the committee’s influential chairman Andrew Tyrie declared today, demanding an explanation from the bank. HM Revenue and Customs retrospectively clamped down on the bank in February after it reduced its tax bill by roughly £300m [...]
Barclays names European retail banking boss September 5, 2012 Barclays’ new chief executive Antony Jenkins has handed the running of its Continental European retail and business banking division to Curt Hess, currently the division’s chief financial officer, the bank said today. In one of Jenkins’ first significant appointments, Hess will lead the European Retail and Business Banking (ERBB) division, covering Spain, Portugal, France and [...]
FTSE 100 opens lower on weak economic data September 5, 2012 The index fell in early trading, as investors were cautious on sluggish economic data. A contraction in US manufacturing, following a production slowdown in China, meant shares were little changed ahead of the European Central Bank’s monthly meeting tomorrow. Oil firms and miners clustered in the fallers, with natural resources group Bumi leading the pack, [...]