Aldermore: Businesses are being failed by big banks May 20, 2010 ALDERMORE, the lender created from the ashes of Ruffler Bank, has warned that small and medium-sized businesses (SMEs) are being suffocated because they cannot access credit. The institution, which was reinvigorated when it was taken over by private equity group AnaCap last year, fired a broadside at the likes of Barclays and HSBC when it [...]
MAN FROM THE PRU IN SPOT OF PULP FRICTION May 20, 2010 SEASONED investors will be familiar with the mountain of paperwork that traditionally accompanies any City deal, but it does rather take the biscuit when recipients are actually forced to order waste-disposal skips in order to get the documents off their hands. Yet this, ladies and gents, is the position which stockbroker Charles Stanley finds itself, [...]
Eurozone debt fears weigh on FTSE as investors flee from risky asset classes May 20, 2010 MOUNTING fears on Eurozone debt and doubts about the global economic recovery sent investors fleeing from riskier assets, shoving Britain’s top share index 1.7 per cent lower by close yesterday. In a volatile session, the FTSE 100 ended down 84.95 points at 5,073.13, its lowest close since 5 February having fallen 2.8 per cent on [...]
Make sure you use all of your options when it comes to pensions May 20, 2010 THE long-standing debate over whether those planning for retirement should pay as much as they can into their pension or make the most of their Isa allowance has taken on more significance of late due to changes that will affect both of the savings vehicles. Pensions are changing and higher earners will probably no longer [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES GOOGLE DEBATES OVER FACE RECOGNITION TECHNOLOGY Google executives are wrestling over whether to launch controversial facial recognition technology after a barrage of criticism over its privacy policies. Eric Schmidt, chief executive, said a series of public disputes over privacy issues had caused the management team to review its procedures and the launch of [...]
Merkel declares war on the speculators May 20, 2010 GERMAN chancellor Angela Merkel declared war on speculators yesterday, just hours after she threw world markets into turmoil by announcing a ban on short selling. Merkel told the Bundestag: “This challenge is existential and we have to rise to it. The euro is in danger. If we don’t deal with this danger, the consequences for [...]
FTSE hit by German ban on shorting May 19, 2010 BRITAIN’S top shares fell steeply yesterday, as commodity-linked stocks and banks were hit by Germany’s attempt to stop speculators driving down the euro, bonds and share prices by limiting short-selling. The FTSE 100 closed down 149.26 points, or 2.8 per cent, at 5,158.08, having added 0.9 per cent on Tuesday, as Germany’s move shook markets [...]
Constrained times ahead for banks as regulators piece together Basel III May 19, 2010 SINCE the banking crisis occurred, every major regulatory authority, central bank and government has been developing ideas for improving bank regulations, with some already imposed. Meanwhile, the Basel Committee on Banking Supervision, which produced the original 1988 Basel Accord regulating capital requirements for banks and its subsequent revision, Basel II, ploughs on with a new [...]
FTSE lifted by banks and commodities as investor fears over Eurozone recede May 18, 2010 BANKS and commodity-linked stocks pushed Britain’s top share index higher yesterday, with risk appetite returning among investors as Eurozone debt fears ebbed, and Man Group recouping the previous session’s losses. The FTSE 100 ended up 44.80 points, or 0.9 per cent, at 5,307.34, but after retreating from an earlier session high of 5,341.41. “Any move [...]
European Central Bank moves swiftly to sterilise government bond buying May 17, 2010 THE European Central Bank yesterday laid out plans to sterilise its controversial government bond purchases, in a rapidly orchestrated move designed to quash fears the buy-ups will lead to a surge in inflation. The ECB also revealed €16.5bn (£14.1bn) worth of bond purchases had been settled by last Friday, giving markets their first true glimpse [...]