WHAT THE OTHER PAPERS SAY THIS MORNING September 18, 2011 FINANCIAL TIMES FEARS OVER RETREAT ON VOLCKER BANK RULES The Volcker rule, which bans US banks from trading for their own account, is set to include exemptions that some officials fear will weaken its impact, people familiar with the situation have warned. In the wake of UBS’s $2.3bn (£1.4bn) loss last week, alleged to have [...]
History lives on in the City of Angels September 18, 2011 WELCOME to LA. Embrace the pain!” jokes leading man Scoot McNairy in the touching 2007 indie flick In Search Of A Midnight Kiss. McNairy’s character is a failed, lonely screenwriter trying to woo a failed, lonely actress (Sarah Simmonds) on a New Year’s Eve date. His poignant words echo around the famous Orpheum Theatre, a [...]
Time to plan your golden getaway September 18, 2011 Deserted beaches, colourful fiestas, shopping meccas, or that perfect sunset – every destination opens up a world of golden opportunities. If exploring new places is your passion, the Preferred Rewards Gold Card from American Express can make your getaway even more rewarding. With the value of gold at an all time high, the Card now [...]
Lufthansa mulling BMI sale after just two years September 11, 2011 ONE of Heathrow’s heaviest runway users, BMI British Midland, could be sold by its German owners after its losses widened. A Lufthansa spokesman told City A.M. the company was “exploring options, which could include a sale or partnership”. He added that the process is at “a very early stage”. BMI lost £54m in its first [...]
Barclays Capital notches up a new broking client September 5, 2011 BARCLAYS Capital yesterday won another brokership, continuing its strategy of expanding its UK equities business. BarCap will now be joint broker to Yule Catto, the speciality chemicals manufacturer, alongside Collins Stewart. The investment bank has been pushing its broking business in an attempt to forge relationships with big UK clients and has already won mandates [...]
Business as usual? Hardly, for anyone working in finance September 1, 2011 SINCE the financial crisis, business secretary Vince Cable has taken to the airways on a regular basis to criticise a supposed culture of business as usual in the City, suggesting that the government must get ever-tougher to counter the fact that hardly anything has changed for banks. Nothing could be further from the truth. HSBC [...]
America’s very own slice of the Caribbean, plus plenty of rum August 29, 2011 WELCOME to the United States of America,” says a groundsman as I land on the Caribbean island of Puerto Rico, introducing me to the first of many contradictions here. The island is, I find, a cocktail of the tropical Caribbean, American high rise (it is a commonwealth of the USA) all mixed with a huge [...]
£50m bill for ITV as staff live longer August 22, 2011 ITV has moved to offload the risk associated with its huge pension fund deficit in a £1.7bn deal with Credit Suisse. The complex transaction will add £50m to ITV’s pension-deficit, last valued at £312m. It has been designed so ITV can protect itself against current and former workers living longer than expected. The broadcaster has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 22, 2011 FINANCIAL TIMES LLOYDS LOOKS TO EASE DISPOSAL Lloyds Banking Group is in early talks with the City regulator about easing the capital burden for prospective buyers of some of its branches in an effort to remove one of the biggest obstacles to the sale. It hopes to pave the way for a bidder to qualify [...]
CITY MOVES | WHO’S SWITCHING JOBS August 21, 2011 Yorkshire Building Society Chris Pilling, head of branch network at HSBC Bank, has been appointed as chief executive of the UK’s second-largest building society. Pilling will join Yorkshire Building Society on 31 December, taking over from current chief executive Iain Cornish. Prior to joining HSBC as chief executive of its telephone and internet banking arm [...]