Europe’s banks told they have €280bn hole December 2, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
Europe’s banks told they have €280bn hole November 28, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
Two charged as British FBI probe match fixing claims November 28, 2013 TWO men were charged with conspiracy to defraud and remanded in custody last night in connection with a high-level investigation into alleged match-fixing in English football. Singaporean Chann Sankaran, 33, and Krishna Sanjey Ganeshan, 43, who has dual British and Singaporean nationality, are due to appear before magistrates in Cannock, Staffordshire, today. Five more men [...]
Coalition caps payday lenders November 25, 2013 CHANCELLOR George Osborne announced a surprise cap on payday loan costs yesterday, turning the government’s previous policy towards the short-term lending firms on its head. In the face of growing pressure from both the Labour party and an influential group of peers including the Archbishop of Canterbury Justin Welby, Osborne now plans to amend the [...]
We must help those in financial crisis – but loan caps won’t work November 25, 2013 SOMETIMES I really do wonder who is in power in this country. Is it a Tory-Lib Dem coalition, dedicated to ensuring the UK is open to business, or is it the Labour party? Whenever the opposition starts to campaign on an issue, especially one with cost of living or emotional undertones, the coalition eventually caves [...]
Barclays to pay monthly top up to account for EU’s bonus cap November 25, 2013 HUNDREDS of Barclays’ highest paid staff are in line for extra payments to top up their salaries and replace the income lost by the EU’s incoming bonus cap, the bank has told workers. The level of the monthly payment, known as Role Based Pay according to an email to staff seen by City A.M., will [...]
RBS referred to City watchdog by Vince Cable November 24, 2013 TAXPAYER-backed bank RBS has been referred to the Financial Conduct Authority (FCA) by the business secretary Vince Cable over claims in a report out today from Lawrence Tomlinson, enterprise adviser to the Department for Business. Tomlinson claims RBS has forced good businesses into difficulties purely to strip their assets and gain more profit for the [...]
TSB draws up prospectus ahead of 2014 stock market flotation November 24, 2013 LLOYDS’ spin-off TSB bank has drawn up the first drafts of its prospectus to investors ahead of its initial public offering, as it prepares to float on the stock market next year. The lender was established as a standalone entity in September and says it has benefitted from the seven day switching scheme which allows [...]