UK competition reforms get a mixed response March 15, 2012 LAWYERS yesterday welcomed the government’s proposals to reform the UK’s competition regime, but warned that new anti-cartel rules would make it easier to prosecute those involved in price fixing. Under plans launched by business minister Norman Lamb yesterday, a new UK competition authority will not be required to prove dishonesty in an individual involved in [...]
We mustn’t mourn the end of encyclopaedias March 15, 2012 AS A boy, I remember being taken to the local library and taught to use the dark, weighty volumes of the Encyclopaedia Britannica. As of now, that dates me. A “digital native”, someone to whom the modern information revolution comes naturally, is often defined as a person who has never owned a camera that needs [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 14, 2012 FINANCIAL TIMES FINANCIAL AUTHORITY URGED TO DROP OPAQUE CHARGES The new Financial Conduct Authority should use its powers to remove opaque banking charges and make it cheaper for new lenders to enter the market, a panel that represents the interests of retail customers has urged. In a paper to be published today, the Financial Services [...]
Simon Collins wins vote for KPMG chair March 12, 2012 KPMG’s new UK chairman elect Simon Collins yesterday vowed to put his firm at the centre of the debate on how to win back trust in the financial services sector, as he celebrated his election victory against two better known rivals Oliver Tant and Alan Buckle. Collins, who is currently global head of KPMG’s transactions [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 7, 2012 FINANCIAL TIMES CURRENCY TRADING VOLUMES DROP Volumes in the world’s multi-trillion dollar foreign exchange market have dropped to six-year lows as nervous investors have shied away from trading the euro and central banks have continued to maintain a tight grip on the value of their currencies. SOCGEN TO FACE REGULATOR PROBE Société Générale is to [...]
Deadline set for private holders of Greece’s debt February 26, 2012 A DEADLINE of 8 March – next Thursday – has been set for private holders of Greek debt to participate in the proposed bond swap, required to significantly cut the struggling state’s debt burden. The debt swap is a crucial part of Greece’s latest bailout, which is expected to see the Mediterranean country receive a [...]
Morgan Sindall profits slide 12 per cent but firm is hopeful about regeneration projects February 21, 2012 REGENERATION and construction firm Morgan Sindall said it was confident it could grow the business against a backdrop of tough market conditions, as the group unveiled a 12 per cent drop in profits. Profits before tax and exceptional items fell to £45.3m last year compared with £51.3m the previous year while revenues rose six per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 20, 2012 FINANCIAL TIMES PFIZER WEIGHS PLANS FOR $3BN PART-IPO Pfizer is weighing plans to raise about $3bn this year through a part-flotation of its animal health division, as the drugs giant examines the best way to spin off a business valued at as much as $18bn. The pharmaceuticals group, the world’s second largest by market capitalisation, [...]
Payment via mobile moves a step closer February 20, 2012 THE UK’s largest telecoms companies are making headway in bringing cashless payment via mobile phone to the masses, as the cluster intends to file an application with the European Commission (EC) soon. Orange and T-Mobile (under umbrella group Everything Everywhere) joined forces with Vodafone and O2 parent Telefonica last year with the aim of creating a [...]
Manchester Airport overhaul hints at interest in BAA sites February 15, 2012 MANCHESTER Airport could make a bid for one of BAA’s airports in the coming months, after its supervisors laid out a new ownership structure to allow it to expand. Manchester Airport Group is in talks with the local councils that own it, with a view to attracting a private investor to beef up its purchasing [...]