FSA approvals taking longer June 6, 2010 THE Financial Services Authority (FSA) has been criticised for the long delays in its corporate approval process, in a fresh blow to the City regulator. Companies now wait 19.5 weeks on average for an FSA decision on whether to authorise financial services work, according to figures obtained under the Freedom of Information Act by City [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
RSA CELEBRATES THREE CENTURIES OF INSURING PRIZED CITY ASSETS May 27, 2010 CITY insurer RSA certainly knows how to celebrate in style. The firm is celebrating its 300th anniversary this year – though it’s not sure of the exact day – and has been busy thinking up various gimmicks to mark the occasion. First of all, RSA roped in brewer Shepherd Neame to create a special anniversary [...]
SVB applies to FSA for bank licence May 26, 2010 SILICON Valley Bank (SVB), the US lender that backed the Twitter social networking phenomenon, has filed an application for a UK banking licence in an attempt to ramp up its operations on this side of the Atlantic. SVB yesterday handed its official application to the Financial Services Authority, a month after it emerged that the [...]
Outdoor ads to come under scrutiny of OFT May 18, 2010 THE Office of Fair Trading (OFT) will launch an investigation into outdoor advertising after players in the sector raised concerns about its fairness. The OFT will now examine whether the industry offers fair value for buyers and consumers. Heather Clayton, senior director of infrastructure at the OFT said: “The cost of all forms of advertising [...]
Scandinavia is protected from Europe’s crisis May 18, 2010 IF YOU’VE read the popular Millennium Trilogy by Swedish crime author Stieg Larsson, any clichéd idea you may have had that Sweden is some kind of socially liberal paradise will have been put to the test. If there’s any truth beneath Larsson’s fiction, it’s that, like any European country, Sweden has its fair share of [...]
Parties ponder future of banking regulation May 4, 2010 PARTNER, FOX WILLIAMS LLP CRITICISM and reform of financial regulation is a political hot topic of debate and a powerful electoral tool. With the fast approaching general election and the narrowing lead in opinion polls between the main political parties, what exactly do Labour, the Conservatives and the Liberal Democrats have in store for financial [...]
‘BIGOTGATE’ GAFFE HITS GRINNING GORDON WHERE IT HURTS MOST April 28, 2010 SPREAD betting firms always pride themselves on having a finger on the pulse, so it’s a bleak lookout for Gordon Brown if general election seat spreads yesterday were anything to go by. Brown (as even strictly cloistered Martians will know by now) yesterday committed a political gaffe of monolithic proportions, simpering to the UK’s newest [...]
Opportunities for growth in green Asia April 13, 2010 TAKE a trip around emerging Asia these days and you won’t just see skyscrapers and coal-fired power plants growing out of places where there were once nothing but fields. Wind turbines, solar energy plants, incinerator manufacturers, water treatment plants and microirrigation developments are just as likely to spring up before your eyes. There is now [...]
China is setting the stage now for a yuan revaluation this summer April 12, 2010 THERE had been speculation that the Chinese authorities would use this weekend’s Bo’ao Forum – billed as China’s Davos – to announce a revaluation of the yuan. While observers hoping for a move were disappointed, there have been signs over recent weeks that Beijing is laying the groundwork, both in the financial markets and in [...]