What the other papers say this morning – 12 May 2014 May 11, 2014 FINANCIAL TIMES Fraud office steps up Barclays probe Bob Diamond, John Varley and other senior members of Barclays’ former management are set to be questioned under caution by the UK’s Serious Fraud Office, in an acceleration of its probe into alleged corrupt arrangements in Qatar as part of the bank’s emergency cash call in 2008. [...]
Yellen: Low rates to stay as labour market still unsatisfactory May 7, 2014 Janet Yellen has today defended the US’s central bank’s accommodative policy, saying it still remains warranted – it’s not rushing to raise interest rates. Giving her testimony to Congress, this is Yellen’s first opportunity to speak following April’s improved jobs figures. Dismissing concerns over growth stangation in the first quarter – which, she said, were [...]
City Moves for 02 May 2014 | Who’s switching jobs May 1, 2014 Henderson The asset management firm has announced the appointment of James de Bunsen as co-manager of its value trust division. He joined in January 2013 as manager of the Henderson Multi-Manager Absolute Return fund from Armstrong Investment Managers. De Bunsen also previously spent five years at Insight Investment, where he was part of its UK retail [...]
Saga puts retail investor at heart of London float April 30, 2014 SAGA, the over-50s holidays-to-insurance provider, yesterday unveiled plans for the biggest flotation in London this year, as a stampede of silver haired savers registered to snap up shares in the listing. The business, which was founded by east end hotelier Sidney De Haan in 1950, said it would raise £550m in an initial public offering [...]
City Moves for 29 April 2014 | Who’s switching jobs April 28, 2014 Interactive Investor The execution-only stockbroker has announced the appointment of Linda Summers as chief marketing officer. She was most recently at Skype, where she was director of product and partner marketing. Prior to that, Summers held roles at O2/Telefonica and BT. GLG Partners The investment management firm has appointed Andy Li as co-manager of its [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
Want to buy a Rangers season ticket? Don’t try paying by card April 25, 2014 One football club is having some serious payment issues. Scottish team Rangers FC has been advised that allowing fans to pay for season tickets with credit or debit cards would see the club incur "considerable cost". Rangers' merchant acquirer says card payments would "require extensive security, including standard security to be granted over Ibrox Stadium [...]
The hidden costs of low interest rates are hurting the economy April 24, 2014 WE ALL know the dangers of high interest rates: borrowers end up having to fork out more, some people and companies with high amounts of debt will go bust, and the reduced disposable incomes and profits hit economic growth. But a policy of permanently low interest rates comes with its own distortions and risks. UK [...]
S&P fears Scots banks are too like Iceland’s April 23, 2014 AN INDEPENDENT Scotland would join Iceland as the only European governments which could not afford to support their banking systems, analysts at ratings agency Standard and Poor’s warned yesterday. If giant banks like Lloyds and RBS kept their legal registration in Edinburgh, the sector’s assets would amount to more than 1,000 per cent of Scotland’s [...]
How Britain can rebuild welfare with the power of individual contributions April 15, 2014 THE TWO great legacies of post-war socialism were the NHS and the Beveridge system of welfare. Designed for a different world, with a younger population and lower life expectancies, both are seen as politically untouchable, impossible or at least very difficult to reform. Periodic attempts to introduce internal market mechanisms to drive efficiency in the [...]