City Moves for 08 April 2014 | Who’s switching jobs April 7, 2014 Barclays The bank has announced the appointment of Karl Trumper as head of trade and working capital for the UK. He joined in 2002, and was most recently head of sales for larger business. Towers Watson Tammy Richardson has been appointed UK head of insurance management consultancy at the professional services company. She joined in [...]
Watchdog boss accepts blame for insurance mess March 31, 2014 CITY watchdog chief exec Martin Wheatley yesterday said he accepts responsibility for the sloppy announcement of a new insurance investigation last week. The Financial Conduct Authority is looking into the fees and charges faced by savers with insurance policies dating back to the 1970s. And when this was inadvertently released through a newspaper on Friday, [...]
Watchdog under pressure after insurance firm fiasco March 31, 2014 THE CITY watchdog will come under renewed pressure from insurers today demanding urgent action from George Osborne to prevent a repeat of the regulator’s mis-step that led insurance shares to plunge on Friday. The industry will write to the chancellor to raise “serious concerns” about the disclosure of information by the Financial Conduct Authority (FCA) [...]
Bottom Line: Time to stop throwing good money after bad March 24, 2014 WHEN stressed out, at-odds parents are involved in a heated dispute of their own, the last thing they need is their naughtiest child barging in and asking for cash. But that’s what happened to the Co-op Group yesterday, when its flailing bank subsidiary came knocking for another £120m to prop up its losses – on [...]
What the other papers say this morning – 24 March 2014 March 24, 2014 FINANCIAL TIMES Heseltine takes control of Haymarket Michael Heseltine has taken full control of Haymarket, the publishing group he co-founded 50 years ago, as it restructures to move its flagship consumer titles online and expand internationally. The 81-year-old former Conservative politician is betting on a recovery in the fortunes of Haymarket, which made a pre-tax [...]
Budget 2014 showed promise: But it lacked beef for entrepreneurs to really get their teeth into March 23, 2014 YOU CAN’T please all of the people all of the time, particularly if you’re the chancellor of the Exchequer. Even if George Osborne had promised last Wednesday to personally traipse the length and breadth of the country handing out free candyfloss, an obesity pressure group of some sort would have released a statement condemning him. [...]
Annuity market to collapse by £8bn because of rule switch March 20, 2014 SAVERS fleeing the pension annuity market will cause it to collapse by two-thirds over the next 18 months, analysts predict, as the fallout from the Budget continued to hit markets. Barclays analysts said the annuity market could shrink from £12bn a year to just £4bn by September 2015, due to changes announced in the Budget, [...]
Just-Eat curries investor favour for £900m float March 17, 2014 JUST-EAT beefed up its boardroom yesterday with senior hires from BSkyB and Hammerson ahead of a float next month, adding to the swelling ranks of firms looking to list in London. The 13-year-old business, which was founded in Denmark by entrepreneur Jesper Buch, said BSkyB chief financial officer Andrew Griffith would join the firm as [...]
Wishes and predictions for Osborne’s budget March 17, 2014 ■ EY suggests there is little room for the chancellor to make big changes, given the spending constraints he has set for the Treasury, and that the OBR’s adjustments will be small. ■ However, the big four accounting firm expects George Osborne to make a move on the top rate of stamp duty, raising the [...]
Sixteen lenders accused of Libor manipulation March 17, 2014 SOME of the biggest banks across the UK, US and Europe are being sued by the Federal Deposit Insurance Corporation (FDIC) in the US over claims their traders manipulated Libor interest rates. The regulator is launching legal action against 16 banks, including HSBC, Barclays, RBS, JP Morgan and Deutsche Bank. The British Bankers’ Association (BBA) [...]