A more rewarding way to travel April 12, 2012 Never has everyday spending had the potential to take you so far. Virtually every time you use the Card, you’ll earn Membership Rewards® points which can be redeemed for flights, hotel stays, car hire, gift experiences and lots more. When it comes to earning rewards, American Express makes it easy to build up points fast. [...]
Royal Bank of Canada hit by CFTC’s futures lawsuit April 2, 2012 THE US futures regulator yesterday accused the Royal Bank of Canada of running a “massive” multi-hundred-million-dollar trading scheme to gain lucrative Canadian tax benefits. The Commodity Futures Trading Commission’s civil lawsuit alleges that a small group of senior RBC employees created and managed a “wash trading” strategy in which they improperly coordinated to allow subsidiaries of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 1, 2012 FINANCIAL TIMES BSkyB begins board overhaul Two key independent directors at BSkyB are set to leave as the pay-TV company embarks on an overhaul of its board that could weaken its unanimous backing of James Murdoch as chairman. Dame Gail Rebuck, chief executive of Random House, the publisher, and Lord Wilson of Dinton, former cabinet [...]
Advice for budding businesses April 1, 2012 ACCOUNTING ACCOUNTING is an unloved but essential discipline for entrepreneurs. Businesses that fail to keep the financial score are flying blind. Record and track your results to monitor your financial status. Measure sales, costs and working capital. Identify the key performance indicators (KPIs) that will keep your business on track, including orders, sales and gross [...]
CITY MOVES | WHO’S SWITCHING JOBS March 27, 2012 JLT Pension Capital Strategies The specialists in corporate consulting and pension scheme de-risking have appointed Martyn Phillips to the new role of head of buyout consulting, with effect from 2 April. Phillips will assume responsibility for buyout and settlement activity across the company. Prior to joining, Phillips was a senior consultant at Lane Clark & [...]
Oil stocks lead the FTSE 100 lower despite good gains in bank shares March 27, 2012 HEAVYWEIGHT oil stocks dragged Britain’s top shares lower yesterday, reversing earlier gains that had been driven by strength in banks and miners, as investors proved loath to push the blue-chip index back up to 2012 highs. The FTSE 100 index closed down 33.15 points, or 0.6 per cent, at 5,869.55, near session lows having swung [...]
Bank seeks new powers over lending March 25, 2012 NEW regulations cannot absolutely prevent the possibility of another financial crisis or of banks failing, a Bank of England policy maker announced just days after the Bank had pushed for stronger powers over the industry. The culture within banks, as well as changes to the structure of incentives, will be the most important changes, financial [...]
CITY MOVES | WHO’S SWITCHING JOBS March 25, 2012 Coutts Jennifer Mathias has been appointed chief financial officer of the wealth division of the Royal Bank of Scotland, with immediate effect. Mathias joins from Lloyds Banking Group, where she was finance director of the corporate banking division. She will report to Fiona Davis, finance director for retail and wealth within the Royal Bank of [...]
What was in Osborne’s red box: our quick summary March 22, 2012 THE ECONOMY/PUBLIC FINANCES The Office for Budget Responsibility (OBR) forecasts that UK GDP will grow by around 0.8 per cent this year, the same rate as in 2011, up from its earlier forecast of 0.7 per cent. The beneficial effects of falling inflation are expected to be offset by uncertainty over the Eurozone and tighter [...]
Lloyds Bank raises £170m March 21, 2012 LLOYDS Banking Group has raised £170m through a new share issue as it looks to keep debtholders on its side. The money will be used to restart dividend payments on certain bonds, a practice that was suspended by the European Commission following the taxpayer bailout of the bank during the 2008 financial crisis. Lloyds, which [...]