Changes to insurance regime could mean a PII revolution February 22, 2011 SOLICITORS are dealing with a number of challenges that threaten the futures of many within the legal profession. The recession has affected everyone and solicitors are no exception. Corporate lawyers aren’t seeing the deals that used to see them working into the early hours of the morning and the property lawyers have seen their conveyancing [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 17, 2011 FINANCIAL TIMES BALLS WARNS KING ON BANK CREDIBILITY Ed Balls, shadow chancellor, has criticised Mervyn King, Bank of England governor, saying he should step out of the political arena and stop tying his credibility to the coalition’s “extreme” deficit-reduction plans. In an interview with the Financial Times, Balls drew comparisons between King’s stance and the [...]
CITY MOVES | WHO’S SWITCHING JOBS February 6, 2011 Pinsent Masons The law firm has appointed Barry Vitou (pictured) to its dispute resolution team. He joins the firm from the London office of US firm Winston & Strawn, where he headed its regulatory and tech practice. He will be working with Danvers Baillieu, a senior associate advising on online and tech business issues. Vitou [...]
What the other papers say this morning February 3, 2011 FINANCIAL TIMES MADEJSKI IN TALKS TO RESTRUCTURE GROUP DEBT Sir John Madejski, the owner of Reading Football Club, is in talks to restructure a loan that backed the expansion of his property empire after the crash in regional property values led to a breach in the covenants of the debt. The wealthy former media magnate’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 27, 2011 FINANCIAL TIMES POLICE TARGET “HACKTIVISTS” An online “hacktivist” group that brought down the websites of perceived opponents of WikiLeaks has itself become the target of an international police crackdown. The London Metropolitan Police arrested five men in connection with a recent spate of attacks by Anonymous, behind last month’s revenge assault on the websites of [...]
Regulators to share audit details January 17, 2011 Two City regulators have signed an agreement to share confidential information about UK auditors. The Financial Services Authority and the Financial Reporting Council yesterday agreed to allow greater exchange of information about auditors and their reports on UK companies. The regulators are heightening their oversight of audits following the financial crisis. FSA accounting and auditing [...]
London is still at forefront of business world January 16, 2011 THERE is no doubt in my mind that despite the uncertainty surrounding taxation and regulation and despite the continuing public anger, unfavourable media reports and a degree of political point-scoring, the City of London remains – in the eyes of the international business community at least – one of the most attractive financial centres in [...]
EU plans package to confront debt crisis January 12, 2011 THE Eurozone is preparing a “comprehensive” package to confront its sovereign debt crisis, as Spain prepares for today’s first crucial bond sale of 2011, a year in which it must refinance a quarter of its debt. European Commission president Jose Manuel Borroso called for Eurozone leaders to beef up the region’s rescue facility yesterday, with increased [...]
Greater disclosure of risk needed, says governance body January 6, 2011 DIRECTORS should be clearer about the risks facing their business in annual reports, the UK’s governance watchdog said today. Statements from chairmen and chief executives should be balanced and discuss the biggest risks to the business in more detail, according to new recommendations from the Financial Reporting Council (FRC). Audit committee reports should also disclose [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]