Government sets hard line on diversity March 7, 2010 COMPANIES may be forced to disclose the actions they take to increase the proportion of women in senior roles within their ranks, under new government proposals to be unveiled today. Ministers have called on the Financial Reporting Council to consider including a new clause in the UK corporate governance code, dedicated to improving disclosure around [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 17, 2010 FINANCIAL TIMES DISEASE SENDS SALMON PRICES LEAPING Salmon prices are jumping after the collapse of the Chilean industry through fish disease caused a sharp decline in global supply. Wholesale prices for Norwegian-produced Atlantic salmon have risen 20.6 per cent since the start of the year , says Statistics Norway. That has extended a year-long rally [...]
Greece asks for more time to discuss debts February 15, 2010 Greece faced down pressure for deeper budget cuts at yesterday’s euro zone talks and warned that last week’s support pledge by European leaders may not suffice to stop the debt market squeeze on governments in the region. Greece last Thursday became the first country in 11 years of European monetary union to require such a [...]
Accountants face new rule to cut risk January 17, 2010 THE world’s Big Four accounting firms must appoint independent non-executives to help reduce the risk of an Andersen-style collapse, under the terms of a new UK governance code published today. The Audit Firm Governance Code – which has been drawn up at the request of the Financial Reporting Council – is the first time the [...]
Economists in dispute over BoE strategy January 14, 2010 ECONOMISTS proved divided over the success of the Bank of England’s quantitative easing (QE) policy at a roundtable hosted by the Bank of England and the Centre for Economic Policy Research (CEPR). A summary of the discussion, which took place on 15 December, was released yesterday on the condition that participants were kept anonymous. It [...]
London must not be sacrificed in age of austerity January 3, 2010 As was recently reported, I am taking a hands-on approach to the Mayoralty – from basting the family Christmas Turkey down in the kitchens of Mansion House to defending the City’s interests against Nicholas Sarkozy’s plans for European domination, I am not afraid to get my hands dirty! That is why, if I were to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 17, 2009 FINANCIAL TIMES STRICKEN SCOTTISH AIRLINE’S £30M IN QUESTION Administrators of Globespan, the collapsed Scottish airline that has left thousands of passengers stranded abroad, were investigating last night why £30m of its funds were being held by E-Clear, the company that handles its credit card transactions. Bruce Cartwright, of PwC, said he understood that about half [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 14, 2009 FINANCIAL TIMES COUNCILS THREATEN ICELAND BANK ACTION Council leaders have threatened to launch legal proceedings against a failed Icelandic bank which they fear will not repay £150m in deposits made by local authorities before the credit crunch. British councils had £900m of deposits in Iceland when a trio of its banks collapsed. So far barely [...]
CHAIRMEN FACING ANNUAL ELECTION November 30, 2009 COMPANY chairmen could face annual re-election under wide-ranging new proposals on corporate governance published today. The consultation by the Financial Reporting Council (FRC), chaired by Sir Christopher Hogg, also suggested external assessments of boards’ performance every three years. The guidelines are the latest attempt to reform the Combined Code and overhaul boardroom accountability in the [...]
F&C DITCHES THE DORCHESTER FOR A LEANER SHOWING AT PING PONG November 25, 2009 THINGS may be looking up in terms of the economy, but the corporate Christmas goose is looking just as lean as it was in the depths of the financial crisis last year – and a little bird tells me that asset management firm F&C Investments is among the companies trimming its budget. Usually, F&C staffers [...]