HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
A sport with more lure than Wii May 9, 2010 THE REEL screamed as a trout grabbed my seven-year-old son’s lure. Jake gasped with delight – then made a grab for the reel as the fish leapt out of the water. “Don’t touch the reel,” I yelled, fearful of a snapped line. “Let the fish take the line – then you can reel it in [...]
Markets fear Greek disaster May 5, 2010 FEARS Greece’s debt crisis could spread to other countries continued to hit markets yesterday fuelled by a threat by Moody’s rating agency that it may downgrade Portugal. The FTSE 100 crashed 1.3 per cent, while the euro plummeted to $1.2801 – its weakest level against the dollar since March 2009. The cost of insuring Spanish [...]
UK should brace itself for austerity May 5, 2010 RESEARCH DIRECTOR, FOREX.COM OVER the next few months the British electorate will wake up to the reality of what it means to live in a country with a budget deficit of £163bn. The bleak truth is that few will be immune to the tax hikes and spending cuts that will inevitably hit over the next [...]
Be wary of London becoming uncompetitive March 28, 2010 As a representative of the UK financial and professional services industries, overseas visits are a key part of my job, not only to encourage foreign firms to invest in UK plc but also to help our global partners create environments in which UK-based firms are willing and able to invest and prosper. Last week I [...]
The comeback cad trying his luck in the Med March 2, 2010 JAMES Hewitt – former lover of Princess Diana, ex-solider, comeback cad – throws his head back and laughs at what I have just said. “Yes, I suppose this is like Rick’s in Casablanca,” he says when he recovers. “And everyone comes to Rick’s.” We are having dinner in a corner of Polo House, his bar [...]
UK is facing chaos while Asia booms March 1, 2010 WHETHER or not Prudential is overpaying for AIG’s Asian operations remains to be seen. Shareholders, spooked by the prospect of Britain’s biggest-ever rights issue, sent the Pru’s share price tumbling yesterday. But what is not in doubt is just how important Asia is becoming to Britain’s most successful and ambitious companies – and just how [...]
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 [...]
Golden years of retirement turning sour February 10, 2010 FOUR out of ten “baby boomers” are approaching retirement without setting aside any money each month, a report showed yesterday. Research compiled by insurer Aviva found that people aged between 55 to 64 are laden with debt and have scant resources to fund themselves after stepping down from work. Individuals in the age bracket – [...]
Top lady shot takes the helm at a new City member’s club October 11, 2009 CLAIRE Zambuni could be dangerous. A leggy blonde with Baywatch-style features and a big smile, I’d not be surprised to hear that men routinely fall at her feet. But its her way with a gun that makes her particularly worth buttering up – she’s the UK’s best lady shot, in the top three best shots [...]