Bonus rules risk European exodus July 7, 2010 BANKERS warned of a talent exodus from Europe yesterday after lawmakers in Strasbourg voted to enforce the world’s toughest regime on bonuses in the wake of the financial crisis. A ruckus is brewing between institutions, who view the crackdown as a short-term populist manoeuvre, and European politicians, who argue lenders were guilty of “obscene” risk [...]
ANALYST VIEWS: HOW BADLY WILL THE EU’S BONUS CRACKDOWN HURT THE REGION? July 7, 2010 ANGELA KNIGHT | BRITISH BANKERS’ ASSOCIATION Europe is now talking in a way which is not reflected by any other of the major financial centres. The question Europe has to ask is how is it going to keep talent and business when the other major financial centres and other G20 countries are not going in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 1, 2010 FINANCIAL TIMES GENERAL ELECTRIC CHIEF VENTS FRUSTRATION OVER CHINA The GE chief executive Jeff Immelt told Italian industrialists at a dinner on Wednesday that he was worried about the way Beijing was treating foreign companies. “I am not sure that in the end they want any of us to win or any of us to [...]
Q&A: BEHIND THE BONUS NOISE July 1, 2010 Q.how long has this been brewing for? A.The European Union’s strictures on bonuses are part of a wider directive demanding higher capital requirements from banks and a new attitude to risk-taking. Work began in earnest around a year ago, and MEPs have been explicit in linking the overhaul to the events of the financial crisis [...]
Emerson wins Chloride fight as ABB retires July 1, 2010 Chloride is to start talks with Emerson Electric after rival suitor ABB pulled out in the face of an improved £997m offer from the US group. Emerson Electric raised its cash offer on Tuesday by more than a third to 375p a share, seeking to tempt the British maker of uninterruptible power supplies (UPS) away [...]
Keep it real in the Caribbean, just the place for sun, sand and security July 1, 2010 THE appeal of white sand, turquoise sea and a developed infrastructure all in one is too strong to be destroyed by an economic downturn, even this one. While prices sank by 20-25 per cent in two of the British Caribbean’s hottest spots, Barbados and St Lucia, the market has far from stalled. In fact, buyers [...]
Cotswolds classics are always in demand July 1, 2010 PICTURE the idyllic country home and the chances are you’ll conjure up some quaint, mullioned stone cottage in the Cotswolds. Far beyond a fad, the Cotswolds are home to what many consider England’s most appealing rural villages. They ooze a well-heeled ambiance but provide countryside and an equestrian community that is second to none, all [...]
It’s bargain time for Square Mile renters July 1, 2010 WITH prices still slightly down from their 2008 heights, now is the time to get into the London rental market if you or your company are looking for non-permanent living space in the capital. Traditionally, demand grows as the summer wears on and with the property market picking up, prices are only going to go [...]
Funds to be hit by bonus rules June 30, 2010 Cash bonuses to be capped at 30 per cent Hedgies and investment firms fall into EU’s net Politicians say clamp down will end risk-taking HEDGE funds and asset managers will be caught in the tough crackdown on bankers’ bonuses put forward by European Union politicians and member states last night. In the harshest measures yet [...]
Browne joins government as super-boss June 30, 2010 FORMER BP chief executive Lord Browne was confirmed as the coalition government’s “super-director” yesterday in a controversial move that puts him at the heart of Whitehall. The peer accepted the Liberal Democrats and Conservatives’ invitation to take the unpaid post of “lead non-executive director” in the Cabinet Office. He will be tasked with injecting private [...]