Mark Carney: Banks will have to increase financial buffer to end “too big to fail”, but it’s going to cost them November 10, 2014 Banks will no longer be “too big to fail” if new rules aimed at ensuring banks have enough capital behind them in the event of another financial crisis drawn up by Mark Carney are approved. New proposals put together by the Financial Stability Board, led by Bank of England governor Carney, will curb the need for [...]
New Sainsbury’s boss Mike Coupe is on the right road by clamping down on this spending – Bottom Line November 10, 2014 It takes one to know one – and thus I can confidently declare that ex-Sainsbury’s boss Justin King is a contrarian. As the kind of fool who has a tenner on Arsenal to win this season’s Champions League, I am instantly able to recognise the delight he must feel by saying things like “there’s nothing [...]
Mark Carney plans more capital rules for banks to end taxpayer bailouts November 10, 2014 Global banks face more capital fine tuning as Mark Carney leads the drive to end taxpayer bailouts over the coming weeks and months. The Bank of England governor has been re-appointed as the head of the Financial Stability Board (FSB) – a group of global regulators – and is expected to propose more fine-tuning of [...]
George Osborne accused of “spin” and “smoke and mirrors” after claims of halving £1.7bn EU bill November 8, 2014 George Osborne heralded successful negotiations to halve the £1.7bn bill demanded by the European Union as a “result for Britain” yesterday, however his claims have been criticised as “spin” and “smoke and mirrors” by rival political parties. The EU had set a deadline of 1 December for the UK to pay up. This has now [...]
“Result for Britain”: UK’s £1.7bn EU bill halved and payment deferred, says chancellor George Osborne November 7, 2014 George Osborne has negotiated to halve the £1.7bn bill being demanded by the European Union, adding that the rules are to be changed so “this never happens again”. The chancellor had travelled to Brussels to get the surcharge, which was calculated by statistical authority Eurostat, dropped. The government had spoken out against the [...]
George Osborne heads to Brussels to argue against £1.7bn EU bill November 6, 2014 George Osborne is today expected to argue that the UK will not accept an instalment deal to pay the £1.7bn bill Brussels has demanded in full over the course of 2015, after a spokesman for the Prime Minister said that this would be “unacceptable”. The chancellor has been sent to negotiate a reduction in the [...]
Euro falls to two-year low on disappointing ECB speech November 6, 2014 The euro fell to its lowest level against the dollar in two years today after much-anticipated comments by European Central Bank (ECB) chief Mario Draghi disappointed markets. The currency dipped below $1.24 and fell to £1.27, before rallying slightly. Although European stocks spiked immediately after the speech, Germany's Dax closed down 0.92 per cent, while [...]
Facebook’s Mark Zuckerberg is hosting a Q&A tonight and will answer questions from the public November 6, 2014 Famously private tech top dog Mark Zuckerberg is opening up to the public for the first time in a question and answer session online. The Facebook founder, and more recently Chinese language student, is taking an hour out of his busy schedule to field questions from, basically, anyone who asks. Much like Reddit’s famous AMAs [...]
Obama dealt blow by Republican victory November 5, 2014 BARACK Obama was dealt a significant blow yesterday when the Republican Party won control of the Senate in the US mid-term elections, increasing their power in the final two years of his presidency. The Republicans also increased their grip on the House of Representatives and now control both chambers of Congress for the first time [...]
M&S boss Marc Bolland puts the focus on womenswear and a five gold rings chocolate Christmas cake November 5, 2014 Everyone knows Marc Bolland is a bit of a charmer. The M&S chief has been under pressure all year with disappointing clothes sales and a finance chief who decided every little really did help and hopped over to Tesco. But yesterday, at the retailer’s half-year results event, the suave Dutchman came out fighting, with compliments. [...]
