- 02/09/10
- There are high levels of unease and mistrust towards mainstream banking among Britain’s minority ethnic communities, causing many to turn to informal community savings, according to a report published today by race equality think tank Runnymede.
- Source: Community Newswire
- 02/09/10
- The Scottish insurance giant Standard Life will axe up to 600 jobs over the next 15 months as part of efforts to cut £100m from the company’s costs by the end of next year.
- Source: The Times
- 02/09/10
- Dick Fuld, the former chief executive of Lehman Brothers, let loose his bitterness at the US government’s failure to save his investment bank in 2008, saying that the company was “sound” even in the dying hours of the Sunday that sealed its fate.
- Source: Independent
- 02/09/10
- Britain’s public finances remain “constrained” and among the most precarious of the major advanced economies, the International Monetary Fund (IMF) warned yesterday.
- Source: Independent
- 02/09/10
- SABMiller, the drinks group, is working with other FTSE 100 companies on a system to change how the City understands “consensus estimates” for financial performance.
- Source: Financial Times
- 02/09/10
- Alistair Darling admitted on Wednesday that Britain’s controversial supertax on bankers’ bonuses had failed to change the industry’s behaviour over pay as “imaginative” financiers devised ways to avoid it.
- Source: Financial Times
- 01/09/10
- An array of rumoured flotations that were delayed during the financial crisis but tipped for revival this autumn have been shelved again on fears about the state of the capital markets.
- Source: The Guardian
- 01/09/10
- The Chancellor announced in the emergency Budget that, from April next year, benefits will no longer rise in line with the Retail Prices Index (RPI) but with the Consumer Prices Index (CPI), which grows at a slower rate. Defending the decision, which promises to leave the country’s poorest families worse off, he argued that CPI would “provide a fairer reflection of benefits claimants’ experiences”.
- Source: The Telegraph
- 01/09/10
- A survey of 11 British institutions showed that the average exposure to equities jumped more than 3 percentage points from a month earlier, while allocations to bonds fell from 25.5pc to 24.2pc. Investors buy shares when they are confident about a company’s prospects, while bonds are a more defensive asset class.
- Source: The Telegraph
- 01/09/10
- The housing market faces a “double-dip” recession this year, with falling prices and a rising tide of negative equity hitting homeowners hard. Latest data from the Bank of England shows mortgage lending is stuck at about half the level usually associated with a healthy market.
- Source: Independent