Banks urged to cut premium rate phone bills for customers

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Banks urged to cut premium rate phone bills for customers

Banks urged to cut premium rate phone bills for customers
Consumers are being ripped off by high rate phone charges used by their banks and credit card providers, said consumer group Which?, in a new drive to cut or end the premium rate bills.
City AM London, p. 13

If you cannot beat them, track them
In a report on pension fund strategies, Owen Walker writes that where Calpers of the US leads, others may follow.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 21

SAVINGS
Skipton Building Society is extending its e-bonds range – including a five-year fixed rate version, which has an interest rate of three per cent gross AER.
Metro London, p. 47

Pension shortfalls ‘have cost UK firms £182bn since QF
British employers have pumped £182bn into defined-benefit pension schemes since the start of quantitative easing in 2009 as they grapple with growing deficits, according to the latest figures.
The Daily Telegraph Business, p. 1

Swiss banks urged to come forward
The head of the US Justice Department’s tax division has warned that Swiss banks which do not come forward under a government-brokered programme risk prosecution over tax evasion by their US customers.
City AM London, p. 2

EBA chief focused on single market goal
Report looks at bank supervisor Andrea Enria who is facing up to the ‘severe damage’ of the eurozone crisis at the European Banking Authority.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 7

EU bank watchdog in governance plea
Andrea Enria, who chairs the European Banking Authority, has said that Europe’s ability to deal effectively with a future financial crisis risks being undermined by the “impossible” committee-led governance plaguing its banking watchdog.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

More Barclays branch closures
Ashok Vaswani, the head of retail and business banking at Barclays, has warned of branch closures and further job cuts as the bank undergoes a dramatic transformation of its cost-heavy high-street business.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 19

Rothschild to launch new hub in London
It is reported that Edmond de Rothschild is set to launch a London-based merchant banking business this week in an effort by the Franco-Swiss private banking group to turn the City into its fourth major business centre.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

UK banks in position to ride IPO wave
Midsized banks in the UK will be expected to be leading candidates for flotation next year, thanks partly to US investors’ enthusiasm to rebuild their exposure to Europe, investment bankers say.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 24

Picture starts to brighten for Belgium’s bailed out banks
Report looks at how BNP Paribas’ €3. 25bn deal to buy out the Belgian government’s 25 per cent stake in Fortis, its local subsidiary, is the latest proof that France’s biggest bank is firmly back in growth mode.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 23

Aberdeen wins battle for Swip
Aberdeen Asset Management is set to announce a £500m takeover of Scottish Widows Investment Partnership this week.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 25

Liquidity fears put regulators on the offensive
American and European regulators have expressed concerns that asset management groups are promising investors liquidity terms they cannot meet.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 1

Obscure property vehicle could carry Armageddon-style risk
In a report on real estate trusts, Ellen Kelleher writes that the high levels of leverage among mortgage Reits are causing concern.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 10

JPMORGAN reaches new settlement
The checks from JPMorgan Chase just keep on coming as the largest bank in the United States works to move beyond its mortgage-related troubles.
International New York Times, p. 16

Proposal for Bank of Italy has tax advantage
The Italian government wants Italian banks to revalue their equity stakes in Bank of Italy, the central bank.
International New York Times, p. 17

Member-owned lender is beating listed peers
There’s life in the mutual model yet. Nationwide, the biggest British lender that is owned by its members rather than shareholders, is putting its listed peers in the shade.
International New York Times, p. 17

Aberdeen wins race for SWIP
Aberdeen Asset Management has seen off a rival bid from Australian group Macquarie to secure the acquisition of Scottish Widows Investment Partnership from Lloyds Banking Group.
The Daily Telegraph Business, p. 3

Help to Buy will distort MARKET,warn bank chiefs
The country’s biggest banks have warned the Chancellor that the lack of an end date to his flagship Help to Buy programme could cause distortion in the housing market.
The Daily Telegraph Business, p. 1

Raise rates in 2014, urges leading City economist
Douglas McWilliams, chief executive of the Centre for Economics and Business Research, has claimed that the Bank of England should increase the base rate of interest as soon as February 2014.
The Independent, p. 52

EU bank bailout to cost €150bn
The European Parliament has proposed a bailout fund for the Continent’s banks that could cost over €150 billion in negotiations over over a new regulation that is meant to end bank bailouts.
The Times, p. 16

Scottish Widows ready for Aberdeen
Aberdeen Asset Management was putting the finishing touches last night to an agreed near £600 million offer for Scottish Widows Investment Partnership, reports The Times.
The Times, p. 45

‘Lazy’ scattergun design creates fad funds
In a report on innovation in the asset management industry, Chris Flood writes that managers are fixated on finding blockbusters, at the expense of clients’ needs.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 11

The above articles appeared on 18/11/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.