Fujitsu invests £800m in UK

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Fujitsu invests £800m in UK

Fujitsu invests £800m in UK
Fujitsu has injected £800m of investment into its UK arm to help cut the deficit across three of its defined-benefit pension schemes.
City AM London, p. 10

Minister fails to rule out second home subsidies for wealthy
A senior Treasury cabinet minister has refused to rule out allowing rich people to use new state subsidised mortgages to buy second homes.
The Daily Telegraph, p. 15

Cyprus close to 11th-hour deal in Eurogroup bailout talks
The Cypriot economy looked set to be pulled back from the brink in an deal with the EU which could see investors with more than €100,000 in the nation’s largest banks forfeit a large chunk of their deposits.
The Independent, p. 2
Also appeared in : The Independent, p.2, The Daily Telegraph Business, p.1, The Times, p.38, Daily Mirror, p.2, The Guardian, p.28, The Guardian, p.22-23, Metro London, p.17, The Daily Telegraph Business, p.2, The Guardian, p.1, City AM London, p.3, International Herald Tribune, p.18, International Herald Tribune, p.14, The Daily Telegraph Business, p.3, Financial Times, p.7, International Herald Tribune, p.1, City AM London, p.2, Financial Times Companies and Markets, p.28, The Daily Telegraph Business, p.7, City AM London, p.2, City AM London, p.2, The Daily Telegraph, p.1-2, City AM London, p.2, Daily Mail, p.2, International Herald Tribune, p.18, The Guardian, p.1, Daily Mail, p.14, The Daily Telegraph Business, p.3, Daily Mirror, p.2, Independent i, p.6, International Herald Tribune, p.17, Independent i, p.6, Financial Times, p.11, Financial Times, p.1, Daily Mail, p.2, Daily Star, p.2, International Herald Tribune, p.14, Financial Times, p.1, Financial Times, p.1, Financial Times, p.7, Financial Times, p.7, Financial Times, p.11, The Daily Telegraph, p.26, International Herald Tribune, p.1, Financial Times, p.7

‘More than 20’ Lloyds staff paid £1m each
Lloyds Banking Group has refused to confirm a report that more than twenty of its staff were each paid £1m or more last year. The study examined the reported profits of HSBC, Barclays, Lloyds, Royal Bank of Scotland and Standard Chartered. It found that the near-£20bn hit to profits included the cost of setting aside compensation for the mis-selling of payment protection insurance, which has risen to £7.4bn, from £5.7bn in 2011.
The Times, p. 42
Also appeared in : The Sun, p.4, Metro London, p.53, Daily Mail, p.61

Osborne’s Aim lifelines may not be a help to UK small firms
Someone at the London Stock Exchange’s Alternative Investment Market must have been owed a favour by the Chancellor, writes David Prosser. George Osborne threw Aim, the junior market for smaller companies, two separate lifelines in his Budget: the abolition of stamp duty on all Aim transactions, and confirmation that Aim-listed stocks will almost certainly become eligible for inclusion in tax-free individual savings accounts (Isas) from next April onwards.
The Independent, p. 58
Also appeared in : Independent i, p.43, Financial Times Companies and Markets, p.22

Bonus cap for managers takes step closer
The European parliament’s economic and monetary affairs committee voted last Thursday to crack down on fund managers’ bonuses.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 11

EU pay cap a concern for US funds
EU proposals to cap the bonuses of senior executives of houses running Ucits funds could lead to a retreat from Europe by US asset managers.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 1

Senate report increases pressure on Dimon
The chairman and chief executive of JP Morgan, Jamie Dimon is under pressure after a Senate report accused the bank of misleading investors over its “London Whale” losses.
The Daily Telegraph Business, p. 4

Chinese official urges reduction in state control
A member of the top Chinese decisionmaking body called Sunday for sweeping economic changes, including a reduction in state control, as China’s economy struggled with surplus production capacity and risks to the financial system.
International Herald Tribune, p. 14

Barclays chiefs on tenterhooks over Ziggo price
Senior executives at Barclays, including chief executive Antony Jenkins, are reportedly expected to be monitoring the share price of Ziggo carefully after the bank inadvertently became a 14.2 per cent shareholder last week in the Dutch telecoms group.
City AM London, p. 4

Year of fines hide banks’ core profits
Underlying profits across the banking sector were wiped out by an unprecedented year of accounting adjustments and fines, figures showed this morning.
City AM London, p. 9

FSA to outline proposals for new banks
The FSA is announce proposals that will enable new banks to challenge established high street firms, as one of its final acts before being disbanded.
The Guardian, p. 21

Appetite grows for overseas acquisitions
Chinese banks are set to embark on a fresh wave of overseas acquisitions this year as they look to expand in emerging markets where their industrial peers are already active.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

Fines and PPI costs take shine off bank profits
British banks recorded a strong rise in profits last year, it has been disclosed, only to be hit by a mixture of regulatory fines and costs associated with Payment Protection Insurance.
The Daily Telegraph Business, p. 4

Economic tailwinds lift China lenders
A recovery in economic growth has allowed banks in China to outrun the approaching shadow of bad loans.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

London retains place as world’s leading financial centre
London remains at the top of the league of global financial centres but overseas hubs are closing the gap, according to a survey by Z/Yen.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 4

Search on for new head of Big Society millions
The search for a successor to Sir Ronald Cohen at the David Cameron backed social investment bank got under way over the weekend.
The Independent, p. 56

Crunch time for credit card insurer
CPP, the troubled credit card insurer, is facing a battle for survival this week as it seeks to raise more than £40mn to avoid falling into administration.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

Watchdog to close loophole over use of pricey credit protection
The Basel Committee on Banking Supervision have announced their first big crackdown on regulatory arbitrage since Basel III.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

ICELAND ISSUES INDICTMENTS FOR STOCK FRAUD IN BANKING CRASH
Iceland has indicted 15 people, including the former chief executives of two banks, for manipulating share prices in the run-up to the banking system’s collapse in 2008.
International Herald Tribune, p. 17

Now is the time to open banking to new entrants
Anthony Thomson, founder of Metro Bank, discusses the introduction of more competition into UK retail banking.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 11

The above articles appeared on 25/03/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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