Japan on the same page and daily roundup

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Japan on the same page and daily roundup

We are on the same page, Japanese banker tells West
A senior Japanese policymaker has denied accusations that its central bank has done too little to battle the country’s woes, saying that it was “exactly the same” as its Western counterparts in taking aggressive action to support the economy.
The Times,  p. 37

Loosening purse strings
Three of the world’s leading central banks – the Federal Reserve, the Bank of England and the Bank of Japan – have all announced further rounds of quantitative easing recently in an attempt to boost flagging economies.
The Times,  p. 33

Merkel backs Ireland on bank deal
German Chancellor Angela Merkel and Irish Prime Minister Enda Kenny issued a joint statement yesterday reaffirming that Eurozone leaders would examine ways of improving Ireland’s bank rescue and recognising that it is a “special case”.
City AM London,  p. 4

PM urges companies to offer credit to suppliers
David Cameron will this week urge 50 of Britain’s biggest companies to throw a credit lifeline to struggling suppliers, in the latest attempt to address the shortage of affordable lending by banks.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 2

Delays loom for bank reforms in eurozone
The European Commission’s banking reforms look set to be delayed by debates in the European Parliament’s committees. Jose Manuel Barroso, Commission president, right, has planned a number of directives and regulations to “make sure that banks in the euro area stick to sound financial practices” in the wake of the eurozone crisis.
The Independent,  p. 53

Lloyds eyes bonus and incentives shake-­up to avert investor anger
Lloyds Banking Group is looking at whether to abandon the concept of annual bonuses for senior staff and extend the timeframe of longer-term incentives to up to 10 years, according to sources.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 1

Millions to switch bank accounts after rule change
YouGov research out today indicates that as many as 14m plan to change bank accounts when new Government legislation, which will enable consumers to shift banks as easily as they can between mobile phone companies, comes into force.
The Independent,  p. 53

Banks warned of need for big buffers
Britain’s banks will be forced to hold eight times bigger buffers than before the financial crisis, according to Andrew Bailey, the Financial Services Authority executive in charge of supervising banks.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 1

Fears grow of mortgage ‘ticking time bomb’
Claims management companies are switching their focus to interest-only mortgages amid fears that tougher regulation could open the doors to a future mis-selling scandal.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 3

Bank of mum and dad pays for first home, but asks for interest
A study from Yorkshire Building Society found it could take eight years to save a typical £26,000 home deposit.
The Daily Telegraph,  p. 12

Women will pay for recession when they reach retirement
The gap between the amount that men and women are saving for retirement has surged to a record high of almost £30,000, according to research, as women continue to be hit disproportionately by the downturn. Scottish Widows found that the gender gap in retirement savings has jumped by more than 10 per cent in the past 12 months. In terms of savings put aside for retirement, women are now saving an average of £776 per year less than men. The Office for National Statistics said last month that the number of people putting money into workplace pensions in the private sector fell to 2.9 million last year, from three million in 2010 and the peak of 8.1 million in 1967.
The Times,  p. 36

Also appeared in : Daily Express,  p.4, Daily Mail,  p.4, The Daily Telegraph,  p.12, The Guardian,  p.11,The Sun,  p.2

Pensions funds pushed to brink by downturn, says bailout fund
The independent pension consultant John Ralfe warns that a current 3% net return on the average fund may evaporate when interest rates inevitably increase.
The Independent,  p. 52

Protesters attack ‘cruel’ Equitable Life deadline
Campaigners will protest outside Parliament this week to highlight the plight of thousands of pensioners denied access to the Government’s £1.5 billion Equitable Life compensation scheme.
The Times,  p. 35

The above articles appeared on 22\10\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.