Small building societies want just local savers


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Small building societies want just local savers

Small building societies want just local savers
Smaller building societies are barring customers who aren’t local. Swansea and the Northern Ireland based Progressive building societies are the latest to restrict new accounts to customers living near their branches.
Daily Mail, p. 40

Former MPC rate-setter Posen in attack on ‘autocratic’ Sir Mervyn
Former Bank of England rate-setter Adam Posen hit out at the autocratic style of Sir Mervyn King yesterday in an outspoken attack on Threadneedle Street’s deferential culture.
The Independent, p. 45
Also appeared in : City AM London, p.8, The Times, p.31, The Sun, p.6, The Daily Telegraph Business, p.4, The Independent, p.47, Independent i, p.41

… as King focuses on battle with inflation
Sir Mervyn King has suggested that the Bank of England might be prepared to tolerate more inflation in the short run to save jobs, as he called for a review of British monetary policy.
The Times, p. 31
Also appeared in : The Independent, p.2, The Daily Telegraph Business, p.1, The Guardian, p.5,Financial Times, p.1, City AM London, p.1, Independent i, p.4

Hundreds of Barclays’ bankers jobs at risk
Hundreds of investment bankers at Barclays in London were at risk of losing their jobs last night, after Antony Jenkins, the bank’s chief executive, unveiled plans for a new look banking business within weeks.
The Times, p. 34
Also appeared in : The Sun, p.36-37, The Daily Telegraph Business, p.3, City AM London, p.2, Metro London, p.39, Financial Times Companies and Markets, p.17

Schroders worker arrested in insider dealing inquiry
A trader at Schroders was among five people arrested yesterday as the Financial Services Authority stepped up its latest investigation into insider trading.
The Times, p. 34
Also appeared in : City AM London, p.6, International Herald Tribune, p.21, The Daily Telegraph Business, p.3

Threat of ratings downgrade grows as national debt soars ever higher
According to the Office for National Statistics, the national debt has nearly doubled since the collapse of Lehman Brothers brought the global financial system to its knees more than five years ago, raising fears that Britain could lose its prized AAA credit rating.
The Times, p. 37
Also appeared in : The Guardian, p.20, The Daily Telegraph Business, p.1

From gangsters to banksters: Wall Street braces for a tough new cop on the block
A tough prosecutor with a record of busting terrorists and mobsters in New York could soon be in charge of overseeing Wall Street. Mary Jo White, the ex-United States Attorney for the Southern District of New York, is being tipped as President Obama’s likely nominee to head the Securities and Exchange Commission, the US market regulator.
The Independent, p. 44-45
Also appeared in : Independent i, p.41

Bank loses £185m
The world’s oldest bank, Italy’s Banca Monte dei Paschi di Siena, pictured, will book a loss of at least €220m (£185m) from a derivatives deal with Nomura, according to Italian media reports.
The Daily Telegraph Business, p. 8

Deutsche Bank settles power market allegations
A unit of Germany’s Deutsche Bank agreed to pay a civil penalty of $1.5m to settle allegations by federal energy regulators of power market manipulation in California, according to an order on Tuesday.
The Daily Telegraph Business, p. 4

Europe hands Britain a generous tax break
EU finance ministers have approved a financial transactions tax, paving the way for the levy to be imposed in 11 eurozone countries next January.
The Times, p. 33

Be prepared …
Investors in emerging markets need to be prepared for the risk of a sudden reversal in capital flows if Western central banks start to tighten their superloose monetary policy, according to the Institute of International Finance.
The Times, p. 38

Japan sets inflation target and sets off alarm bells in the West
Japan’s central bank has bowed to intense political pressure from Shinzo Abe, the new Japanese Prime Minister, and adopted an official inflation target of 2 per cent in a controversial attempt to end two decades of deflation and revive a recession-prone economy.
The Times, p. 37

EU opens door to Tobin tax bloc in eurozone
11 Eurozone countries have won an EU blessing to impose a coordinated levy on financial transactions.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 8

The above articles appeared on 23/01/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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