Soldiers to pay more tax in pension reform

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Soldiers to pay more tax in pension reform

Soldiers to pay more tax in pension reform
Almost 200,000 members of the Armed Forces will have to pay hundreds of pounds more in tax under the Government’s pension reforms, figures have disclosed.
The Daily Telegraph, p. 14

Santander considers UK takeover
Santander the Spanish bank is considering a £2bn takeover bid for Clydesdale and Yorkshire banks. Santander UK is already Britain’s fifth-biggest bank with 25m customers after taking over Abbey, Alliance & Leicester, and Bradford & Bingley.
The Daily Telegraph Business, p. 3
Also appeared in : The Independent, p.48

‘Defunct’ computer threatens to draw red line through Co-op bank profits
Annual profits at The Co-operative Bank could be wiped out this year because of a writedown of £200 million on an IT system that will become defunct if the mutual completes its acquisition of 632 branches from Lloyds Banking Group.
The Times, p. 35
Also appeared in : The Times, p.34, The Times, p.31

Top executive suppressed report damning Barclays
Barclays was hit by further damaging revelations about the culture that was allowed to flourish in certain parts of the bank yesterday after it emerged that a senior executive had suppressed a damaging report into Barclays Wealth in America.
The Independent, p. 47

Barclays Wealth division but of control’, says secret report
Barclays has parted company with Andrew Tinney, chief operating officer after investigators alleged that he shredded a highly critical analysis of the maverick culture and bullying at the bank’s Barclays Wealth business.
The Daily Telegraph Business, p. 3

Lloyds pledge to small businesses
Lloyds Banking Group is renewing its pledge to help 100,000 new enterprises get off the ground this year.
The Daily Telegraph Business, p. 5

Lloyds boss should take a bonus break
A storm is brewing over at Lloyds Banking Group over the bonus for its chief executive, António Horta-Osório.
International Herald Tribune, p. 22

UK banks boost corporate broking
Barclays and HSBC have hired senior bankers in recent months to expand their UK corporate broking businesses.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 19

Graduates shun banking jobs
Britain’s banking sector is struggling to hire talented staff in the wake of loss of reputation caused by the economic crisis and recent scandals.
The Daily Telegraph Business, p. 3

Goldman Sachs launches German property roadshow
Goldman Sachs is to start its roadshow to sell €1.4bn of shares in a German property portfolio.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

BNP Paribas to spin off clean energy fund manager
BNP Paribas has agreed to spin off its fund manager that invests in clean energy.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

Slowdown in banking sector raises fears of triple dip recession
British banks suffered a loss of business in December, adding to fears that a slowdown in activity across several sectors of the economy at the end of 2012 will push the UK into a triple-dip recession.
The Guardian, p. 20

City workers’ hopes for a bonus take a hiding
The recruitment firm Astbury Martin found 22 per cent of workers in the City are not expecting any kind of bonus during 2013, up from 11 per cent last year. Mark Cameron, chief operating officer, said: “Many more employees in the City are gloomy about their bonus prospects this year. The FSA has recently warned the chairs of bank remuneration committees that they expect 2013 pay levels to be below those of previous years. This is an unprecedented move.”
The Independent, p. 49

Goldman bankers get rich betting on food prices as millions starve

Goldman Sachs made more than a quarter of a billion pounds last year by speculating on food staples, re-igniting the controversy over banks profiting from the global food crisis.Goldman made about $400m (£251m) in 2012 from investing its clients’ money in a range of “soft commodities”, from wheat and maize to coffee and sugar, according to an analysis for The Independent by the World Development Movement (WDM).
The Independent, p. 2

City facing skills shortage
The financial services sector will have shed 43,000 jobs over six months by the end of March, potentially leading to a skills shortage in the industry.
The Times, p. 35

The above articles appeared on 21/01/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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