Watchdog probes pension funding at Coats

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Watchdog probes pension funding at Coats

Watchdog probes pension funding at Coats
The Pensions Regulator has launched an investigation into whether more support needs to be offered to the under-funded pension scheme of Coats before it can be floated on the London Stock Exchange.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

HOUSE PRICES IN SPAIN AND SLOVENIA SLUMPED IN LAST QUARTER OF 2012
Residential property prices in Spain and Slovenia fell sharply in the last three months of 2012, data released Thursday showed.
International Herald Tribune, p. 17

London urged to close tax loopholes
Austria’s finance minister has criticised Britain for not doing enough to prevent tax evasion and money laundering.
The Daily Telegraph Business, p. 4
Also appeared in : City AM London, p.10

JP Morgan: red tape cost may break up banks
The world’s biggest banks may have to break up because chaotic regulation across the globe is pushing costs up to unsustainable levels, a top analyst at JP Morgan warned yesterday.
City AM London, p. 3

Central bank policies must guard against risk, says IMF
The International Monetary Fund has warned that loose central bank policies could threaten global financial stability when interest rates rise because lenders could become “addicted” to financing and put off vital reforms.
The Daily Telegraph Business, p. 1
Also appeared in : City AM London, p.1, The Guardian, p.33

HSBC offloads Macau insurer
HSBC yesterday agreed to sell its Macau general insurance business, valued at around 6.97m Hong Kong dollars (£580,000), as the banking giant continues to dispose of non-core businesses.
City AM London, p. 8

FTSE climbs for fourth session as M&S rallies
Britain’s top share index rose for the fourth consecutive day yesterday, helped by a surge in retailer Marks & Spencer and financial stocks as well as by strong data on the US economy.
City AM London, p. 15

CENTRAL BANK BUYING BONDS IN ATTEMPT TO END DEFLATION
The Bank of Japan said Thursday that it would buy ¥300 billion in government debt with maturities of 10 years or more Friday, as the central bank aimed to push down longer-term yields to end deflation.
International Herald Tribune, p. 17
Also appeared in : Financial Times, p.5

Banks lobby against auditor rotation
Lloyds Banking Group and Royal Bank of Scotland have told the Competition Commission that it was wrong to consider forcing companies to change their audit firm periodically.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

A deft ploy from banks to cut risky assets
NEW YORK Banks have been shedding risky assets to show regulators that they are not as vulnerable as they were during the financial crisis.
International Herald Tribune, p. 16

R.B.S. banker is poised to quit over rate-fixing Banker set to quit R.B.S. in Japan
A senior executive at Royal Bank of Scotland’s investment banking unit in Japan is expected to resign in the wake of a rate-rigging scandal, according to a person with direct knowledge of the matter.
International Herald Tribune, p. 14-16
Also appeared in : The Times, p.43

Germany has doubts about bank supervisor
Germany has raised new concerns about a proposal to create a single banking supervisor for the European Union that could delay plans to help troubled lenders that finance ministers were to discuss here on Friday.
International Herald Tribune, p. 14

CITIGROUP CONTINUES SHEDDING GLOBAL ASSETS WITH TURKISH SALE
Citigroup agreed on Thursday to sell its consumer banking business in Turkey to the local lender DenizBank, its latest effort to unload international assets.
International Herald Tribune, p. 17

Fury over HBOS bosses given ‘failure bonuses’
MPs have called for an inquiry into why former HBOS bosses were given almost £1m in “bonuses for going bust”. Seven HBOS directors collected cash bonuses of £914,000 in “change of control” payments when the bank was rescued by Lloyds and bailed out with £20bn of taxpayers’ money in 2008.
The Guardian, p. 10

Banking & finance
Worries about the corrosive effects of higher inflation prompted investors to pile into British inflation-proof bonds in a gilts auction.
The Times, p. 44

The above articles appeared on 12/04/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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