Sir Mervyn King has said – in a rare admission – that the Bank of England failed to do enough to warn about the risks building up in the banking sector ahead of the financial crisis.
Category: News Wire
Daily feed of the best news affecting your small and medium sized business SME / SMB from media and websites in Britain and across the world
Brussels to relax fiscal targets as revolt spreads
The European Commission is preparing a major shift in economic strategy, fearing that excessive fiscal tightening will inflict unnecessary damage on a string of eurozone countries.
Europe pressed for action to end debt crisis
Global finance chiefs pressed Europe in weekend talks to quickly put in place the economic reforms needed to finally extinguish its debt crisis now that newly increased financial buffers have bought some precious time.
Barclays hopes £2bn profit will quell Diamond pay row
Barclays is set to announce profits for the first three months of the year of £2bn this week as it attempts to convince investors its financial performance merits the £17.7m compensation package it has controversially awarded chief executive, Bob Diamond.
Barclays pay row lifts the lid on bank’s closed culture
Bob Diamond’s tax bill is just the tip of the iceberg.
Britain must curb RBS & Lloyds pay
Britain should rein in salaries at Royal Bank of Scotland and Lloyds as anger over bankers’ pay mounted ahead of their annual general meetings.
Condé Nast checks out with Recipe & Shopping List Service for $14M
Condé Nast can now check ZipList off its shopping list as the magazine giant has announced that it has acquired ZipList, a digital shopping list and recipe service for $14Million.
Taxman gets the power to charge new businesses upfront
Employers could be made to pay Revenue & Customs in order to trade after the taxman was awarded new powers last week.
Barclays boss Bob Diamond ‘deserves no bonus’
Barclays chief executive Bob Diamond should not get any bonus at all, according to a shareholders advisory group.
QE may hit UK recovery, debt agency chief warns
More money printing by the Bank of England could hurt Britain’s recovery by pushing up the cost of Government borrowing, the head of the Debt Management Office (DMO) has warned.
Businesses urged to “cheque” outlay
The rising cost of stamps is set to add millions of pounds to the cost of sending cheques in the post as it becomes the more expensive payment option.
UK economy on Knife-Edge
Britain will likely avoid sliding back into recession this year, thanks to solid growth in overseas markets, but the the government needs to do more to intice banks to lend into a weak economy, the British Chambers of Commerce said Tuesday.
Google Opens London Centre for Start-ups
Teaming up with the government, Web giant creates a sprawling campus to support early-stage companies.
Twitter Opens Up Small Business Ad Program
10,000 small business merchants take their ads to Twitter this week.
Summer weather blamed for sickies
The number of employees who called in sick yesterday is treble the count for the whole of last week
