Confidence among financial companies at two-year low
Tuesday 13 January 1998
The survey, conducted by Coopers & Lybrand, showed optimism about business prospects was at its lowest level since September 1995 - despite a year of booming sales. Of 230 companies surveyed, a quarter had lost confidence.
David Sayer, partner at Coopers & Lybrand, said: "The most striking feature is that overall profitability rose strongly, yet there's been a negative effect on confidence."
He said banks were worried about rising interest rates, the impact of the Asian financial crisis, and competitive pressure from the newly converted building societies. The report said they were concerned the worries could become self-fulfilling, despite a lack of hard evidence.
Life insurers were increasingly afraid that the new regulatory regime, under the Financial Services Authority, would hit profits and subject them to much tougher control.
As if to confirm this, the Personal Investment Authority yesterday gave itself the power to ban directors from working in the industry as from 18 May.
- Andrew Verity
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
- 4 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...