The Independent on Sunday: Carney to give first steer on Bank’s plans for UK economy
The new Bank of England Governor, Mark Carney, will usher in a new era of policymaking this week when he unveils forward guidance on interest rates for the first time. Mr Carney has already used time-related guidance at the Bank of Canada, where he pledged in 2009 to keep interest rates low until June 2010, to encourage spending.
The Sunday Telegraph: Insurance giant ready to spend £15bn on UK infrastructure
Legal & General is ready to invest £15bn in British infrastructure projects over the next 10 years. The insurance giant, which already has £3bn earmarked for such deals, has, however, spoken out against several high-profile projects, including the High Speed 2 rail link, shale gas and the Mayor of London’s proposals for a new airport in the Thames Estuary. L&G will unveil half-yearly results tomorrow.
The Sunday Times: Lloyds boss in line for £2.2m bonus from state sell-off
Lloyds’ Antonio Horta-Osorio is in line to receive a £2.2m bonus from the bank’s privatisation, thanks to the rising share price. The bank said in March that its chief executive would receive 1.5 million shares if the Government sells at least a third of its stake at 61p or more, at the time worth £1.5m. He will not receive the shares until 2018.
The Mail on Sunday: HSBC tells embassies and consulates to find another bank
Diplomats in London have been given 60 days to move accounts by HSBC. More than 40 embassies, consulates and High Commissions have been affected, including the Vatican’s representative in the UK. The bank said the move is part of an assessment of all business customers to see if they satisfy key criteria such as cost efficiency and liquidity.