The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.
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Thursday 10 March 2011
Northern Rock chairman Ron Sandler was treading on shaky metaphorical ground yesterday when discussing cost cuts at the group. "'We need to grow into our shoes,' is what I've said in the past," he said. "We need to make sure they are constructed as best we can to make them fit the size and type of business we are." Diary, and perhaps Mr Sandler himself, had rather lost the thread at this point. Was there a pair of shoes waiting for Mr Sandler and company to grow into? Or is he making another pair of shoes? Either way, it all sounds like a load of cobblers to us.
Monday 07 March 2011
With expectations high that it will unveil a share buy-back this week, investors in Morrisons have a reason to look forward to the supermarket group's full-year figures on Thursday, despite the downcast sentiment surrounding the wider sector.
Tuesday 15 February 2011
Wednesday 02 February 2011
The Financial Services Authority (FSA), the market watchdog, has raised its budget for the coming year to just over half a billion pounds, an annual increase of more than 10 per cent.
Wednesday 19 January 2011
The blue-chip index may have reached its highest point since June 2008 yesterday, but Prudential was left behind as analysts urged caution over its exposure to the US.
Sunday 26 December 2010
The US takes over two of Britain's market-leading brands: buy-out group KKR pays £955m for Pets at Home, and Cadbury bows to Kraft's £11.5bn offer.
Tuesday 21 December 2010
Saturday 11 December 2010
Q. I made a claim for acupuncture from my PruHealth Personal Health Fund. Prudential has repeatedly promised to meet the claim, but it has instead rejected or ignored them. They have also continually changed the criteria on eligibility. I have spent many, many hours trying to sort this out with Prudential and I don't believe that this can be resolved without third-party assistance. HP, Lewes.
Thursday 02 December 2010
Prudential unveiled plans to boost growth and profits in its Asian markets yesterday, underscoring its belief in the region's potential following its abortive attempt to acquire AIA, the local arm of the American International Group (AIG), earlier this year.
Thursday 02 December 2010
The markets were making amends yesterday after a poor recent run, but it was not enough to prevent defence stocks struggling thanks to fears over US government spending.
Friday 12 November 2010
Outlook There has been a sudden change of tack from John Tiner, chief executive of Resolution. Since this endeavour first floated two years ago next month, its ambition has been to build a portfolio of British life insurance businesses worth £10bn. Having got almost two-thirds of the way with the acquisitions of Friends Provident and the UK life business of Axa, a third big buy has been promised and is keenly awaited. Yesterday, however, Mr Tiner said the company might now opt for a series of smaller deals to achieve its goals and that another big takeover was not inevitable.
Thursday 11 November 2010
So he's still in a job then?
Thursday 11 November 2010
Wednesday 10 November 2010
Many Londoners look forward to the second Saturday of November, when the Lord Mayor's Show celebrates the appointment of a new Lord Mayor. But don't forget that civil engineer Michael Bear, this year's man in the hot seat, also has an important job to do, representing the City of London (so effectively the financial services industry) on a national and global stage. His participation in a Zulu dance this weekend, complete with "shield and dancing stick", can only enhance his credibility as he prepares for the job.
Tuesday 02 November 2010
The former boss of Lloyds of London resurfaced yesterday, taking a job as a non-executive director of life insurer Legal & General. Nick Prettejohn, a contemporary of the Foreign Minister William Hague at Oxford, will join the company's remuneration committee – charged with setting boardroom pay – and its risk committee as part of the role.
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