News

Standard Chartered has unveiled sweeping changes in its boardroom following reports of discord at the top of the FTSE 100 bank.

Mervyn King: Banks 'exploit gullible customers'

High street banks are bracing themselves for share sell-offs and more public criticism tomorrow after the Bank of England Governor launched an astonishing attack, warning of another banking crisis if the sector is not reformed.

Standard Chartered says UK is 'less enticing'

Standard Chartered warned yesterday that muddled rules and the banking levy were making the UK a less attractive base for its booming business as the bank racked up its eighth straight year of record profit.

HSBC tipped to announce a £2bn bonus pot

This week will see the end of the bank results season, with all eyes on HSBC's bonuses.

The Business On... Lord Davies, Chair, Review of Women on Boards

Um, isn't he a chap?

Market Report: Cairn Energy hit as deal uncertainty re-emerges

The latest developments in the attempted sale of its controlling stake in Cairn India left Cairn Energy stuck near the foot of the blue-chip index yesterday. The oil and gas explorer agreed to sell up to 51 per cent of the unit back in August to Vedanta Resources as part of a deal worth as much as $9.6bn (£6bn), but the move has still not received clearance from the Indian government.

Vodafone confirms Kleisterlee as new chairman

Vodafone has confirmed the outgoing boss of electronics giant Philips will succeed Sir John Bond, who was the subject of a shareholder revolt, when he steps down in the summer.

Market Report: Tubthumping boost for Standard Chartered

The lyrics of Chumbawamba are not usually discussed in the City, but for one analyst the band – whose guitarist famously poured a bucket of water over John Prescott at the 1998 Brit Awards – provided a rather unusual source of inspiration yesterday.

Will we recover, muddle through, or nosedive?

With the new year rung in, experts at the world's biggest banks are keen to predict the next economic trends. Nikhil Kumar gives the lowdown on their forecasts for 2011

Petropavlovsk names first female director in boardroom shake-up

The Russian gold miner Petropavlovsk will announce a management shake-up this week, inducting three new executive directors – including its first female board member – and a new senior independent non-executive director, after a review of its business.

Quotas for boardroom women all but ruled out

The former banker investigating ways to get more women executives appointed to Britain's boardrooms will today give his strongest indication yet that quotas have been ruled out.

Commodities soar: The year the super cycle returned

Emerging economies revived and stoked demand. By Nikhil Kumar and Sarah Arnott

Business Diary: Ogston's gong is well deserved

Our congratulations to Hamish Ogston, the founder of CPP Group, one of the few businessfigures to be rewarded in the New Year Honours list today – he's getting a CBE for services to business in Yorkshire. Ogston is living proof that you don't need aconventional CV to make it in business – he joined the Norwegian merchant navy aged just 17 and, once he'd finished seeing the world, founded a string of businesses. With ventures such as the Guinness World of Records in the Trocadero Centre in London to his name, CPP, an insurancebusiness, is actually one of his least interesting operations, even if it has been very successful.

Banks 'charged too much' for underwriting share issues

London's banks will be accused today by the City's institutional shareholders of massively overcharging for underwriting share issues.

City shrugs its shoulders as bank levy is unveiled

The City barely shrugged yesterday despite the Government's publication of draft legislation to take £2.5bn a year from banks through the banking levy.

Government plans to raise £2.5bn with bank levy

Britain's banks will pay an extra £2.5 billion in tax a year by 2012 under draft legislation published today in a Government move to repair some of the damage caused by their role in the financial crisis.

News
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