BANK OF ENGLAND‘S CULTURE ATTACKED -
SHARP ADMITS ‘MATERIAL DOUBT’ ON SURVIVAL -
STORM OVER ‘LAGARDE LIST’ INTENSIFIES -
BANK OF ENGLAND‘S CULTURE ATTACKED
Excessive deference and hierarchy is damaging the Bank of England’s effectiveness, according to three independent reviews that criticise the central bank’s culture.
The bill for UK banks for mis-selling payment protection insurance is set to hit 10.8 billion pounds on Friday when RBS sets aside another 400 million pounds.
SHARP ADMITS ‘MATERIAL DOUBT’ ON SURVIVAL
Sharp has admitted there is “material doubt” about its ability to stay in business as it warned of a second year of record losses.
The refining boom that buoyed oil majors’ third-quarter results could be shortlived, Royal Dutch Shell has warned.
Share buybacks by European companies have sunk to the lowest levels since 2009 as pessimism over business conditions spurs managements to hold on to cash.
Potash Corp has approached the Israeli government for approval to buy rival Israel Chemicals (ICL ), which has a market value of $15 billion.
Igor Shuvalov, Russia’s first deputy prime minister, has defended Rosneft’s acquisition of TNK-BP as helping to speed the privatisation of the state oil group.
STORM OVER ‘LAGARDE LIST’ INTENSIFIES
Greece’s parliament has been asked to investigate why two former finance ministers did not pursue possible tax evaders with Swiss bank accounts.