Wednesday, April 6, 2011
Thursday, September 23, 2010
- Asset managers – the group sank in trading today; AMG, AB, BLK, EV, BEN, JNS, TROW, LM, all finish off 1-2% while IVZ drops ~3-4%.
- Credit cards – the group acted OK today; MA and V both eke out gains. DFS rallies >1% (the stock hits multi-month highs and has had a very strong week since reporting earnings).
Wednesday, September 22, 2010
Vince Cable, the Business Secretary, claims that bankers are more a threat to the UK than trade unions
UK bankers continue to come under attack – Vince Cable, the Business Secretary, claims that bankers are more a threat to the UK than trade unions. Cable will also allege that the corporate world is "murky", that the capitalist system is tainted and "kills competition", and that markets are "often irrational or rigged". He is preparing to intervene to stop bankers receiving bonuses he regards as unjustified. "If there are unacceptable bonuses, the Government has an obligation to intervene. [There must be] a deterrent to banks which are preparing to undertake unacceptable bonuses."…Cable also threatens to impose fresh levies on bank profits London Telegraph. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8017380/Banks-face-new-tax-on-bonuses.html