The UK Economy

Chief executive waives bonus following a difficult year for the UK bank”. The Chief Executive of Barclays Bank has chosen to receive a bonus following what the bank has described as a “difficult” year. Antony Jenkins had been expected to receive an additional £1m, of a potential bonus of £2.5m, on top of his annual […]

The Director of Enforcement at the Financial Services Authority, Tracey McDermott, appeared before the Andrew Tyrie and the Parliamentary Commission on Banking Standards to answer questions about the FSA’s strategy and approach to dealing with banks and bankers who have stepped afoul of legal standards. One of the leading concerns of Tyrie’s commission was why […]

Talk about surprised!  The FTSE 100 broke 6,300 today for the first time since May 2008.  A couple of months ago most people were saying that it couldn’t happen.  In fact, the doubters would have been cautious enough to say that it wouldn’t breach 6,000 just a month ago.  However it did, in fact top […]

Chairman of budget airline set to quit after three years of internal difficulties. Sir Michael Rake is to step down as Chairman of EasyJet following difficulties with company founder and major shareholder Sir Stelios Haji-Ioannou. EasyJet, which recorded a record annual pre-tax profit of £317m in November 2012, is currently on the verge of joining […]

Mark Carney, incoming Governor of the Bank of England, says “the next two years will be decisive” for the UK banking sector. The incoming Governor of the Bank of England has argued that the issues of “shadow banking” and banks being “too big to fail” would need to be resolved in the next two years […]

The UK economy looks set to enter a triple-dip recession from following GDP fall. The UK economy faces entering a third recession following the announcement of a 0.3% contraction in UK GDP figures during the fourth quarter of 2012. Responding to the GDP figures Chancellor of the Exchequer George Osborne stated that “we have a […]

Comrade Kipper from up North asks me for my views on Inheritance Tax. No problems Mick: it should be abolished at once. Trust that is okay with you? Nope you wish me to explain? No problems. First up this is a taxed on already taxed income. Somewhere along the line the capital one bequeaths was […]

My old pal, from my 12 years at t1ps.com, Robert Sutherland Smith is a cheery old fellow (he is 157) with a dry sense of humour. A noted enthusiast for early morning swimming on Hampstead Heath I imagine that he has a few spare hours on his hands right now. Surely he cannot be swimming […]

When the markets are plunging you tend to read quite a bit about Evil Knievil in the press. Every graduate trainee journalist wants to know what the UK’s best known short seller has to say. When markets are rising as they are now, he tends to fade from view somewhat. Of course you can get […]

Motor giant Ford has signed an open letter to Call Me Dave saying how disastrous it would be if the UK left the Evil Empire. Quite why the words of the boss of a foreign corporation should carry any weight at all escapes me but to be lectured by this company on the benefits of […]