The Times reports today that an investigation by the chief City watchdog has failed to uncover ...
The Times reports today that an investigation by the chief City watchdog has failed to uncover evidence of irregular share dealings in London ahead of the September 11 terrorist attacks on New York and Washington. Sir Howard Davies, chairman of the Financial Services Authority, said yesterday there had been no insider trading in the days before the attacks. He was giving evidence to the Treasury Select Committee.
The FT writes that Gerhard Schröder, Germany's chancellor, has underlined the growing impatience of eurozone governments with the European Central Bank's monetary policy by making clear he wanted an early interest rate cut to help Europe out of its economic slowdown.
Output from US industry shrank for the 12th consecutive month in September, says the FT, marking the nation's longest uninterrupted industrial decline since the second world war, according to figures released on Tuesday by the Federal Reserve.
According to the FT, Sir Edward George has hinted he would back further cuts in interest rates and warned the global economic slowdown could last for three more years. In a speech to business people in Wales on Tuesday night, the governor of the Bank of England warned of "a bumpy ride", and promised the Bank's monetary policy committee would not hesitate to cut interest rates if there were insufficient demand to keep inflation on target.
The Times writes that a report criticising the handling of the collapse of Equitable Life by the Financial Services Authority (FSA) is published today. The report covers the FSA's handling of the affair from when it took over responsibility for insurance regulation on January 1, 1999 through to Equitable's closure to new business on December 8, 2000.
The report gives details of events leading up to the insurer's collapse, when the company was regulated first by the Department of Trade and Industry, then by the Treasury.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till