The Times writes that financial services firms have suffered their biggest slump in confidence for m...
The Times writes that financial services firms have suffered their biggest slump in confidence for more than two years, with sentiment in key parts of the sector wilting in the face of fears of global slowdown. Despite rising business volumes across most of the financial services industry, with the notable exception of securities trading, the latest quarterly survey from the Confederation of British Industry and PricewaterhouseCoopers found that optimism collapsed in the first quarter of the year.
The FT says American General moved a step closer to being acquired by AIG on Monday night when it announced that it would meet the world's largest publicly-quoted insurer to discuss its $23bn proposal to buy the company.
The global economic slowdown claimed another victim yesterday, according to the Times when Japan's first online bond trading company closed down after failing to attract any business. E-Bond Securities, a joint venture between Lehman Brothers and Softbank Financial Corporation, one of the world's biggest venture capital firms, aimed to create a new type of market in trading bonds over the Internet.
The Times also notes that the London Stock Exchange yesterday moved to resurrect the idea of regional stock exchanges with plans for nine regional markets. The landMARK initiative has been modelled on techMARK, which groups together high-technology companies, but will instead group companies by their location.
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Responding to letter from Treasury Committee chair Nicky Morgan