UK AND JAPAN WARN VOLCKER RULE THREATENS RECOVERY
Britain and Japan have urged the United States to rewrite
its so-called "Volcker rule", saying that trading restrictions
on U.S. banks could hit the international sovereign debt market
at a delicate moment in the global recovery.
GERMANY FIGHTS EURO ZONE FIREWALL MOVES
The German government is set to resist or delay increasing
the size of the euro zone's financial "firewall" against
contagion from the Greek debt crisis, in the face of mounting
pressure from its partners, the International Monetary Fund and
the U.S. administration.
SFO ADMITS TCHENGUIZ CASE ERRORS
The Serious Fraud Office has admitted to "very regrettable
errors" and failures in the way it handled its case against
property tycoon Vincent Tchenguiz.
ICELAND BANKS ESTABLISHED COVERED BOND PLAN
Arion, the bank created from the assets of failed Kaupthing,
has established a 1 billion euro ($1.32 billion) international
covered bond programme, the first by an Icelandic lender since
the country's banking crisis.
RBS BONUS CUTS OFFSET WITH BIG SALARY INCREASES
Increases to the fixed salaries paid to Royal Bank of
Scotland's investment bankers last year will largely
offset cuts to their bonus pool.
EASYJET FOUNDER PLANS WEST AFRICAN VENTURE
Sir Stelios Haji-Ioannou is planning to launch his new
airline venture in West Africa in the coming months with up to
15 jets in what may eventually become an African version of
EasyJet, the UK low-cost carrier he founded.
PROFUMO IN FRAME AT MONTE DAI PASCHI
Alessandro Profumo, former chief executive of UniCredit
and one of Italy's most high-profile bankers, is the
leading candidate to take over as chairman of Monte dei Paschi
di Siena, the country's third-largest bank by assets.
MORGAN STANLEY VETERANS PLAN ADVISORY BOUTIQUE
A group of senior Morgan Stanley managing directors,
each with an average 25 years at the bank, has broken away to
form an advisory boutique in a move that underscores the
difficulties large securities firms are facing in dealing with
clients, staff and regulators.