Pearson boss defends sale of Financial Times to Nikkei

Pearson boss defends sale of Financial Times to Nikkei

Pearson was no longer the best owner of the Financial Times, the publishing group’s chief executive has said in defence of the decision to sell the 127-year-old newspaper to Japan’s Nikkei. John Fallon gave assurances that the Japanese financial media company would respect the FT’s independence, ensuring that the title would remain “a great British institution”. He told BBC Radio 4’s Today programme on Friday: “In many ways it’s the leading chronicler of global business…

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Guest Voices: Managing Supply Chains is Intertwined With Financial Management

Guest Voices: Managing Supply Chains is Intertwined With Financial Management

Many companies have become adept at using supply-chain management to increase their competitiveness, yet the function remains under-utilized in one vital area: working capital management. As interest rates rise and markets become less tolerant of performers who are careless with working capital, companies may pay a high price for failing to make full use of the financial management capabilities in their supply chains. A study recently published by consulting firm REL, a division of The…

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Pharmaceuticals: Brain power

Pharmaceuticals: Brain power

Garbed in white lab coat and goggles, a young scientist carefully cuts a mouse’s brain into wafer thin slices. She adds a drop of dye to each one before placing it under a slide for inspection beneath a microscope. On a nearby computer screen is a close-up image of a brain fragment from a second mouse, stained with what a researcher says are the telltale signs of a plaque associated with Alzheimer’s disease. The location…

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Austerity’s £18bn impact on local services

Austerity’s £18bn impact on local services

Local authorities have scrapped access to vital services for 150,000 pensioners and cut child protection spending by 8 per cent since 2010, as cash-strapped councils scramble to cope with George Osborne’s austerity drive, analysis by the Financial Times has found. Across Britain, services have been abandoned and entitlements altered as the chancellor has conducted one of the developed world’s most effective exercises in deficit reduction. A detailed breakdown by the FT of council spending over…

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China’s biggest state banks recruited into stock market rescue

China’s biggest state banks recruited into stock market rescue

The huge scale of Chinese government intervention to staunch a stock market sell-off has been revealed by reports showing the country’s biggest state-owned banks have provided the equivalent of more than $200bn to help prop up equities. Much larger than previously disclosed, the lending to the country’s margin finance agency highlights the sense of urgency with which top officials viewed the threat to the financial system and the broader economy as the stock market cratered earlier this…

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Sir Mike Rake to step down as Barclays deputy chairman

Sir Mike Rake to step down as Barclays deputy chairman

Sir Mike Rake is to step down as deputy chairman of Barclays this year to become chairman of Worldpay, the payments processing company, having last week orchestrated the sacking of the bank’s chief executive. His departure comes after Barclays said he was the main instigator behind the ousting of Antony Jenkins and the appointment of chairman John McFarlane as interim CEO. Investors and corporate governance experts said they were concerned that his exit could leave the…

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FT investigation

FT investigation

In July 2013, a hacker calling himself “Peace” uploaded a malicious string of code into computers at the US Department of Energy, the agency that oversees the American nuclear weapons programme, its power production and other vital national interests. Peace hit the jackpot, gaining access to a trove of confidential personal data — including the names of employees, their social security numbers and their bank account details. “YASSSS,” he typed in an online chatroom. “I…

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Global Financial Institution

Global Financial Institution

Many financial services firms have struggled to keep pace with the onslaught of regulatory, conduct and compliance related issues during the past five years. Instead of investing in new products and solutions, or systems to improve productivity and increase profitability, firms are continuing to invest hundreds of millions of dollars in projects related to Global Structural Reform (GSR) – regulations that were introduced after the financial crisis to re-shape financial institutions and make them more…

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Global economic outlook

Global economic outlook

During the past week, the Greek situation had apparently regressed back into negotiation stalemate and media attention turned to China’s stockmarket slide. However, away from the media focus, the BRICS Bank was launched and Russia made a strategic overture to Greek business tycoons. This opened with an advancing Bitcoin price chart and, ironically, will feature several central bank announcements, as the global economy and political arena shifts poles before our eyes. In the Calendar This…

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Financial regulators worry about Australia’s soaring house prices

Financial regulators worry about Australia’s soaring house prices

The head of the Abbott government’s financial system inquiry, David Murray, isn’t surprised that financial regulators are concerned about soaring house prices in parts of Australia. The Treasury secretary, John Fraser, recently said “Reserve Bank’s governor, Glenn Stevens, last week described some of things that are happening in Sydney as “crazy”. Murray, a former Commonwealth Bank boss, said Australia wasn’t facing the same set of circumstances as the US before the 2008-2009 global financial crisis…

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European stock price rise annually

European stock price rise annually

European share prices rose on Wednesday, as Greece, according to a copy of a letter seen by The Wall Street Journal, has requested a three-year bailout from the Eurozone’s rescue fund and pledged to start implementing some fresh fiscal overhauls. Germany’s DAX stock index climbed 0.7% and France’s CAC-40 added 0.8%. In Southern Europe, Italy’s FTSE MIB was up 2.6% and Spain’s IBEX gained 0.8%. The pan-European Stoxx Europe 600 index closed less than 0.1% higher,…

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How today’s budget influence landlords

How today’s budget influence landlords

Landlords across the UK will be hit in the pocket after the Chancellor announced that he is reducing tax relief on private rented homes, in an attempt to quell the economic risk posed by the booming buy-to-let market. Mr Osborne said the income tax relief enjoyed by landlords will be cut to the basic rate, which currently stands at 20pc. The measure, which will address “unfairnesses in property taxation”, will be phased in “gradually” from…

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Trans-Pacific Pact

Trans-Pacific Pact

(Reuters) – Buy Japan. Buy Vietnam. Buy U.S. media stocks. Buy Mexican food stocks. Sell China. For investors wanting to take advantage of the Pacific Rim free trade pact that appears to be nearing completion, that’s what a savvy stock strategy might look like. The 12 nations of the Trans-Pacific Partnership (TPP) could wrap up an agreement in coming weeks, after the pact cleared a major U.S. hurdle with Congress’s decision to give broad negotiating…

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What will happen if Greece leaves Eurozone

What will happen if Greece leaves Eurozone

NEW YORK (The Street) — Should the U.S. and the rest of the world really care that Greece is standing on the brink of defaulting on its debt and possibly abandoning the euro? After all, its economy amounts to just 2% of the whole Eurozone. If it does tumble out of the euro, Greece’s GDP will probably shrink by as much as 20% to 30% as its access to international credit evaporates and its international trade…

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Slower economic growth in China

Slower economic growth in China

According to the New World Bank report, “China is adjusting to slower economic growth.” “In 2015, it remains a priority for China to balance reforms and short-term growth, because large-scale, broad-based stimulus measures aimed at supporting growth may conflict with efforts to make the economy more sustainable in the medium run,” said Chorching Goh, Lead Economist for China. China’s economic structure is slowly changing. On the one hand, economic activity remains constrained by overcapacity in heavy industries,…

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