George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards. Follow George on Twitter @gfhay
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David Walker always envisaged he would step down in August 2015. The current lack of clarity over who will be running the board wouldn’t matter if things were going well. But with Barclays at a strategic crossroads, it needs solid and sustained leadership as soon as possible.
Chinese buyers are a key new factor pushing up the UK capital’s property prices. As Beijing relaxes capital controls, the wall of money could intensify. UK politicians will need to decide whether to protect London’s global financial status, or the citizens who have to live there.
The resignation of Paul Myners deprives the ailing mutual of a key private-sector voice on its board. Co-op has no shareholders to hold it to account, and its complex democracy makes it hard for members to do so. That leaves lenders in a powerful position to drive change.
- Memo to global bank regulators: stop bullying Asia
- Euro crisis 2.0 will need a new shock absorber
- Sumitomo’s U.S. expansion needs cautious approach
- Compromise leaves banking union flawed not floored
- UK budget set to focus on all the wrong areas
- Another well-meaning plan that lifts banker pay
- Scots’ devolution makes more sense than secession