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Clegg panders to City vote with pledge to ban bonuses and shrink banking sector
Nick Clegg has put a lot of effort into assuaging City nerves over a hung parliament. Britain’s credit rating will be safe in Lib Dem hands, he insists. But, even if that is true, Britain’s investors...
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Bob Diamond turns guns on Vince Cable
In opposition one of Vince Cable’s favourite pastimes was taunting Barclays and Bob Diamond, their investment banking chief.Continue reading »
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Lest we forget Lib Dem policy on bank bonuses
Transparency on high-end pay is good for Whitehall but not yet for the City – that is the conclusion emerging from the Treasury. But what about the Lib Dems? Weren’t they billing themselves as the...
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Vince Cable admits new bank tax is only a possibility
We reported yesterday that David Cameron had joined Nick Clegg in warning of new action against banks which did not show bonus restraint. David Cameron warned banks on Friday that they faced higher...
View ArticleTories, the City and donations
One Tory MP buttonholed me this morning to ask why the FT this morning carried a story about the donations from the Square Mile to his party. (Donations from financiers and City firms now account for...
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The Merlin trick on transparency
How transparent is Merlin? George Osborne says it will make London the most transparent financial centre in the world on remuneration. But that won’t mean the public will be able to gawp at the pay...
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