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’Lord Myners believes in dour Scotsmen
Want to ensure that your bank is well-managed? Then appoint a cynical Scotsman to its audit committee.
Such was the advice proffered, in apparent seriousness, by the UK’s City Minister Paul Myners to a commission on the future of banking.
Myners enters the HFT debate
City minister Paul Myners on Tuesday became the first mainstream UK politician to wade into the current debate on the dangers of high frequency trading (HFT).
Though his contribution will no doubt drown under certain other news,
Myners promises alternative to draft EU hedge rules
The European Commission’s draft directive on hedge funds and private equity funds can and will be improved, according to the financial services minister, Lord Myners. “The UK government does agree there is a case for regulation at the EU level,” Lord Myners told the House of Lords EU subcommittee on Tuesday,
Over the hedge and into government
Hedge funds haven’t had much luck getting their message across to the public or the government over the past few weeks, being labelled “bank robbers” by an archbishop, no less.
Their lobbying power at the heart of government has taken a turn for the better thanks to the latest reshuffle,
The Myners/Flowers/GLG/Virgin Rock clash
Virgin Money, the Branson offshoot which wants to buy Northern Rock, on Friday launched a green investment fund. The fund’s manager, GLG Partners, will only invest in companies with lighter than average environmental footprints as well as companies that provide,
Break up report lifts UK’s Land Sec
So is this a yes, or a no, or a maybe? Asked by The Daily Telegraph whether Land Securities had any specific plans, such as a break-up, chairman Paul Myners said:
Nothing I’m going to comment on.
No matter.
Myners adds to criticism of buy-out taxes
Paul Myners, a former chairman of Marks and Spencer, on Monday joined the growing chorus of criticism of the UK’s preferential tax treatment of private equity gains. Mr Myners questioned why buy-out executives could earn huge payouts but pay less than 10 per cent tax.
GMG in talks over selling Trader Media
Guardian Media Group, the newspaper group chaired by Paul Myners, is in talks with three private equity firms over the sale of Trader Media Group, the company behind the Auto Trader car listings magazine,
Myners warns of risks of private equity
Paul Myners, the City grandee and former chairman of Marks and Spencer, has weighed into the heated political debate on private equity with a broadside against the sector. Mr Myners criticised the lack of job security and loss of benefits for the thousands of workers now employed by private equity — which owns businesses employing close to one in six UK private sector workers.