Howzat! WPP boss Sir Martin Sorrell was in action at Sir Victor Blank's charity cricket match over the weekend when he suffered a minor travesty of justice at the hands of former CBI chief Lord Jones, aka ex-trade minister Digby Jones... more
As the first Lord's Test match gets under way today, a copy of Cricket, Wonderful Cricket, a new book by former financial PR man and sometime Evening Standard columnist John Duncan, lands on City Spy's desk... more
The boss of one quango tells City Spy of how he had to face furious attacks from his upset employees when his organisation’s name was leaked among 200 such bodies to be cut... more
It is a pity, but probably inevitable, that Lloyds Banking Group chief executive Eric Daniels' retirement next year should be met with the question: "Did he go or was he pushed?"... more
Ring, ring. Finsbury, Roland Rudd’s PR firm, is on the line with an (increasingly common) request that is somewhere between cheeky and downright rude... more
“There is not a clear message regarding future wholesale costs movements that can be communicated to customers” E.On’s Paul Golby obliquely commented recently, on the chances of a cut in retail prices for Britain’s households...... more
One year ago today, the news broke that Lloyds TSB was going to take over HBOS in a £12.2 billion all-share deal. With the benefit of hindsight, it is still staggering to read the press release issued to the Stock Exchange the following morning, 18 September... more
This is a wake-up call for the Speaker of the House of Commons. Also for the Chancellor of the Exchequer, the Master of the Rolls, the Paymaster-General and the Governor of the Bank of England and his deputies ... more
UK Financial Investments, the quango set up to look after taxpayer stakes in Lloyds Banking Group and Royal Bank of Scoltand, is clearly unhappy about the amount of media attention it is attracting ... more
Once again, this Government has created a beast it cannot control. When Lloyds TSB, HBOS and Royal Bank of Scotland turned to the Treasury for their combined £37 billion bailout last year, wiser voices than mine argued for full rather than part privatisation ... more
BP may finally have got its man, but a number of other companies remain chairmanless amid fears that the role at some of Britain's biggest companies may have become just too unpalatable.... more
Ousted Lloyds Banking Group chairman Sir Victor Blank today apologised to furious shareholders but insisted the takeover of failed rival HBOS was the right thing to do ... more
The government body which looks after the taxpayer’s stake in bailed-out UK banks today gave its backing to the Lloyds Banking Group board after the ousting of chairman Sir Victor Blank ... more
How often have supposed shareholder revolts on directors' pay turned into a damp squib? Very. Much of the blame can be laid at the door of the institutional shareholders. ... more
A 750-strong team of PricewaterhouseCoopers and former bank staff handling the Lehman administration is thinking of leaving the bank’s old headquarters at Canary Wharf for cheaper premises in the City?
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It was suggested here last Monday that it would be best if Sir Victor Blank stood down as chairman of Lloyds Banking Group rather than put the business through the strains of a shareholder revolt against his re-election. That is the decision he has wisely taken and he can now move on.... more
As Lloyds Banking Group began its search for a new chairman today, it launched a £4 billion fund-raiser to buy back the Government’s preference shares.
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Sir Victor Blank is to step down as chairman of Lloyds Banking Group in the next year, following intense criticism of his part-nationalised British bank’s purchase of troubled rival HBOS ... more
No one seems to have a good word for Sir Victor Blank, chairman of Lloyds, who happily signed up to the merger of HBOS without, as his chief executive admits, doing anywhere near enough due diligence... more
Economics: As the world’s richest and most powerful executives fly out to the luxury Alpine resort of Davos, the hotels and restaurants hosting their glittering parties and dinners are braced for chill economic winds... more
Tonight:
3°c
