Tag Archives: chief

China’s central bank chief urges Beijing to promote equity, cut debt, eliminate ‘zombie’ companies

China’s central bank boss spelled out his strategy to prevent a future financial crisis, urging broadened equity funding and direct finance to reduce corporate leverage and eliminate “zombie” companies, official media reported on Saturday. Zhou Xiaochuan, Governor of People’s Bank of China, said that the market should play a “decisive role” in allocating financial resources, but also stressed the importance of stronger ... Read More »

Christian Candy’s finance chief denies ‘good cop, bad cop’ game

Christian Candy: described in court as ‘a very confident businessman’ and ‘very direct’ by the finance director of CPC. Photograph: Philip Toscano/PA The finance director of Christian Candy’s property firm CPC played a “good cop, bad cop” game with the businessman Mark Holyoake, the high court has heard. Tim Dean, the finance director of CPC, appeared in the high court ... Read More »

EU Brexit chief sees special care for financial service ties

The European Union’s Brexit negotiator Michel Barnier said on Saturday that the EU will demand “special vigilance” before letting British financial firms access the bloc because of the large risk London could pose to the EU’s financial stability. Responding to a report in the Guardian which said he had told EU lawmakers that he wanted a special deal to maintain ... Read More »

Deutsche Bank chief calls for mergers in Europe

The head of Deutsche Bank made a rare public call on Wednesday for cross-border mergers in Europe, weeks after Germany’s flagship lender scraped through regional stress tests. John Cryan’s remarks will likely spur further discussion about the future of the struggling bank, although he was quick to throw cold water on reports that Deutsche examined a merger with Commerzbank – ... Read More »

Restaurant Group ousts chief executive

Britain’s Restaurant Group, the struggling owner of the Frankie & Benny’s and Chiquito chains, has ousted its chief executive, replacing him with a former boss of bookmaker Paddy Power. The firm said on Friday that Danny Breithaupt, CEO for the last two years, had left the company and would be succeeded by Andy McCue on Sept. 19. “The board has ... Read More »

Bank of England’s chief economist calls for more simple pension system

Over-complex pensions are harming the UK economy and reinforcing mistrust of the financial sector, the Bank of England’s chief economist has warned, as he admitted even he was unable to make the “remotest sense” of them. Andrew Haldane said ordinary workers had no chance of making informed decisions for their retirement funds when experts and financial advisers “have no clue ... Read More »

Iran still locked out of global financial system, says central bank chief

The governor of Iran’s central bank has said obstacles stopping Iranian banks from rejoining the global financial system show that the US and the EU are failing to fully comply with their commitments under the landmark nuclear deal. Four months after the lifting of sanctions against Iran, big European banks remain reluctant to handle Iranian payments despite recent efforts by ... Read More »

Target hires Nordstrom exec as chief merchandising officer

Big-box retailer Target Corp (TGT.N) appointed Nordstrom Inc (JWN.N) executive Mark Tritton its chief merchandising officer, nearly a year after Kathryn Tesija left the position. Target also promoted Jason Goldberger to the newly created role of chief digital officer, the company said on Tuesday. Tritton is a former president of Nordstrom Product Group and he has earlier worked with apparel ... Read More »

French bank chief ‘more worried about sector now than in 2009’

The chairman of France’s second-biggest retail bank is more worried about Europe’s banking sector now, in some ways, than when he took the reins at BPCE bank during the depths of the global financial crisis in 2009. Francois Perol said on the sidelines of an economic conference in Italy on Saturday that negative interest rates in the euro zone were ... Read More »

Time is running out to revive the global economy, warns IMF chief Christine Lagarde

Time is running out for policymakers to stop the scars of the 2008 financial crisis from eroding the social fabric of nations, the head of the International Monetary Fund has warned. Christine Lagarde said co-ordinated action was needed to prevent the global economy from slipping into a “new mediocre” of low growth that would be “hard to reverse”. While Ms ... Read More »