London’s financiers paid tribute to former Prime Minister Margaret Thatcher, who died yesterday, as the woman who helped guide the city’s transformation from a provincial trading hub to the world’s top financial center.
Tullett Prebon Plc and Standard Chartered Plc, Britain’s second-largest bank, criticized European Union plans to cap bonuses at twice bankers’ base salary, saying they risk damaging their global competitiveness.
U.K. stocks rallied to their highest level since 2008 as services industries unexpectedly accelerated last month and as companies from Xstrata Plc to Standard Chartered Plc increased their dividend payouts.
Tullett Prebon Plc, the British inter-dealer broker run by Terry Smith, fell the most in three months after the Financial Times reported that one of its employees has been implicated in the Libor-rigging scandal.
Exchange-traded funds are developing in a similar way to the shadow banking system that almost brought down the world’s financial system in 2008, according to Terry Smith , chief executive officer of Tullett Prebon Plc .