Press Round-up – March 30

March 30, 2012

Treasury urged to halt brain drain
Treasury bosses will need to stem a flood of staff departures and beef up pay if the department is to be effective in dealing with future financial crises, according to an internal report. (Times)

BOE faces calls for full review of handling of financial crisis
The Bank of England is facing calls to publish a full account of how it handled the financial crisis after the Treasury admitted it had made mistakes when the UK’s banking system was on the brink of collapse. (Guardian)

UK facing double-dip recession, says OECD
Britain has fallen back into recession, signalling the Bank of England must turn on its printing presses to shore up the economy, the OECD said on Thursday. (Telegraph)

Investment banks suffering as M&A stalls
Investment banks face the prospect of another disappointing year as companies put off dealmaking, depressing fees for the first quarter of 2012 to their lowest level for three years. (FT)

FSA threatens action on investment banks
The Financial Services Authority is threatening regulatory action against several investment banks after it discovered shortfalls in their anti-bribery controls.  (FT)

Leveraged IPOs attract interest
Investors in U.S. initial public offerings are showing greater appetite for companies with high levels of debt, which could lead to more private equity-owned companies being floated.   (FT)

World Bank job favorite ‘lacks expertise’
The U.S. candidate to head the World Bank, Jim Yong Kim, lacks the “appropriate development credentials” to do the job properly, one of his chief rivals for the position said in an interview with the Financial Times. (FT)

Commodity hedge funds returns falter
Commodity hedge funds are sitting on disappointing returns for the first quarter in spite of one of the biggest monthly rallies in crude oil in years and falling market volatility. (FT)

Co-op warns over Lloyd’s branches deal
The Co-operative Group gave the strongest signal yet that its talks to buy 630 branches from Lloyds Banking Group could unravel after it warned there were still significant regulatory hurdles to overcome. (FT)

No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see