The government is set to reap nearly £30bn from its emergency bailout of UK banks – a sum that would fund the country’s primary schools for a year – reveals The Banker in its September issue.
The return to profitability will represent a significant improvement on the estimated losses of £850bn, made at the height of the crisis, as the government propped up struggling institutions. The turnaround is down to a combination of recovering banking profits, rises in share prices and profits on fees charged for loans and guarantees.
NEW YORK: The Financial Times today announces the appointment of David Gelles as US media and marketing correspondent. Previously, he was a San Francisco-based technology correspondent, covering social media, e-commerce and e-books. He served as a web content developer for FT.com prior to that.
Gelles will move to New York in due course to cover long-established content and distribution companies, disruptive digital media innovators and the wider marketing industry.
Last night the Financial Times scooped the prestigious ‘Media Owner of the Year’ award at the Festival of Media Awards in Valencia.
The Financial Times was recognised by a panel of international judges as being “the global media owner to turn to in tough times”, fighting off stiff competition from rivals. The panel also commended the organization on its marketing initiatives, including the Global Downturn campaign, which featured bare poster sites with the text “Global Downturn. What’s the first mistake businesses make?”
The Financial Times today announces that BurrellesLuce, a US provider of media monitoring services, has agreed a new license with the Financial Times that will increase its coverage and change the way FT articles are accessed.
From 1st October 2010, the BurrellesLuce service will deliver links to FT articles hosted on FT.com, including online content and PDFs of press cuttings from all regional print editions of the FT newspaper.