By Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Originally published at New Economic Perspectives
As if the banks hadn’t already done enough to harm small business growth over the past few years, the research also suggests bank charges are starting to cause issues.
Respondents were polled on attitudes to banks in several key areas, with ratings from 1 to 5 – 1 being no issue to 5 being seriously damaging, with anything over 3 classed as harmful to their business.
By Tatiana Didier, Research Economist, Office of the Chief Economist for Latin America and the Caribbean, World Bank, and Sergio Schmukler, Lead Economist at the World Bank. Originally published at VoxEU.
By Invest Chief:Pandora (NYSE: P) is an Internet music service that certainly has seen its following grow over the past few years. Unfortunately, this can lead to more competition, as other firms want a piece of that pie.
Lending through the Enterprise Finance Guarantee scheme reached £84m in the second quarter of 2013 – its highest level since March 2011.
Credit provided through the EFG has grown by almost 25pc since the end of last year, following intervention from the Business Department. However, the initiative is still almost 60pc below its peak in the third quarter of 2009, when it facilitated more than £200m of lending to small businesses.
The Association of Corporate Counsel has jumped into the fight over the $100 million fee plaintiff lawyers want to charge for negotiating a $590 million settlement with Citigroup. In a letter to the court, the 30,000-member association said corporate clients simply don't pay the kind of markups for contract attorneys that plaintiff firm Kirby McInerney is seeking for representing Citigroup investors.
The Business Secretary backed yesterday’s publication by CentreForum, which said small and medium-sized firms are facing a £59bn funding gap over the next four years. The think tank said fast-growing companies are being held back because Britain’s tax rules treat debt finance more favourably than equity.
It called for a range of measures, including the abolition of stamp duty on all share transactions or, if the Government regarded this as too radical, just those on so-called “growth markets” like Aim.
Editor’s Note: Robert F. Serio is head partner in the New York office of Gibson, Dunn & Crutcher and co-chair of the Securities Litigation Practice Group. This post is based on a Gibson Dunn client alert.
2012 proved to be a mixed year for defendants in securities litigation, with several open questions and rare causes for optimism.