Leading bankers warn new rules will hit recovery - papers

Harsh banking regulation will negatively impact the economic recovery and cost upwards of 10 million jobs globally, the world's leading bankers have warned.

The Institute of International Finance (IIF) yesterday hit out against national governments who want to "gold-plate" the new Basel III regulations with "arbitrary constraints", reports the Independent.

The Washington-based body warned against unilateral actions to impose on banks fresh levies or even tougher capital requirements, or to bring forward the implementation of Basel III, which is not scheduled to be fully in force until 2019.

Read more 

Cameron's secret plan to cut UK's £149bn debt

The Government is working on a secret plan to tackle Britain's £149bn deficit by hiving off state-owned property assets worth tens of billions of pounds and selling them to the private sector.

Prime Minister David Cameron is understood to have written to all ministers demanding they produce an inventory of the property in their spending departments, including lengths of leases and occupants, writes the Telegraph.

The Office for National Statistics estimates that government property is worth about £370bn. However, there is no comprehensive register of the entire portfolio and some City experts believe the estate could be worth £500bn.

Read more

Double-dip recession fears rise among CFOs

Optimism among the finance chiefs of Britain's largest businesses has fallen for the third quarter to hit the lowest level in 18 months.

In a stark warning to the government, they see a 34% risk that the economy will tip back into recession, writes the Guardian.

Finance chiefs are as gloomy as they were as the height of the recession in spring last year with the balance of respondents reporting greater optimism registering a drop to 16% from 23%.

The findings come as accountancy and business advice firm BDO warns the economy could stop growing at the start of next year and shrink in the second quarter.

Read more