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Trump Picks Monetary Expert for No. 2 Job at Federal Reserve

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Trump Picks Monetary Expert for No. 2 Job at Federal Reserve Photo Richard Clarida, a former Treasury official and a monetary expert, is President Trump’s nominee for the No. 2 post at the Federal Reserve. Credit Reuters WASHINGTON — President Trump will nominate Richard Clarida, a Columbia University economist and former Treasury official in the George W. Bush administration, for the second-ranking job at the Federal Reserve, the White House said on Monday.
Mr. Clarida is a monetary policy scholar whose expertise would complement the background of the Fed chairman, Jerome H. Powell, who is not an academically trained economist. His nomination was widely expected. If confirmed by the Senate, he would join Mr. Powell and John C. Williams, the incoming president of the Federal Reserve Bank of New York, in the leadership troika for America’s central bank.
The White House also said on Monday that Mr. Trump would nominate Michelle Bowman, the Kansas bank commissioner, for a seat on the Fed ..

Car insurance prices fall as whiplash injury claims are curbed

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Premiums drop nearly £60 this year alone
Car insurance prices have fallen for the first time in three years, partly thanks to plans to crack down on claims for whiplash injuries.
Premiums have dropped by an average of 7 per cent – or £59 – in the first three months of the year, according to research by Confused.com. Prices fell 2 per cent – or £13 – in 12 months after rising in the last quarter last year.
The insurance portal said a government bill to curb the number and cost of whiplash claims was already leaving drivers better off.
Read more Car insurance claims surge 50% as drivers battle snow and ice Going to the wrong car insurance comparison site could cost you £300 Car insurers sidestep EU law to charge men and women differently UK's top spot for 'crash for cash' car insurance claims revealed Men are now paying an average of £810 for cover, and women £715, the survey showed.
Last month the justice secretary, David Gauke, unveiled plans to set a cap on whip..

Now activists want Costa cut free of Whitbread but are they good for the market and UK plc?

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Elliott Advisors and short term activistists like it can only make hay because traditional institutional investors are so lazy
Time to put a dose of caffeine in your shares by spinning off Costa Coffee. That's what Whitbread has been told by activist investors.
Their arrival on the scene has already provided a shot of espresso. The company, which also owns Premier Inn, was the belle of the stock market's ball after it emerged that Elliott Advisers had taken a prominent position in the company, mostly through the use of derivatives.
Elliott's rationale? There isn’t much overlap between the two sides, which would do better as more focussed standalone businesses with their own boards and their own listings.
Read more Limited-edition Costa coffee-infused beer launched by Whitbread Costa Coffee, Premier Inn sales boost Whitbread results Whitbread could suffer if coffee is no longer our cup of tea You can certainly make a case for that and Whitbread's shares have..

WPP: Will it unravel now Sir Martin Sorrell is gone?

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Uncertainty surrounds the future of the advertising giant, which Sir Martin could decide to compete against
Is WPP in its current form a viable business without its founder, CEO and driving force Sir Martin Sorrell?
We’re about to find out.
The company is an agglomeration of more than 400 separate firms whose activities range from advertising to public relations, to market research, to marketing.
Read more WPP shares drop 6% after Sir Martin Sorrell's departure The business world needs more bosses like Martin Sorrell Sir Martin Sorrell quits as WPP boss after misconduct allegations People might have speculated about the potential value that could be delivered through carving bits out when he was in charge, but it was never going to happen.
Sir Martin endured the odd reverse at the hands of his investors, notably over the eye popping pay packages he and his executives enjoyed, but most of the time he was able to swat his critics aside, including when they expressed unhap..