News in brief: Eurozone lenders to repay loans early, Canada’s looking for another Carney, Christies sells Nine Elms warehouse

p42 p43 RNPS IMAGES OF THE YEAR 2012 - Bank of Canada Governor Mark Carney laughs during a news conference in Ottawa November 26, 2012. Carney will take over the reins as Governor of the Bank of England next year, British finance minister George Osborne told parliament on Monday, announcing a surprise choice to replace outgoing Bank of England Governor Mervyn King. REUTERS/Chris Wattie

REUTERS/Chris Wattie

25 January 2013

Hundreds of banks across the eurozone are set to repay €137.2 billion (£115.6 billion) of the €1 trillion in emergency ultra-cheap three-year loans handed out the European Central Bank in December 2011 and March last year to avert a major credit crunch.

The ECB said 278 banks will return the funds next week in a sign of easing conditions in the European banking system. The level of repayment was higher than the €100 billion forecasted by analysts.

Canada’s looking for another Carney

Canada wants someone “like Mark Carney” to replace him when he becomes Governor of the Bank of England in June, the country’s finance minister said today. Jim Flaherty, who will conduct interviews for the top monetary policy job, said he expected to make a decision “probably in April”. Unlike the UK, Canada restricts the appointment of its central bank governor to Canadian citizens.

Christies sells Nine Elms warehouse

Auction house Christies has sold off its 2.7-acre site in Wandsworth in a deal paving the way for further development in the Nine Elms regeneration zone. The warehouse, next to the site of the new American Embassy, is expected to be transformed into housing, forming part of the overhaul of the area planned to deliver up to 16,000 new homes and 25,000 jobs. The buyer is Derbyshire-based property firm Clowes Developments.