GEORGE Osborne yesterday said he would lower the headline rate of corporation tax, but bowed to pressure from his Liberal Democrat coalition partners and promised to protect manufacturing allowances.
ANGELA Merkel has no clue about economics. Her silly decision to slap various restrictions on short-sellers, even though shooting the messenger in this way never works, triggered pandemonium in the markets.
IN A setback for the Obama administration, Senate Democrats failed to muster enough votes last night to end debate on the biggest overhaul of financial regulation since the 1930s, delaying a vote on its passage.
JUST as the iPod has transformed the music industry, inter-dealer broking is being revolutionised by new technologies. That’s good news for Icap, which has invested much more in electronic broking platforms than rivals like Tullett Prebon.
CREDIT Agricole’s board approved the nomination of Jean-Marie Sander as its chairman yesterday, a last key appointment in the French bank’s management overhaul as it seeks to turn the page on the financial crisis.
CREDIT information group Experian yesterday launched a $300m share buy-back programme and hiked its dividend in order to return cash to shareholders, after the group pointed to a modest recovery in its operating environment.
PROPERTY investor Hansteen Holdings said yesterday it had started to benefit from the casualties of the weak property market over the first half of the year, during which it acquired over £350m worth of assets to add to its portfolio.
EUROPEAN Union finance ministers will discuss Germany’s short-selling ban and coordination of such market-moving decisions in the EU on Friday, European Union president Herman Van Rompuy said yesterday.
GREECE’S central bank yesterday dismissed accusations by backbench parliamentarians that it made it easier for speculators to sell short Greek government bonds, helping to deepen the country’s debt crisis.
MEIK FRIEDRICH | PROTECTION RE
“The bailout package is sufficient enough to save Europe and so the crisis won’t have much of an impact on the UK. The important thing now for the UK government is to concentrate on the Budget.”
US consumer prices unexpectedly fell in April, the first decline in a year, and the core annual rate recorded its smallest gain since 1966, suggesting scope for the Federal Reserve to keep interest rates near zero for some time.
SCOTTISH & Southern Energy (SSE) yesterday said the demand environment remained tough and it would delay building a power plant in Wales, as it met expectations with a three per cent rise in full-year profit.