THE government yesterday tried to soothe fears over the biggest spending cuts in a generation, after the chancellor asked departments to draw up plans to slash their budgets by a staggering 40 per cent.
A STRONG set of first-quarter figures from retail bellwether Marks and Spencer this week looks set to be overshadowed by animosity at the firm’s annual shareholder meeting, with investors set to clash with executives over the eternally thorny issu
FRENCH finance minister Christine Lagarde confirmed yesterday that the results of stress tests on European banks will be published on 23 July, in an attempt to boost confidence in the sector’s ability to weather further economic and regulatory sho
EUROPEAN Central Bank president Jean-Claude Trichet yesterday moved to quell concerns that Europe is facing another period of recession and renewed his support for reforms and deficit cuts to boost confidence.
CONFIDENCE among City finance chiefs began to wane again over the second quarter of the year as market volatility, global fiscal tightening measures and the sovereign debt crisis weighed heavily on sentiment.
MARKET experts at the weekend issued dire warnings of a further downward trend in the FTSE, which was hammered last week on the back of a slew of weak economic data and continuing worries over fiscal tightening and the eurozone debt crisis.
GOLDMAN Sachs chief economist Jim O’Neill has waded into the debate over the depth and breadth of austerity measures being implemented across the globe, warning large nations cutting back simultaneously could derail the recovery.
THE INSTITUTIONAL Shareholders Committee (ISC) has launched a consultation for its formal inquiry into rights issue fees, which it said would be complementary to a similar investigation announced by the Office of Fair Trading (OFT) last month.
MARK Thompson, the director general of the BBC, fired a warning shot to the government and the BBC Trust yesterday, insisting it would be “damaging and destructive” to publish the salaries of the corporation’s top stars.
US billionaire Warren Buffett has pledged to give away 99 per cent of his wealth – around $1.93bn (£1.27bn) in shares of his company Berkshire Hathaway – to five charitable groups, financial filings showed.
TENSIONS are growing within the Bank of England’s Monetary Policy Committee (MPC) but they are not yet sufficient to cause a hike in interest rates from the current level of 0.5 per cent, economists say.
BLACKSTONE-BACKED restaurant owner Tragus is eyeing a takeover bid for industry rival Paramount Restaurants.
The Cafe Rouge, Bella Italia and Strada owner is in discussions over a bid for Paramount that could value the firm at £50m.
AS WE enter the first full trading week of the second half of the year, the markets remain in a foul mood. Bad news suggesting that the economic recovery has stalled invariably leads to daily sell offs while good news is ignored.
GOLDMAN Sach’s private equity wing is close to completing the purchase of nappy-manufacturer Ontex in partnership with American buy-out house TPG for more than €1.2bn (£990m), reports the Sunday Telegraph.
The latest "Twilight" movie sailed past the $100m ( £65.8m) mark during its third day at the North American box office, and was forecast to approach a record-breaking $200m by the end of the US Independence Day holiday weekend, according
WITH a tan topped up over the weekend by a stay on a Greek island and his TV don’s hair – which looks like a tame version of Melvyn Bragg’s – a crisp white shirt, relaxed manner and a gentle Scottish accent, Niall Ferguson is without doubt a smoot