JOB GLOOM FOR CLASS OF 2009 July 15, 2009 BRITAIN’S unemployment rate has surged to a 12-year high, with young adults aged 18-24 particularly badly affected, official data showed yesterday. The news confirms growing fears that unemployment will continue to rise for many months, even though the economy and the banking systems have stabilised. Figures from the Office for National Statistics (ONS) showed that [...]
Strong gains on markets July 15, 2009 MARKETS on both sides of the Atlantic rose strongly yesterday on the back of healthy corporate results and improving US economic data. The FTSE 100 closed up 2.6 per cent at 4,346.46 led by mining and financial shares, its biggest jump since 24 April. In the US the Dow climbed 3.1 per cent to 8,616.21, [...]
Strong gains on markets July 15, 2009 MARKETS on both sides of the Atlantic rose strongly yesterday on the back of healthy corporate results and improving US economic data. The FTSE 100 closed up 2.6 per cent at 4,346.46 led by mining and financial shares, its biggest jump since 24 April. In the US the Dow climbed 3.1 per cent to 8,616.21, [...]
Oversight for US hedgies July 15, 2009 PRESIDENT Obama’s administration sent legislation to Congress yesterday to bring hedge funds under government supervision. The Securities and Exchange Commission (SEC) would oversee hedge funds, private equity and venture capital funds. It would have the power to open their books and they would be subject to fuller disclosure.
Oversight for US hedgies July 15, 2009 PRESIDENT Obama’s administration sent legislation to Congress yesterday to bring hedge funds under government supervision. The Securities and Exchange Commission (SEC) would oversee hedge funds, private equity and venture capital funds. It would have the power to open their books and they would be subject to fuller disclosure.
Rio Tinto in China strife July 15, 2009 RIO Tinto, the world’s second-largest iron-ore producer led by Tom Albanese, has been accused of mass bribery by an official Chinese newspaper, as the row over arrested executives from the firm continues to mount. The state-owned China Daily paper said Rio has bribed all of China’s 16 major steelmakers, and threatened to cut them out [...]
Rio Tinto in China strife July 15, 2009 RIO Tinto, the world’s second-largest iron-ore producer led by Tom Albanese, has been accused of mass bribery by an official Chinese newspaper, as the row over arrested executives from the firm continues to mount. The state-owned China Daily paper said Rio has bribed all of China’s 16 major steelmakers, and threatened to cut them out [...]
Unemployment inflicting huge toll on UK July 15, 2009 EVEN though the economy has now stabilised, the recession’s terrible human cost keeps on rising. Yesterday’s jobless data was horrific; younger people are being hit especially hard. Jobless numbers jumped by 281,000 to 2.38m in the three months to May, the largest quarterly rise since 1971; 7.6 per cent of the workforce is now officially [...]
Unemployment inflicting huge toll on UK July 15, 2009 EVEN though the economy has now stabilised, the recession’s terrible human cost keeps on rising. Yesterday’s jobless data was horrific; younger people are being hit especially hard. Jobless numbers jumped by 281,000 to 2.38m in the three months to May, the largest quarterly rise since 1971; 7.6 per cent of the workforce is now officially [...]
UK energy bills will soar July 15, 2009 THE UK’s energy bills could rise by 17 per cent over the next decade as a result of government plans announced yesterday to generate one third of the country’s electricity from renewables by 2020. Energy secretary Ed Miliband presented a white paper setting out the government’s plans to also cut carbon dioxide emissions by 34 [...]