Pfizer gives legally binding commitment over R&D jobs May 12, 2014 US drugs giant Pfizer has released the 23 point statement it will present to MPs tomorrow. Pfizer will appear before the Business, Innovation and Skills committee to answer questions about the company's potential takeover of Astrazeneca. Pfizer has restated several commitments it has given to the UK government, including promises to maintain 20 per cent [...]
Brussels committee unveils five-year plan to save the EU May 12, 2014 The European Economic and Social Committee (EESC) has unveiled its plan to rescue the European Union. The EESC's Action Plan for Europe – Five years to save the Union, is nothing but ambitious in its goals. With just 31 per cent of European citizens saying they have trust in the EU, the EESC certainly has [...]
Here’s what Morgan Stanley thinks ECB QE might look like May 12, 2014 It's clear that the European Central Bank knows it has a disinflationary problem. Today, a global investor poll conducted by Bloomberg finds that 74 per cent of participants see deflation as a greater risk to the region than inflation. While headline Eurozone inflation remains positive, that aggregate measure masks the member states already suffering from [...]
City vacancies jump 67pc but financial transaction tax trauma looms May 12, 2014 Vacancies in London’s financial services companies leapt 67 per cent last month, as employers looked for workers to manage increasing compliance demands from regulators, according to recruitment consultancy Morgan McKinley. 8,955 jobs were advertised in the City and across the capital. In April 2013, the figures stood at 5,355. 41 per cent more people are [...]
What you need to know before the open May 12, 2014 European markets are set to open lower this morning, following Asian counterparts, as investors await with caution for events in Ukraine to unfold. Yesterday, anti-Kiev rebels declared victory in a referendum on self-rule in eastern Ukraine. Western leaders are threatening further sanctions around energy and the financial services, if Moscow moves to disrupt the planned [...]
Political uncertainty “main issue” for British firms, says CBI’s Cridland May 12, 2014 The main issue on the horizon for British companies today is the degree of political uncertainty they face, the director general of the Confederation of British Industry (CBI) John Cridland has this morning. Speaking on Radio 4’s Today programme, Cridland stressed that politicians must focus on pro-enterprise policies, as it’s business that creates jobs and [...]
Network Rail unveils preferred bidders for track renewals May 12, 2014 Network Rail has announced its preferred bidders for conventional track renewals and improvement work for the period 2014-19. Babcock International has won work over three of the seven geographic lots to deliver plain line tracks for Network Rail. The lots are made up of Western, Wales and Wessex; Scotland and LNW South, which are worth [...]
Asian markets wary after east Ukraine vote May 12, 2014 Asian shares outside of Japan are on the rise as investors drew hope from the possibility of the Chinese government taking further action to boost the economy. Last week, President Xi Jinping said the world's second largest economy needed to readjust to a "new normal". Restrictions on foreign investment in listed Chinese companies have been [...]
Hawks circle as economy booms May 11, 2014 THE BANK of England is facing growing pressure to reconsider its cheap money policies after another set of business surveys will today point to strong growth across the economy. The Confederation of British Industry (CBI) said this morning it now sees the economy growing by three per cent this year, up from its forecast of [...]
Cameron softens tone on Pfizer deal as boss flies in May 11, 2014 PRIME MINISTER David Cameron has signalled a softening of the government’s position over the Astrazeneca Pfizer takeover bid, warning against putting undue pressure on the deal. In an interview yesterday, Cameron said the government has made “very good progress” on guarantees that jobs would remain in the UK if the deal went ahead, adding that [...]