Eurozone deficits shrinking but public debt continues to mount April 23, 2014 PUBLIC deficits in the Eurozone fell to three per cent of GDP in 2013, hitting the level that individual member states must aim for under the bloc’s rules. Official figures released yesterday show that on average, the countries’ deficits dropped from 3.7 per cent of GDP in 2012, while total public debt rose to the [...]
France outlines slow road to recovery April 23, 2014 FRANCE revealed a slower roadmap yesterday to reduce its chronic deficit to the EU treaty limit next year, based on growth assumptions described by the High Council of Public Finances, an independent watchdog, as risky. President Francois Hollande (right) and Prime Minister Manuel Valls (left) want to kick-start growth in the struggling economy.
The Cleggs show their cojones April 23, 2014 WHEN Nick Clegg showed up to KPMG for the launch of Cityfathers yesterday, he presumably hoped he’d escape difficult questions. But having spoken about the importance of fathers taking paternity leave, the first question from the hall was relating to Cameron’s Christian country comments. “Ah here we go,” he said exasperated. One of the next [...]
Actor Damian Lewis back in his Homeland April 23, 2014 HOMELAND fans passing the Guildhall yesterday were in for a treat – actor Damian Lewis had stopped by to read a handful of Shakespeare’s sonnets in celebration of the bard’s 450th birthday. The actor revealed his day out in the City certainly wasn’t his first: “My sister was married in the Guildhall church, my mum’s [...]
Luke Johnson’s chain Patisserie Valerie to float April 23, 2014 ENTREPRENEUR Luke Johnson is making a return to the public markets for the first time in over 20 years with the £170m flotation of his cafe chain Patisserie Holdings. The group, which runs five brands including Patisserie Valerie, Philpotts and Baker & Spice, said yesterday it plans to raise £33m of new capital on Aim [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]
Hungryhouse serves up £50m fundraising April 23, 2014 THE OWNER of online food delivery company Hungryhouse has raised $85m (£50.5m) of new funding to help it compete with recently floated rival Just Eat. Delivery Hero said yesterday it will use the funds to strengthen Hungryhouse’s position in the UK and invest in Lieferheld, its sister site in Germany. The funds came from a [...]
The fight for Europe is on Clegg tells Farage after Ukip poll win April 23, 2014 LIBERAL Democrat leader Nick Clegg is taking the fight over membership of the European Union to Nigel Farage, warning the electorate against voting for Ukip next month. Launching his party’s manifesto for the EU elections in Colchester today, Clegg is set to say that his party is the only one calling for the UK to [...]
Drax plummets as government pulls subsidies April 23, 2014 DRAX Group made the biggest losses on the FTSE 250 yesterday, after launching legal proceedings against the government’s decision to exclude one of its units from a new green support framework. Britain’s largest coal-fired power station operator Drax expected to be eligible for early contracts for difference (CfD) mechanisms, so that it could convert its [...]
Pickles paves the way for mid height housing blocks in London April 23, 2014 COMMUNITIES secretary Eric Pickles has announced plans that could see more mid-rise housing blocks built in central London, to tackle overcrowding in the capital. Announcing a new £50m fund to unlock stalled development across the country, Pickles said some of the money would be directed towards regenerating London’s tired housing estates. “Past experience tells us [...]