Ukraine to get up to $27bn from international bailout March 28, 2014 UKRAINE is set to receive financial aid of between $14bn (£8.4bn) and $18bn from the International Monetary Fund (IMF), as the world body laid out the vast economic challenges facing the country. The amount announced yesterday is lower than the $15bn-$20bn the interim government of Ukraine had asked for, but higher than the flat $15bn [...]
Miliband: We’re the party for small business March 28, 2014 ED MILIBAND is set to rebrand Labour as the party for small business, signalling an ideological shift ahead of the general election in 2015. Speaking at a Federation of Small Business conference in Manchester today, the Labour leader will position his party as the backer of those who work for themselves, adding that an economy [...]
Industry slams government’s pension fee cap March 28, 2014 THE INSURANCE industry has spoken out against the introduction of a cap on fees that pension providers can charge, warning it will squeeze providers at a time when they are being asked to stump up extra cash. Pensions minister Steve Webb announced the cap will be set at 0.75 per cent for those in auto-enrolment [...]
What the other papers say this morning – 28 March 2014 March 28, 2014 FINANCIAL TIMES Facebook works on drones and lasers Facebook is working on drones, satellites and lasers to deliver the internet to far flung corners of the world, in its second big bet on future technology in a week. Mark Zuckerberg, Facebook founder and chief executive, said yesterday that the company is working with leading experts [...]
Carney ready to clamp down on housing bubble March 28, 2014 TOUGHER lending criteria could be in place as soon as June if a housing bubble emerges, the Bank of England’s financial policy committee (FPC) said yesterday. The panel, led by Mark Carney, does not believe a bubble is inflating, but wants to reassure markets it will nip any emerging risks in the bud. From next [...]
Morrisons boss gives up £374,000 bonus March 28, 2014 DALTON Philips, the chief executive of Morrisons, has waived his £374,000 bonus after Britain’s fourth biggest grocer posted its lowest profit for five years following a dismal year. Philips has told the remuneration committee that he will not take up the cash and share bonus a spokesperson confirmed yesterday. Philips has been under pressure to [...]
Legal aid deal halts barrister strike action March 28, 2014 CRIMINAL barristers yesterday called off further strike action after the Ministry of Justice postponed changes to legal aid that would have slashed their fees. The Criminal Bar Association welcomed the decision to suspend legal aid fee changes until at least summer 2015 and said it will work with justice secretary Chris Grayling on the reforms.
Exports and investment hike US growth estimate for end of 2013 March 28, 2014 THE US economy grew at a slightly faster pace than previously suggested at the end of 2013, rising at a 2.6 per cent annualised rate in the fourth quarter, instead of the 2.4 per cent previously expected. The rate is down from the third quarter’s 4.1 per cent, but exports grew by 9.5 per cent [...]
Amazon eyes streaming TV service March 28, 2014 AMAZON’S chief executive Jeff Bezos could launch an ad-supported streaming TV service as early as next week. Amazon is likely to stream original, self-produced TV series and perhaps licensed programming for free to viewers, according to the Wall Street Journal. In response, Amazon last night said: “We’re often experimenting with new things.”
Stress test fail puts RBS sale of Citizens at risk March 28, 2014 HOPES of an early sale for RBS’s US arm Citizens were knocked yesterday after it failed the Fed’s stress tests. Although the main plan is to float the bank, starting later this year, RBS has been in early-stage talks with other banks including Japan’s Sumitomo Mitsui over a trade sale. But failing the stress test [...]