Intertek sees mixed growth as US and European markets wane March 19, 2014 Intertek, the London-based inspection, testing and certification firm, has posted what chief executive Wolfhart Hauser has called a mixed set of results for 2013, with growth varying across its markets. The group saw a nine per cent increase in profit before income tax to £281.8m in 2013, with revenue rising almost six per cent to [...]
Smiths Group faces challenge in healthcare markets as profits drop March 19, 2014 Global technology company Smiths Group has reported a fall in pre-tax profit of four per cent to £215m for the six months to 31 January. Revenue fell by two per cent to £1.4bn while the company's dividend rose two per cent to 12.75p. Smiths said that its strength in commercial markets had been offset by challenges [...]
Budget: Political artist Kaya Mar gives us a sneak preview of his latest work March 19, 2014 AS USUAL, all eyes will be on the House of Commons today for George Osborne’s Budget. But there’s a new tradition emerging that might draw the crowds outside parliament too. Artist Kaya Mar has become a regular fixture outside both Downing Street and Westminster during the Budget, showing off his politically inspired portraits. He has kindly [...]
Asian markets calm ahead of Fed policy review March 19, 2014 Asian markets are having an indecisive day ahead of the Federal Reserve's policy review. Investors are keeping a close eye on the Ukraine situation but tensions appear to have cooled for the time being after Vladimir Putin's comments that Russia did not intend to annexe any other parts of Ukraine. However, Western leaders have promised [...]
All change at the Bank March 18, 2014 DIFFERENT units across the Bank of England will be forced to work together rather than fighting their own corners, Mark Carney said last night, unveiling a radical array of reforms. The governor and the Treasury made a series of major hires, including new deputy governor Nemat Shafik, to cope with the hugely expanded powers to [...]
Osborne: Wave goodbye to the old pound coin March 18, 2014 THE CHANCELLOR George Osborne will announce a historic change to UK currency in his Budget today: a new pound coin. The new pound will have 12-sides and is modelled on the old threepenny bit. It will be composed of two different coloured metals, like the £2 coin, and feature the Queen’s head on one side [...]
Stocks rally after Putin speech despite Crimea tensions March 18, 2014 RUSSIAN markets rallied after a speech by President Vladimir Putin yesterday, bouncing back as he signalled an end to military aggression in Ukrainian territories. Putin signed a draft bill in Russia’s parliament to officially annex Crimea, saying that the peninsula was an integral part of Russia, but that he had no desire to further divide [...]
Budget 2014: What to watch out for today March 18, 2014 WHO: GEORGE OSBORNEWHEN: 12.30PM TODAYWHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOWA facelift for the pound coinOsborne will announce plans to give the £1 coin a facelift in his Budget today. This will see a new two-coloured 12-sided coin introduced in 2017 after a consultation. Help to buy extended to 2020The equity loan scheme set up to [...]
What the other papers say this morning – 19 March 2014 March 18, 2014 FINANCIAL TIMES Labour pledges power to Scotland The Labour party has pledged more powers for Scotland in an attempt to bolster pro-union support six months before September’s referendum on independence. The prospects for devolution have become a battleground between pro-union campaigners and nationalists who argue that only independence would let Scotland decide its economic destiny. [...]
EU tries to stop banks swerving bonus cap rules March 18, 2014 THE EUROPEAN Union banking regulator is preparing to clamp down on a system of allowances, paid to bankers to get around tight new bonus rules. Michel Barnier, the EU financial services commissioner, said banks that pay employees monthly allowances in order to boost their take-home pay without directly contravening the bonus cap will be examined by [...]