Pay reforms will go ahead September 5, 2010 CHANCELLOR George Osborne yesterday struck back at claims he is preparing to scrap plans to increase transparency over bank pay, insisting that the government remains “fully committed” to the proposals put forward last year by Sir David Walker. Under Walker’s proposed reforms, UK banks will have to reveal intricate details of pay structures, including how [...]
Irresponsible strikes will hit London September 5, 2010 BARRING a last-minute reprieve, commuters will be subjected to much chaos from 5pm tonight as Underground workers go on strike. Tomorrow will be especially tough. This strike is irresponsible. It is being caused by selfish militants who cannot face losing some of their privileges at a time when everybody else in Britain is being forced [...]
John Lewis’ sales improve September 5, 2010 RETAIL giant John Lewis is poised to post a strong set of financial results later this month as the department store chain returns to profitability. The group’s half-year results, which will be reported on 16 September, are likely to show that the company has made its way back to pre-recessionary levels after sales through out [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 5, 2010 THE SUNDAYS The Sunday Telegraph NATIONAL GRID IN $26M US INQUIRY National Grid is facing an investigation by United States regulators over allegations it is trying to charge more than $26m in excessive costs to American consumers, including management expenses for private school tuition fees and the transatlantic shipment of a wine collection. The claims [...]
City Financial unveils Asia fund September 5, 2010 British fund management firm City Financial will today launch an Asian fund of hedge funds in a move designed to tap into the rapid development of the hedge fund industry in the region. The City Financial Asian Absolute Growth Fund, a fund of hedge funds primarily targeting institutional investors, is aimed at capitalising “on the [...]
GSK suffers Avandia UK blow September 5, 2010 GlaxoSmithKline’s diabetes drug Avandia should be pulled from sale because of concerns about heart risks, British drug regulators will today say ahead of a special European meeting on the drug’s safety. The strong line from safety experts in the drugmaker’s home market is a fresh blow to a medicine that was once Glaxo’s second biggest [...]
IMF’s Lipsky says recovery is under way September 5, 2010 THE world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF’s first managing director, John Lipsky, said yesterday. “They are mainly confident that there is a moderate recovery underway globally,” he told reporters, referring to delegates at the G20 meeting of deputy finance and central bank [...]
Sanofi could raise Genzyme bid if firms open negotiations September 5, 2010 FRENCH pharmaceuticals giant Sanofi-Aventis would be prepared to moderately raise its $69-per-share (£44.7) offer for Genzyme if the US biotech firm agreed to enter negotiations, it emerged yesterday. It is understood that the Sanofi board has agreed that in principle the offer could be raised, but is waiting on a signal from Genzyme that the [...]
Britain’s manufacturers report boom in demands from Europe September 5, 2010 BRITAIN’S manufacturers are celebrating from a continual rise in export demand from overseas markets, according to new research. A quarterly survey conducted by accountants BDO and manufacturers organisation EEF, shows that over the past three months, output for British manufacturers in the third quarter of the year was up 33 per cent, while new order [...]
BA boss eyes fresh round of merger deals September 5, 2010 BRITISH AIRWAYS chief executive Willie Walsh has drawn up a hit list of a dozen companies he wants to buy after he has sealed his merger with Iberia and American Airlines in a bid to become the biggest airline group in the world. Walsh said: “The mergers with Iberia and American were never meant to [...]