May eyes tight cargo rules October 31, 2010 HOME Secretary Theresa May yesterday said security around all international air cargo arriving in Britain was being reviewed after a bomb sent from Yemen was found aboard an aircraft at East Midlands airport. However, acknowledging the massive economic and financial implications of much tighter international air cargo security rules, May stopped short of saying a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 31, 2010 THE SUNDAYS The Sunday Telegraph MAUDE DEMANDS SERCO ANSWER Serco is to be ordered to explain to the government why it took the highly unusual step of writing to its leading suppliers to demand that they pay a blanket 2.5 per cent “cash rebate” on their work this year or risk losing future contracts. Serco, [...]
Democrats brace for beating October 31, 2010 The Republican Party is forecast to clear out the Democratic majority in the US House of Representatives during midterm elections tomorrow, with a “tsunami” of Republican support to sweep out a dozen senior Democrats in the south. However, the Senate is expected to remain in Democratic hands, providing some relief for President Barack Obama. It [...]
Apple sues Motorola October 31, 2010 Apple yesterday launched legal action against rival Motorola, claiming the Droid smartphone maker infringes on three iPhone patents. Cupertino, California-based Apple says Motorola is purposefully using its touchscreen software, as well as other display technologies. The suit comes after Motorola sued Apple in Delaware court earlier this month, asking a judge to declare it is [...]
BHP fights for a Potash deal October 31, 2010 BHP BILLITON faces a crucial week in its fight to buy Potash Corp, with the Canadian government and US courts deciding whether to allow its $39bn (£24.7bn) hostile offer to proceed. Potash attempted to goad BHP into raising its $130 a share bid at the weekend in a Canadian court filing, claiming it was “very [...]
Majority of directors at private firms took a pay cut last year October 31, 2010 THE majority of directors at privately-held firms took a real-terms pay cut in 2010, contradicting perceptions that boardroom remuneration is on the rise, new research published today shows. The report by the Institute of Directors (IoD), which covers non-listed large companies and SMEs, found that 46 per cent of company executives either took a pay [...]
FTSE announces rule change for UK listing of foreign companies October 31, 2010 FTSE has introduced new rules for foreign companies planning to list on its major indices, which are intended to simplify the current rules and protect City Investors. The rule change, announced through a nationality practice note, means foreign companies will have to sell at least 50 per cent of their shares in London, where previously [...]
Lloyds to vet headhunters October 31, 2010 LLOYDS Banking Group is set to hold a “beauty parade” for headhunters in the next couple of weeks, as preparations get underway to appoint a successor to chief executive Eric Daniels. Lloyds – which is expected to confirm to the market that it remains on track to deliver a profit for the full year at [...]
Metro Bank taps investors for £45m to speed up expansion October 31, 2010 METRO Bank, the first start-up banking venture to hit the UK in over a century, is planning to tap its investors for £45m in fresh funding in order to double the rate at which it opens new stores. Metro now plans to open eight stores within the first year and 10, possibly more, in its [...]
Lloyds October 31, 2010 THE market isn’t expecting any nasty surprises from Lloyds when it reports third quarter numbers tomorrow. Its net interest margin, which was at 2.08 per cent in the first half, should improve modestly, as Lloyds reprices the front and back of its mortgage and loan books. However, the momentum is beginning to falter: there’s only [...]