PRIVATE JET PROFITS TAKE OFF October 12, 2010 PRIVATE aircraft broker Air Partner has posted before tax profits of £3.5m for the year ending 30 July 2010, putting the figure ahead of market expectations of £3m. The group, said it is fully committed to its broking business, which has remained profitable through the recession. Air Partner said that it has completely closed its [...]
Google in wind farm venture October 12, 2010 Google has thrown its financial clout behind an ambitious $5bn (£3.16bn) proposed electric transmission line intended to spark investment in new wind farms off the heavily populated US East Coast. The move, which comes at a time when about a dozen wind projects have been proposed off the eastern United States but none have been [...]
PM GIVES GREEN LIGHT TO MORE QE October 11, 2010 DAVID Cameron yesterday insisted the government would not delay spending cuts if the recovery starts to slow, but gave his strongest hint yet that he would support another round of quantitative easing. Describing himself as a “fiscal conservative but a monetary activist”, the Prime Minister used his first official press conference to play down suggestions [...]
Tuition fee cap is set to be axed October 11, 2010 THE cap on university tuition fees should be abolished but graduates should be spared from having to repay them until they earn a minimum of £21,000 a year. These are the key recommendations that will be put forward by Lord Browne, the former BP chief executive, in his much-anticipated report into the funding of higher [...]
Key BBC exec gets the chop October 11, 2010 BBC deputy director general Mark Byford is to be made redundant and will leave the corporation in March 2011 as the broadcaster tries to address criticisms that it has become bloated and pays excessive salaries to its senior executives. Byford is understood to be the first casualty of the review of the corporation’s management structure, [...]
Meddling with forex markets is risky October 11, 2010 ONE of the biggest problems in the City today is that so few people have worked in financial markets long enough to remember how things used to be just 25 years ago. This damaging lack of a collective memory helps to explain why so many investors remain so relaxed about the prospect of currency wars [...]
Cable under Sky pressure October 11, 2010 MEDIA giants yesterday united against Rupert Murdoch’s plans to buy BSkyB in an £8bn deal. DMGT’s Associated Newspapers, the Telegraph Media Group, Trinity Mirror and Guardian Media Group wrote a joint letter urging business secretary Vince Cable to intervene in the deal. The BBC, Channel 4 and BT also signed the letter. They argue the [...]
Fed vice chair warns of bubbles October 11, 2010 Low interest rates can contribute to financial bubbles even if they are not a primary culprit, Janet Yellen said in her first speech as vice chair of the US Federal Reserve. At a time of growing concern about the international repercussions of another possible round of monetary easing by the US central bank, Yellen’s comments [...]
London bombing inquest begins October 11, 2010 The London suicide attacks of 7July 2005 might have been planned for the previous day and the bombers were prepared to fight police and throw improvised bombs at them, the victims’ inquests were told yesterday. The first day of the inquests into deaths of the 52 people heard that the victims had been killed in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 11, 2010 FINANCIAL TIMES BLOW TO BANK CRISIS PLANS Regulators are struggling to create a global mechanism that could wind down a big financial institution without the disruption caused by Lehman Brothers’ collapse in 2008. The US is due to propose its own “resolution” regime. But policymakers attendingmeetings around the Internationa Monetary Fund have criticised the regime [...]