Qinetiq’s new boss promises big shake-up April 11, 2010 LEO Quinn, the new chief executive of Qinetiq, will announce radical new plans next month to turn around the fortunes of the struggling British defence technology firm. Quinn is in the process of finalising his restructuring programme, which will include slashing redundancy terms for thousands of the company’s UK employees. Union representatives have been told [...]
Quinn has a second chance April 11, 2010 LIKE BT Group, the former state-owned telecoms firm, Qinetiq has struggled to shake off its public sector ethos since it was privatised in 2003. It has a remarkably impressive history; starting life as the Defence Evaluation and Research Agency (Dera), its scientists invented the liquid crystal display and carbon fibre. But a prohibitively expensive cost [...]
UK exports up but number of companies falls April 11, 2010 THE NUMBER of British companies exporting goods fell slightly during the fourth quarter of last year according to government data. During the fourth quarter of 2009, 1,764 UK companies exported goods, marking a 3.4 per cent decline on the same period last year. After analysing data provided by the government, Close Treasury – a subsidiary [...]
City sceptics maul Tory bank tax plans April 11, 2010 SENIOR City figures yesterday warned that Tory leader David Cameron’s proposals to raise over £1bn from a levy on the banks would prove to be a further drag on the competitiveness of the City on the global stage. The Conservatives, who are due to outline the bank tax in their party manifesto tomorrow, plan to [...]
Labour and Tories set out their stalls ahead of election April 11, 2010 LABOUR will promise not to increase income tax when it releases its manifesto today, but the party will offer no such guarantees on VAT. Energy secretary Ed Miliband, who authored the document, said there would be no “big spending commitments” in light of the country’s huge £170bn budget deficit. However, Labour’s manifesto will contain: • [...]
Should the married get tax breaks? April 11, 2010 THE CONSERVATIVE Party appears to be regaining its lead in the opinion polls, but we want to know what you think of two landmark policies. Existing panellists will be sent a survey this morning, while readers who wish to join the panel can apply online at www.cityam.com before 12pm. THE TORIES ARE PLANNING TO GIVE TAX BREAKS [...]
ELECTION2010 April 11, 2010 Labour slammed over leaflets The Labour party faced a wave of criticism yesterday after using private data to mailshot thousands of cancer survivors to take a swipe at the Tories. They suggested the Tories will scrap a Labour policy of guaranteeing that suspected breast cancer cases will be seen by a specialist within two weeks. [...]
The defender of feminism who is taking on the City April 11, 2010 EVEN before parliament was dissolved last week, there was a strange end-of-an-era feeling hanging over the House of Commons. More than 150 MPs are standing down, many of them discredited by the expenses scandal, while a tired Labour government is limping towards the end of its third term with little in the way of new [...]
Oil price rises as economies spring to life April 11, 2010 THE price of oil has been on the march again as demand rises on the back of global economic recovery – but experts have predicted that the price should stabilise after reaching the top end of expectations. Positive economic data from the US last week saw the price of crude oil rise above $86 a [...]
ANALYST VIEWS WHAT’S NEXT FOR THE OIL MARKET? April 11, 2010 IVOR PETHER | ROYAL LONDON ASSET MANAGEMENT “The recent rise in the oil price is intriguing as there has also been a flattening of the forward curve – the spot price is up from $75 to $85 over the last couple of months, while prices for delivery several years out have fallen from $90 to [...]