Treasury says deficit is still main priority May 31, 2010 THE Treasury yesterday insisted it would not be distracted from reducing the deficit, despite the shock resignation of its second most-important minister just seventeen days after his appointment. Liberal Democrat David Laws resigned on Saturday night after it was revealed he had claimed £40,000 in parliamentary expenses to rent a room from his partner. Commons [...]
What do you think about a hike in CGT? May 31, 2010 Let us know what you think about the trouble at the?Treasury by joining our unique panel at www.cityam.com/panel before 12pm and answering these questions: 1) The government is planning an increase in capital gains tax, bringing in rates similar or near to income tax. How far do you agree or disagree with this policy? 2) [...]
Unite warns BA of strikes over summer May 31, 2010 UNITE, the union representing British Airways (BA) cabin crew, is preparing a new strike ballot that could see the airline’s operations disrupted during the all-important summer holiday period. Speaking yesterday at the union’s conference in Manchester, joint general secretary Tony Woodley warned that BA chief executive Willie Walsh’s “hard-man stance” on refusing to reinstate cabin [...]
EasyJet to launch volcano claims suit May 31, 2010 BUDGET airline easyJet is planning to launch a class action lawsuit to claim compensation for lost revenue during the Europe-wide flight ban. EasyJet, which lost up to £75m during last month’s closure of European airspace is hoping to group together with a number of airlines to make a legal claim. Chief executive Andy Harrison said [...]
Ryanair set to post better profits but ash cloud drags May 31, 2010 BUDGET airline Ryanair is expected to report net profits of up to €315m (£266.2m) today when it delivers its full year results. Analysts are forecasting that the Irish-based carrier will deliver profits of more than €310m for the year ending 31 March, which will be roughly in line with the company’s expectations. Ryanair upped its [...]
BP shares set to fall after plug bid fails May 31, 2010 SHARES in BP are expected to plummet today as news of the failed “top kill” attempt to stem the leak of oil into the Gulf of Mexico hits the UK and US markets when they re-open after the long weekend. Analysts predict that should the markets remain stable, it is likely that BP shares will [...]
Energy giant hit by more fuel trader departures May 31, 2010 THE HEAD of BP’s fuel oil trading team has quit the oil giant in the same month that a number of US traders also left the company. The resignations from BP’s fuel oil team included the departure of three traders from its US office, including the team leader, and the head trader in London. The [...]
Spill could hurt the Democrats May 31, 2010 THE GULF of Mexico oil spill could damage the Democratic Party’s electoral chances in November’s mid-term Congressional elections, after Barack Obama’s handling of the crisis was widely criticised. Late last week Obama denied claims that BP had shown more initiative than the government in regard to the spill. And he said it was “not true” [...]
Europe stocks hold steady in spite of Spain May 31, 2010 EUROPEAN equities held their own yesterday despite fears that a key downgrade of Spain’s sovereign debt before the weekend would weigh heavily on the markets. The FTSE Eurofirst 300 index of top European shares closed up 0.3 per cent at 1,000.55 points, ending its worst-performing month since February last year, while the euro recouped losses [...]
Eurozone confidence falls as debt worries start to spread May 31, 2010 LINGERING hopes that the EU sovereign debt crisis had not yet begun to affect the real economy were blown out of the water yesterday, as the eurozone economic sentiment monitor recorded an abrupt fall in May. Economic sentiment in the 16-country Eurozone area fell to 98.4 in May, down from 100.6 in April and below [...]