Why the devil is always in the detail March 24, 2010 YOU must hand it to Alistair Darling: to have to unveil a budget deficit of 11.8 per cent of GDP, roughly the same as Greece’s, would have destroyed a lesser politician. The fact that he was able to portray such an abysmal outcome as a triumph is the final proof that contemporary Britain is now [...]
Darling aims for harmony on bank tax March 24, 2010 CHANCELLOR Alistair Darling yesterday threw his full weight behind a drive for international coordination on the implementation of a global risk tax on banks at an International Monetary Fund meeting next month. “This must be brought forward quickly, as I will urge international finance ministers in Washington next month,” Darling said as he presented his [...]
What did you think of the Budget? March 24, 2010 DARLING has delivered his Budget, but what do you think? Apply to join our panel at www.cityam.com/panel by 12pm to answer these questions. Existing members will receive an email this morning. 1) Alistair Darling yesterday unveiled his final Budget before the general election. Overall, to what extent do you approve or disapprove of the Budget? 2) [...]
FuturaGene in link to FSA insider probe March 24, 2010 TWO major shareholders in biotech firm FuturaGene are at the centre of the massive insider trading investigation being undertaken by the Financial Services Authority (FSA). Iranian national Iraj Parvizi, who owns a 15.7 per cent stake in the firm was arrested on Tuesday. He had taken his holding in the Israeli company to 15.7 per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 24, 2010 FINANCIAL TIMES EUROZONE DIVISIONS HIT SINGLE CURRENCY The euro came under heavy pressure yesterday, falling to a 10-month low against the dollar, as doubts intensified about the 16 eurozone member states agreeing on financial assistance for Greece – and Portugal suffered a credit downgrade. Sentiment soured towards the European single currency after Fitch, the rating [...]
Portugal is downgraded March 24, 2010 FITCH Ratings cut Portugal’s sovereign credit rating by one notch to AA- yesterday, citing budgetary underperformance in 2009 and warning that further underperformance this year and next could cause another downgrade. Fitch said the government’s long-term budget austerity plan was broadly credible and it did not expect political instability to upset the passage of the [...]
Conservative lead narrows to just two points March 24, 2010 The Conservative lead over Labour has fallen to just two points, according to the latest YouGov/Sun poll. The Tories are on 36 points and Labour on 34, while the Lib Dems dropped one point to 17, and other parties are on 13. Notably, the fieldwork was conducted before respondents could react to yesterday’s Budget.
EasyJet boss McCall to see pay doubled March 24, 2010 CAROLYN McCall, former Guardian Media Group boss, will see her pay almost double once she takes over as chief executive of low cost airline easyJet. It is understood that McCall, who in 2009 earned a salary of £498,000 at the Guardian, will step into a similar pay package as former easyJet chief Andy Harrison, whose [...]
Search for new Guardian chief starts in earnest March 24, 2010 GUARDIAN Media Group (GMG) yesterday began the search for a new chief executive after Carolyn McCall’s shock defection to easyJet. A Guardian spokesman said McCall would remain in place while a replacement is found. Several names have emerged as early contenders for the post. Tim Brooks, managing director of Guardian News and Media (GNM), is [...]
Lloyd’s reaps record profit but fears 2010 March 24, 2010 LLOYD’S of London was bracing itself for a “very tough” 2010 yesterday, despite releasing a record set of results that showed pre-tax profit doubled to £3.9m last year. A lack of natural disasters and strong investment performance helped the insurance market boost the figure from £1.9bn in 2008, when hurricanes Ike and Gustav forced to [...]