Election fears continue to weigh on sterling March 7, 2010 I WAS reading the news the other day and a headline caught my eye: “The Pound Plummets”. I couldn’t help but feel that it is too early to use “plummets” in this context. Since the beginning of this year, the pound is down around seven per cent against the dollar, but we have been quick [...]
IoD calls for urgent deficit action March 7, 2010 The Institute of Directors has called for the next government to act immediately to address the budget deficit, despite concerns over the effect of fiscal tightening on a budding economic recovery. IoD director general Miles Templeman said: “The argument that early cuts will jeopardise the recovery is mistaken…Lower spending will trigger a series of positive [...]
Pension owners still confident March 7, 2010 One third of people working in the UK believe their pension will give them enough money to retire on, according to recent research by the National Association of Pension Funds. Results found 27 per cent said they would be confident in pension saving if they were sure they would not lose any money, while 44 [...]
Government sets hard line on diversity March 7, 2010 COMPANIES may be forced to disclose the actions they take to increase the proportion of women in senior roles within their ranks, under new government proposals to be unveiled today. Ministers have called on the Financial Reporting Council to consider including a new clause in the UK corporate governance code, dedicated to improving disclosure around [...]
Glynn winning Ladbrokes race March 7, 2010 SPORTING Index chief executive Richard Glynn is said to be at the front of the race to take over betting agency Ladbrokes. He is understood to be the favoured candidate for the role although no decisions have been made. Other candidates vying for the role include Ladbrokes head of online John O’Reilly. Former Easyjet boss [...]
End of era for Johnston Press March 7, 2010 FREDDIE Johnston will finally step down from the board of Johnston Press, the company his family founded in 1767, after 51 years. The 75-year-old’s departure will mark the first time in 243 years there is no Johnston on the board. But the family legacy is not yet dead – his son Michael is divisional managing [...]
Government told to lay out deficit plans March 7, 2010 THE British Chamber of Commerce (BCC) has urged the government to come up with a credible plan for cutting the budget deficit or risk having the UK’s credit rating damaged. The BCC said the plan must include freezing the total public sector wage bill and bringing public pensions into line with the private sector. The [...]
Darling says he will resist public spending cuts March 7, 2010 ALISTAIR Darling has vowed to stick by his plans for the economy and resist calls from the business community to cut the deficit. The Chancellor said yesterday that the focus of Britain’s forthcoming budget would be on securing the recovery and growth, adding that Conservative plans for immediate cuts would pose “an unacceptable risk to [...]
CBI: Treasury must spell out fiscal strategy March 7, 2010 LABOUR must use the coming Budget to set out its spending plans in much greater detail to boost economic stability and confidence in the public finances, the Confederation for British Industry (CBI) will say today. In a letter sent last week to the chancellor Alistair Darling, the director general of the CBI Richard Lambert called [...]
WHAT IMPACT WILL POLITICAL UNCERTAINTY HAVE ON THE MARKETS? March 7, 2010 JONATHAN LOYNES | CAPITAL ECONOMICS “Even under a hung parliament, at least some form of additional plan to improve the fiscal position is likely to be forthcoming after the election. As and when fiscal worries finally ease, at least some of the current pressure on the pound should be relieved.” MICHAEL SAUNDERS| CITIGROUP “We doubt [...]