‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
ABI disputes Myners’ plan for investors August 10, 2009 INVESTOR bodies last night launched a fresh attack on City minister Lord Myners, following his suggestion that shareholders should be able to buy and sell their voting rights. The comments from Myners are the latest in a string of radical proposals designed to increase shareholder power. “Some shareholders who never vote could sell their voting [...]
Heathrow T2 to get a refit August 10, 2009 AIRPORT owner BAA yesterday unveiled plans for a £1bn refurbishment of Heathrow’s Terminal 2, which will allow capacity at the depot to grow by 11.5m to around 30m passengers each year by 2019. The environmentally friendly refurbishment (pictured), part of a £4.8bn investment at the airport in west London, will house airlines belonging to the [...]
China backtracks on new Rio claims August 10, 2009 CHINESE officials yesterday distanced themselves from an earlier report claiming miner Rio Tinto had been engaged in “commercial espionage” against China’s steel mills for six years. A website with links to China’s State Secrets Bureau had said at the weekend that Rio had been spying Chinese businesses as well as inflating iron ore prices which [...]
London worst for job losses August 10, 2009 LONDON saw the steepest rate of job cuts in July according to Markit’s UK regional purchasing managers’ indices (PMI) published yesterday. The survey showed employment levels were falling at their fastest pace for five months, registering 39.9 on the PMI employment index compared to the UK average of 43.6. Tim Moore, economist at Markit, said: [...]
Tories link with Google on NHS August 10, 2009 THE TORIES said yesterday they will make huge savings in the NHS by scrapping government plans for a central database of patient records, and replacing them with a more flexible system hosted by Google or Microsoft. Every patient will be able to update their records with information like blood pressure and cholesterol levels via personal [...]
SCRAPPAGE SCHEME HITS HALF WAY MARK August 10, 2009 THE number of vehicles ordered under the government’s cash-for-bangers scrappage scheme hit 154,927 by 2 August, the Department for Business, Innovation and Skills said yesterday. Up to 300,000 cars can be bought under the scheme, meaning it is over half-way through its course.
CITY VIEWS: SHOULD THE CITY GIVE SIR FRED GOODWIN ANOTHER CHANCE? August 10, 2009 JASPER JEVONS JCT“He could not be trusted in a position of high authority again, where big decisions would rest on his shoulders. But he could take an advisory role, but nothing with his head on the block, because if it was to go wrong he would be a crushed man.” MARK BARRETT BLACKROCK“I don’t think [...]
BUILDING SLUMP TO RAISE CITY RENTS August 9, 2009 THE City’s construction projects are grinding to a halt so quickly that in 2012 there will be no new space available in the City of London, according to a new study from King Sturge. The property specialist yesterday revealed to City A.M. that around 4.3m square feet of new space due for development between 2009 [...]
Cowdery to clinch deal for Friends August 9, 2009 CLIVE Cowdery, founder of buyout vehicle Resolution, expects to be toasting a major victory tomorrow when the board of insurer Friends Provident finally supports his takeover offer. Cowdery has had to raise his price to 0.9 new Resolution shares in return for each Friends share acquired, after weeks of wrangling with the board of his [...]
Tories will not rule out 20 per cent VAT August 9, 2009 THE CONSERVATIVE party denied reports it was considering raising the rate of VAT to 20 per cent yesterday, although it refused to rule the move out for future Treasury budgets. A spokesman for the party, likely to take over the government at a general election next year, said the idea of boosting the tax rate [...]