Queen feels financial pinch June 28, 2009 The Queen is chasing a rise in her expenses because the £7.9m-a-year grant is no longer enough. She has asked for a substantial increase to pay for banquets, furniture and the upkeep of palaces. The grant covers the cost of the Royal household, from official entertaining to housemaids and footmen.
Swiss fighting tax clampdown June 28, 2009 The Swiss government is in an economic war with major economies over plans to clamp down on the secrecy of its banking sector, which is blamed for allowing tax evasion that costs governments billions in lost revenues each year. Geneva bankers believe Switzerland is being picked on by economic powers like the US and UK [...]
Police failings on G20 protests June 28, 2009 Police relied too heavily on untrained and inexperienced officers to maintain control of protesters during the April G20 summit in which one man died, a parliamentary committee will say today. The Commons Home Affairs Committee repoerts that while City disruption was minimal, this was partly due to chance.
White Paper won’t beef up role of Bank June 28, 2009 CHANCELLOR Alistair Darling’s White Paper on reform of the regulatory authorities, which has been delayed until next week, will not see a change in the structure of the tripartite authorities. Business minister Lord Mandelson will tonight confirm that financial regulation will remain in the hands of a beefed-up Financial Services Authority (FSA) rather than transferring [...]
YES, HE COULD June 28, 2009 PRESIDENT Barack Obama could discuss a second stimulus package to boost the economy if needed, but at the moment no more new money looks necessary, a top White House official said yesterday. David Axelrod said: “Much of the stimulus is yet to come, and let’s see how this works before talking about next steps.”
Tata to sell Jaguar cars in India June 28, 2009 Tata Motors, India’s largest carmaker, last night said it will start selling luxury Jaguar and Land Rover vehicles in India. Tata chairman Ratan Tata described the launch of the brands, which it bought from Ford Motors last year, as a “momentous occasion”. Jaguars’ XF and XK cars are to be rolled out, starting at a [...]
Honduras coup against Zelaya June 28, 2009 Honduras President Manuel Zelaya was arrested and removed from power in a raid yesterday by soldiers, after refusing to obey a Supreme Court ruling against holding a constitutional referendum. The leftist called the coup a kidnapping and insisted he was still president. US president Barack Obama expressed deep concern about the Central American state.
City’s Goldfinger vaults for sale June 28, 2009 The former City headquarters of Midland bank, whose vaults featured in the 1964 James Bond film Goldfinger, has been put up for sale by administrators. This comes just two-and-a-half years after it was bought by former Russian deputy finance minister Vladimir Chernukhin, who acquired the listed plot, next to the Bank of England, for £72m. [...]
North Korean economy in growth June 28, 2009 The North Korean economy grew in 2008 after two years of falls thanks to high agricultural yields, the South Korean central bank said. As growth declined in most economies during the financial crisis, the North Korean economy grew by 3.7 per cent in 2008 after shrinking by 2.3 per cent in 2007.
Rose row set to rumble on June 28, 2009 MARKS and Spencer is this week preparing to post better-than-expected sales figures for the first quarter, though the results will remain overshadowed by growing unrest among shareholders regarding Sir Stuart Rose’s dual leadership role. According to analysts, favourable weather patterns and a late Easter should have boosted the retailer’s performance over the first quarter. M&S [...]