CITY EYE June 3, 2009 CONSTRUCTION on the Heron Tower on Bishopsgate has now reached the 17th floor. The 46-storey tower, due to be completed in 2011, will eventually house 3,000 City workers, all of whom will be personally greeted by name by a Hall Call system as they swipe their entry cards at the beginning of each day.
IS THIS BUYOUT A SOUND MOVE? June 3, 2009 RAKSHIT RANJAN NOBLE“Following the analyst meeting we are more positive on the quality of Fortis Corporate Insurance’s portfolio and Amlin’s ability to generate its desired synergies and returns from it. However, we do believe that there will be a drag on the share price in the short term due to a potential reduction in the [...]
LABOUR IN MELTDOWN June 3, 2009 AS VOTERS go to the polls, Prime Minister Gordon Brown is fighting for his political life after cabinet minister Hazel Blears resigned yesterday – just 24 hours ahead of today’s European and local government elections. Communities secretary Hazel Blears is the fourth ministerial departure in 48 hours and the second at cabinet level, after it [...]
UK SERVICES SECTOR OUT OF RECESSION June 3, 2009 A SURPRISE return to growth for the services sector recorded in May boosted hopes yesterday, suggesting that Britain could be the first major economy to recover from the financial crisis. The CIPS/Markit UK services sector purchasing managers’ index (PMI) released yesterday recorded a reading of 51.7, above the critical 50 mark that separates expansion from [...]
We owe it to democracy to vote today June 3, 2009 TODAY is Election Day – even though the astonishing circus of resignations, backstabbings and the near collapse of the Labour government have completely overshadowed the parties’ manifestoes for the European parliament. Many readers will doubtless be planning to abstain in disgust at the evident moral and financial corruption of our ruling classes, a belief that [...]
Q & A : TODAY’S ELECTIONS June 3, 2009 Q. WHAT IS THE EUROPEAN PARLIAMENT?A. It is the EU’s only directly elected body. There will be 736 members of the European Parliament (MEPs), of which 72 will come from the UK. Q. WHAT AM I VOTING FOR IN THE EUROPEAN ELECTIONS?A. You vote for a party rather than an individual candidate; individuals at the [...]
CITY VIEWS: IS IT RIGHT THAT POLITICIANS LOSE THEIR JOBS OVER EXPENSE CLAIMS? June 3, 2009 ROBERT SKRMETTA AON“These people should not be allowed into office ever again and in certain cases they should be facing criminal charges. They shouldn’t be given the option to resign, they should be fired instead. They have taken advantage of their situation to overuse taxpayers’ money.” MATTHEW MELVILLE GCUBE“I can understand it partly because they’re [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2009 FINANCIAL TIMES BANKRUPTCIES SET TO RISEThe number of corporate bankruptcies is set to surge by 35 per cent this year, turning the world economy into a “burial ground” for businesses, according to a study by Euler Hermes, the credit insurer. In a study published today the Paris-based unit of Allianz, says the rate of corporate [...]
Porsche asks for a state loan June 3, 2009 Porsche said it had asked the German government for a loan, raising fresh questions yesterday over its ability to manage a debt mountain that has already forced it to abandon a takeover of Volkswagen. Porsche racked up about ¤9bn of net debt trying to swallow its much bigger rival Volkswagen before the financial crisis turned [...]
Arcelor lays off Spanish workers June 3, 2009 ArcelorMittal, the world’s largest steelmaker, said it has sealed a deal with the Spanish government allowing temporary layoffs among its 12,000 Spanish workers in response to falling global demand for steel. The agreement is valid until the end of the year and may be extended until June 1, 2010, depending on market conditions, ArcelorMittal said.