AT&T quashes rumours of Vodafone takeover January 27, 2014 The telecommunications giant AT&T has confirmed that it will not be making an offer for FTSE 100-listed company Vodafone. Rumours that the second-largest mobile provider in the US was considering a takeover of the UK company had been mounting in the wake of Vodafone's agreed disposal of its stake in Verizon Wireless. Speculation was heightened [...]
What you need to know before the open – 27/01 January 27, 2014 After Friday’s falls, European stocks are expected much lower this morning, bracing themselves for another day of volatility. US markets posted their worst daily declines since 2011, as emerging markets felt the full force of economic instability in Argentina, Ukraine and Turkey. Selloffs picked up apace, dragging down Europe and the US. Investors have been [...]
Businesses slam Labour tax plan January 27, 2014 LABOUR’S Ed Balls was facing mounting and angry opposition from the business community last night over his plans to increase the top rate of tax to 50p if his party is elected in 2015. The shadow chancellor claims that his tax hike would raise £3bn a year and help cut the budget deficit, helping him [...]
Bosses call for A-level overhaul to boost economic growth January 27, 2014 SECONDARY school education should move away from A levels towards a baccalaureate-type system geared towards the economic needs of the country, a major report out today says. The overhaul, suggested by a panel including CBI president Sir Mike Rake and National Grid boss Steve Holliday, would replace what it calls the “narrow” focus of A [...]
Investors braced for emerging markets chaos January 27, 2014 INVESTORS are bracing themselves for yet another day of volatility in the financial markets, as political problems in Argentina, Turkey and Ukraine, concerns about slower growth in China and reduced support from US monetary policy spook traders. A full-scale flight from emerging markets accelerated last Friday as shares in major economies were dumped in favour [...]
Sponsors line up to steal Barclays’ Premier crown January 27, 2014 THE PREMIER League is bracing itself for a sponsorship bidding war if Barclays decides to pull out of the deal next year, it emerged yesterday. The high street lender, which has sponsored the league since 2001, is mulling plans to end the £40m a year deal when the rights come up for renewal in 2015. [...]
HSBC: There’s no need to fear a strong pound January 27, 2014 EXPORTERS should benefit from a higher sterling because British firms buy as much from abroad as they sell, HSBC said in a report today. Traditionally a weak pound is thought to benefit exporters because it reduces the price of their goods to overseas buyers and so makes them more competitive. But UK manufacturers are now [...]
Coalition plans shake up of UK pension system January 27, 2014 WORKERS could be given the opportunity to boost their pensions under proposals being considered by the government to tackle falling retirement incomes. Steve Webb, the UK’s pensions minister, wants to shake up the pensions market by introducing collective defined contribution schemes (CDCs), similar to those already used in the Netherlands and Denmark. The approach would [...]
What the other papers say this morning – 27 January 2014 January 27, 2014 FINANCIAL TIMES Citigroup bankers to get cash bonuses Citigroup is set to pay most of its investment bankers in Europe at least half of their bonuses in cash this year, underlining how US banks continue to be much more generous than their European rivals. At Citi’s Europe, Middle East and Africa unit, its top rewarded [...]
Lloyds latest to suffer hitch as ATMs go down January 27, 2014 THOUSANDS of Lloyds customers were frozen out of key banking services yesterday afternoon and evening as the bank’s IT systems went down. The crash hit all of the group’s main brands including Lloyds, TSB, Halifax and Bank of Scotland. Around half of the group’s 7,000 cash machines went down, and some customers were affected until [...]