Banker pay starts rising as recovery takes hold January 9, 2014 PAY IN finance and banking is bouncing back strongly this year, according to recruiter Robert Half’s annual salary guide. After several years of sacking staff and holding back pay to bring down costs and reform businesses, banks are increasingly prepared to pay more for the right talent in the right areas, the report has found. [...]
What the other papers say this morning – 10 January 2014 January 9, 2014 FINANCIAL TIMES Taxman hardens stance on disputes The UK taxman has toughened its stance on disputes with big business in response to public pressure over alleged “sweetheart” deals, companies say. Three-quarters of such groups surveyed by Clifford Chance, a law firm, said HM Revenue & Customs had “generally become more aggressive in recent years”. Santander [...]
French official – Our debt puts us in danger zone January 9, 2014 THE FRENCH government’s huge debt pile has plunged the euro area’s second largest economy into a danger zone, the head of its public audit office said yesterday. France’s national debt has reached the equivalent of 93.4 per cent of the country’s GDP, it has estimated – up from 90.2 per cent at the end of 2012. By [...]
Non-financial UK firms jump in profitability January 9, 2014 NON-FINANCIAL sector British companies involved in manufacturing, services and oil exploration industries saw their profitability increase during the third quarter of 2013. The Office for National Statistics (ONS) said that non-financial corporations’ profitability, as measured by their net rate of return, was 11.3 per cent during the quarter, higher than the second quarter but lower [...]
Stocks tumble as Meddings quits StanChart January 9, 2014 SHOCKED investors fled Standard Chartered stocks yesterday on the surprise exit of finance director Richard Meddings, announced alongside a major shakeup of the bank’s structure. Its shares tumbled more than five per cent at the lowest point, before recoverying to close down 2.17 per cent. But big shareholders and analysts rallied round to express their faith [...]
Recruitment boom fuels hopes of a recovery in UK construction January 9, 2014 BRITISH builders have been on a hiring spree in recent months, with some construction firms struggling to find skilled workers and even facing shortages of materials as both housing and commercial developments spring up. Recruitment group Hays said net fees from private sector construction and property jobs rose 21 per cent in the last three [...]
Bank of England holds the line as employment tests guidance January 9, 2014 THE BANK of England made no changes to its forward guidance policy this month, holding UK interest rates at their current low for the opening month of 2014. The monetary policy committee (MPC) was widely expected to keep the Bank’s benchmark interest rate at 0.5 per cent, in line with their forward guidance policy, which aims [...]
Conservatives prepare for EU battle in Lords January 9, 2014 THE CONSERVATIVES are today preparing to push their EU referendum bill through the House of Lords before it runs out of time. The private member’s bill, introduced by James Wharton MP, will be debated in the Lords today. The referendum forms a key part of David Cameron’s election manifesto and would give people the chance [...]
Morrisons share price slides as it warns on profit January 9, 2014 WM MORRISON boss Dalton Philips said it missed out on the usual seasonal surge in footfall over Christmas because of competition from discounters and the lack of an online presence, as the supermarket chain was forced to issue a profit warning. The UK’s fourth largest grocer brought forward its trading update by 11 days to deliver [...]
Tesco downgrades forecasts as Christmas trading disappoints January 9, 2014 TESCO admitted yesterday that full year profits could be as much as £150m below expectations as Britain’s biggest supermarket retailer reported another heavy decline in like-for-like sales over the Christmas trading period. The group, which is 21 months into a turnaround plan, said like-for-like sales fell 2.4 per cent in the six weeks to 4 [...]