What the other papers say this morning – 23 September 2013 September 22, 2013 FINANCIAL TIMES Twitter seeks pre-IPO credit line Twitter is in discussions with banks about a new credit facility that could run into hundreds of millions of dollars, giving the internet company extra flexibility ahead of its initial public offering. High quality global journalism requires investment. Sources familiar with the discussions say that Twitter is in [...]
Watchdog: bad loans to blame for Co-op woes September 22, 2013 BAD LOANS from the Britannia Building Society are responsible for most of the Co-op Bank’s loan losses in the past year, and could get worse in future, a top Bank of England official insisted in a letter released today. Andrew Bailey, the head of the Prudential Regulation Authority, was hitting back at claims by the [...]
At least 68 dead in Kenya terror September 22, 2013 KENYA said last night its security forces were in control of most of the Nairobi shopping mall where at least 68 people were killed by Somali al Shabaab Islamists, but gunmen still appeared to be holding hostages as the siege entered its third day. Referring to an operation under way since early yesterday, following the [...]
Smaller parties squeezed out by Merkel’s win September 22, 2013 ANGELA Merkel’s coalition allies the Free Democrats (FPD) are set to be wiped out after the German public yesterday gave them less than five per cent of the vote. Under Germany’s system of proportional representation a party needs at least five per cent to gain any seats in parliament. The new eurosceptic party the Alternative [...]
New coalition could hit UK’s EU reform hope September 22, 2013 DAVID Cameron had hoped Angela Merkel would be a key ally in his bid to bring more powers from Brussels back to the UK, but analysts warned last night that plan could be hurt by the German election results. Although Merkel herself is firmly in position after a major victory, her coalition partners the economically [...]
Rating agency puts Royal Mail above its rivals September 22, 2013 ROYAL Mail has been given a better financial health rating than any other post or parcels companies in the world, boding well for the government’s planned flotation of the postal service in the coming weeks. Independent US rating company Rapid Ratings said that Royal Mail had “changed dramatically” in the past two years, ranking it [...]
Builders blame council red tape for UK’s shortage of new houses September 22, 2013 COUNCILS are attaching onerous conditions to planning permissions, holding back construction work and so stopping builders from meeting rising demand for houses, the Home Builders’ Federation (HBF) warned today. Rising prices and tweaks to the planning rules have prompted a rise in permissions – the first six months of 2013 saw 77,686 granted, up 26 [...]
Higher wage bill would hit small business September 22, 2013 NEARLY half of small firms already paying staff at or above the amount advocated by the living wage campaign, according to new research. A survey by the Federation of Small Businesses (FSB) suggests that 49 per cent of firms already pay their staff at or above the amount that the campaign is pushing for, but [...]
Ofgem supports campaign to cut switching time September 22, 2013 REGULATOR Ofgem today said it supports First Utility’s campaign to reduce the time it takes customers to switch suppliers, a move that it is claimed could save UK households a total of £1.5bn per year. First Utility, an independent energy provider that is vying to break the stranglehold of the so-called big six, today launched [...]
EY to hike headcount by 2,000 September 22, 2013 PROFESSIONAL services giant EY is hiring another 3,700 staff at all levels over the coming nine months, a recruitment push that is expected to increase its overall headcount by around 2,000, the group said last night. As the economic recovery takes hold the group, formerly called Ernst and Young, is expecting an increase in demand [...]