Slow planning decisions thwart growth, small firms complain June 27, 2012 BRITAIN’S “costly and complex” planning system is stifling small firms and stunting economic growth, the Federation of Small Businesses (FSB) said yesterday. Nearly seven in 10 (69 per cent) of small businesses are forced to wait longer than the intended maximum of eight weeks for local authorities to decide on most planning applications, the FSB [...]
Real wages stagnant despite steady private sector pay rises June 27, 2012 PRIVATE sector nominal wages grew steadily over the last few months, according to research published today by Incomes Data Services (IDS). The median pay deal in the three months to May 2012 was three per cent in the private sector, but just 2.5 per cent in the economy overall, as some pay freezes in the [...]
Chicago dove Evans urges the Fed to fire up the printing press June 27, 2012 SENIOR Federal Reserve official Charles Evans, one of the US central bank’s strongest advocates for further monetary policy easing, said yesterday he is flummoxed by the Fed’s timidity in the face of high unemployment and relatively low inflation. At its policy-setting meeting last week, Fed officials sharply slashed their GDP forecasts for 2012 and 2013 [...]
New subsidies for young workers June 27, 2012 Firms that take on young workers in 20 areas with high levels of unemployment will receive improved wage subsidies, deputy prime minister Nick Clegg announced yesterday. Employers who take on 18-24 year olds classed as ‘long-term unemployed’ from these regions will now receive £2,275 per person after six months while in the rest of the [...]
Norwegian strike lifts oil prices June 27, 2012 An oil workers’ strike in Norway, the world’s eighth largest oil exporter, has propped up Brent crude, pushing the price to nearly $94 a barrel in yesterday’s trading. The labour minister, Hanne Bjurstroem, yesterday said that the government was far from intervening in the dispute. The government has the authority to step in to force [...]
Brazil unveils stimulus measures June 27, 2012 Brazil unveiled a new round of stimulus measures yesterday, pledging to boost government purchases and lower subsidised lending rates for companies in another bid to revive its economy. It is hoped the new measures, which call for government purchases to rise by 6.6bn reais this year, will shield Brazil from the global economic slowdown.
Yule Catto hit by weakening demand in Asia June 27, 2012 BRITISH chemicals maker Yule Catto saw its share price plunge yesterday after it announced that it expects its business to be hurt by a volatile euro and weakening demand in Asia. Yule Catto shares plummeted by 21.4 per cent making them one of the biggest percentage losers on the London Stock Exchange. The news undermines [...]
Bunzl acquires US distribution firm as revenues head upwards June 27, 2012 GLOBAL distribution and outsourcing company Bunzl said yesterday it had bought Service Paper Company in the United States while separately issuing an upbeat trading statement. Service Paper distributes disposable supplies to the grocery, food service, food processor and industrial packaging sectors throughout the Pacific Northwest. Revenues of the business acquired for the year ended 31 [...]
Tepco to receive £8bn injection June 27, 2012 Tokyo Electric Power (Tepco) shareholders voted yesterday to approve the Japanese government’s 1 trillion yen (£8bn) capital injection, to avert the collapse of the utility in the aftermath of the Fukushima nuclear crisis. The capital injection will hand control of Tepco to the government. It brings total state support for the company to 3.5 trillion [...]
Xtract suspends share trading June 27, 2012 Shares in Xtract Energy were suspended yesterday. The company said it had received cash demands from Noreco, the operator of its Danish Luna well, in relation to cost overruns on the drilling of the well. The company said in a market statement that its financial future was uncertain. It said: “We are exploring various potential [...]