Putin triumphs in Russia vote March 4, 2012 But elections are marred by claims of widespread fraud VLADIMIR Putin laid claim to a dramatic victory in Russia’s presidential elections last night despite allegations of vote rigging by his opponents. With counting mostly complete, Putin was on course to claim between 58 per cent and 65 per cent of the vote last night and [...]
Coalition hits out on Heathrow March 4, 2012 THE GOVERNMENT said yesterday it will not reconsider a third runway at Heathrow, batting away fresh claims from businesses and interest groups that more air capacity is desperately needed to support economic growth. “The government does not support the development of a third runway at Heathrow because of the unacceptable environmental consequences it would bring,” [...]
Creditors mull Greece deal March 4, 2012 GREECE’S fate will be decided by a small group of its private creditors this week as they mull the terms and conditions of a deal that aims to cut €107bn (£89bn) from Athens’ €340bn debt burden. Greek investors will have to decide in the next couple of days whether to accept a 75 per cent [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 4, 2012 FINANCIAL TIMES EU TO PUSH QUOTA FOR WOMEN DIRECTORS The EU’s executive is to press ahead with plans for quotas to increase the proportion of women on corporate boards, triggering a protracted fight between Brussels and national governments. Viviane Reding, justice commissioner, will announce the first step towards European-level legislation, a year after she threatened [...]
Millions set to pay higher mortgage rate March 4, 2012 MORTGAGE repayments are set to rise across the board, with millions of borrowers expected to pay more each month. Over one million Halifax and NatWest customers have already been hit with rate rises, while some new customers to Santander will also see repayments go up. Those banks have blamed higher funding costs on wholesale and [...]
JP Morgan prop trading chief quits March 4, 2012 JP MORGAN has suffered a blow as its head of proprietary trading has decided to quit to set up a hedge fund. In response to regulatory pressures that will outlaw most US banks’ prop trading activities – that is, bets with their own cash rather than clients’ – it is understood that Mike Stewart is [...]
Small firms’ demand for financing declines as just 9pc apply for cash March 4, 2012 MORE than 90 per cent of small businesses have not recently applied for extra loans or overdrafts, according to the SME Finance Monitor, a quarterly report. Just nine per cent of 15,000 SMEs surveyed in the last quarter of 2011 said they had requested any new or renewed financing in the last year, down from [...]
20,000 MORE UK JOBS FOR TESCO March 4, 2012 TESCO unveiled plans yesterday to hire 20,000 new staff over the next two years as part of the supermarket’s efforts to revive its UK business. The UK’s biggest retailer, led by Phil Clarke, said it will invest significantly in additional staff hours and training to boost the customer experience. Tesco said the jobs are the [...]
BP could still face US trial despite Gulf deal March 4, 2012 BP is still set to face the US government in court over the Gulf of Mexico spill, despite its $7.8bn (£6.5bn) settlement with victims over the weekend. Though the deal with more than 100,000 victims was largely welcomed by those affected and by analysts, the US Department of Justice and five American states are pursuing [...]
Oil firm sorts a big part of its sprawling courtroom drama March 4, 2012 IT almost came down to the wire. Just as well it didn’t, given BP’s settlement involves more than 100,000 victims, along with their 340 lawyers from about 90 law firms. Imagine the risk assessment for a deal struck on the courthouse steps. Friday’s long-awaited settlement, tabled after the enormous trial in New Orleans was delayed [...]