CITY MOVES | WHO’S SWITCHING JOBS March 18, 2012 Carey Olsen The leading legal services provider, with offices in London and the Channel Islands, has announced that Elaine Gray is joining its Guernsey litigation and dispute resolution group. Gray is the second senior level appointment to the department in less than a year, following the arrival of contentious trust specialist Michael McAuley in July [...]
Thomas Cook shares jump after rejected offer reported March 16, 2012 Thomas Cook shares have jumped five per cent after it was reported today that the travel operator rejected a £400m funding deal backed by two leisure industry veterans. Chairman Frank Meysman dismissed the offer by former Airtours executives Terry Fisher and Clive Jacobs, despite the proposal having the support of existing shareholders and outside investors. [...]
Groupon UK given deadline to make changes March 16, 2012 Groupon pledged today to change the way it promotes offers after Britain’s trading watchdog said it had found breaches of consumer protection rules at the daily-deal company. This is the most recent blow to US-based Groupon Inc, which reported a net loss of $42.7m (£27m) in the fourth quarter, after a small profit had been [...]
New iPad not compatible with UK 4G March 16, 2012 Apple’s new iPad launched worldwide this morning, but despite being advertised as compatible with the faster 4G networks, the tablet’s new technology will only work in North America. Even though 4G networks are due to launch in the UK in late 2012, it will not be compatible with the latest iPad due to a difference [...]
FSA chief Hector Sants to stand down March 16, 2012 Hector Sants, the head of the Financial Services Authority (FSA), has resigned and will leave the organisation at the end of June. The organisation added that the Bank of England’s Andrew Bailey would take over Sant’s role in running the part of the FSA that will become Britain’s future Prudential Regulatory Authority (PRA) body. This [...]
Britain and US set to agree emergency oil stocks release March 16, 2012 Britain is poised to cooperate with the United States on a release of strategic oil stocks that is expected within months in a bid to prevent fuel prices choking economic growth in a US election year, according to several sources who spoke to Reuters. A formal request from the United States to the UK to [...]
Argentina to sue UK oil groups March 15, 2012 ARGENTINA has given its sternest warning yet that British oil explorers in the Falklands are no longer welcome in what it claims as its sovereign territory – but the UK government says it will back companies’ right to drill. Argentine foreign minister Hector Timerman (pictured) called the activities “illegal” and “illegitimate” at a news conference yesterday. [...]
New iPad launches in UK as Apple stock hits $600 March 15, 2012 APPLE shares touched $600 for the first time yesterday – just one month after reaching the $500 mark – as the feverishly-awaited new iPad today hits the shelves. But only those willing to stand in the notoriously long queues at Apple stores will be able to lay their hands on the latest tablet device, as [...]
Lloyds bows to pressure March 15, 2012 STATE-BACKED Lloyds Banking Group yesterday bowed to political pressure by stripping four former directors, including ex-chief executive Eric Daniels, of their long term incentive plan awards. According to Lloyds’ annual report, the quartet were set to receive shares under the long term incentive plan (LTIP) for the integration of HBOS following its bailout in 2009, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2012 FINANCIAL TIMES OSBORNE WEIGHS 50P TAX RATE CUT George Osborne is considering announcing a cut in the 50p top rate of income tax to 45p in his Budget next week, after the Liberal Democrats showed willingness to drop their resistance in return for a clampdown on tax avoidance by wealthy people. THOMAS COOK TURNS DOWN [...]