McDonald’s to create 2,500 UK jobs January 24, 2012 McDonald’s will create 2,500 new jobs across the UK this year, it has said. The fast-food firm said that almost a third of the new jobs would be given to workers under the age of 25. McDonald’s said the new jobs followed the creation of 13,500 jobs over the past three years.
Siemens chief warns of impact of Eurozone debt woes January 24, 2012 Europe’s biggest engineering conglomerate Siemens posted an unexpectedly sharp fall in core profits and saw a six-quarter streak of rising orders come to an end as the Eurozone’s debt woes hit corporate spending and investment. Chief executive Peter Loescher warned that 2012 would be a difficult year for Germany’s largest company by market capitalisation, but [...]
Chemring predicts tough 2012 defence market January 24, 2012 British military equipment maker Chemring said it expects defence markets to be challenging in 2012 after it posted a six per cent rise in full-year profit, helped by growth in sales to non-NATO markets. “During the last year, many governments have struggled with increasing deficits and lower economic growth …this has affected defence procurement, leading [...]
Land Securities promotes Noel to chief executive January 24, 2012 Land Securities, Britain’s largest real estate investment trust by market capitalisation, said its London managing director Robert Noel was to take over as chief executive on a salary of 680,000 pounds. Alongside a third-quarter trading statement marking steady progress in difficult economic conditions, the company said current chief executive Francis Salway, 54, would depart on [...]
BRUSSELS IN NEW ATTACK ON BANK PAY January 23, 2012 BRUSSELS could make its ultra-strict rulebook on bankers’ pay even harsher, commissioner Michel Barnier said yesterday during a visit to the City. The ideas under consideration include forcing lenders to set a maximum ratio between their most and least highly pay staff and requiring bankers’ fixed base salaries to account for a minimum amount of [...]
Cable’s plan for clawbacks and tougher votes on director pay January 23, 2012 SHAREHOLDERS will be given binding votes on executive directors’ pay as part of coalition plans to reform the corporate landscape. Business secretary Vince Cable, left, said he also wants to make it easier for companies to claw back money from directors if poor performance subsequently emerges. But he dropped plans for workers’ representatives to sit [...]
Nadir stole £150m and fled to Cyprus, court told January 23, 2012 ASIL Nadir, the Turkish Cypriot tycoon, stole £150m from his own company more than 20 years ago, a court heard yesterday. Nadir switched £146m and $6.4m (now £4.1m) from his Polly Peck International empire to a bank he owned in Northern Cyprus before fleeing the country, the Old Bailey was told. The businessman, now 70, [...]
Lords block welfare bill January 23, 2012 THE GOVERNMENT has suffered a further defeat over its welfare reform proposals after peers backed a move to exclude child benefits from the £26,000 annual cap on benefits paid to families. The House of Lords voted by 252 to 237 last night in favour of the amendment introduced by the Bishop of Ripon and Leeds, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 23, 2012 FINANCIAL TIMES HAYWARD ACCUSED OF LYING TO US CONGRESS Lawyers for plaintiffs suing for damages over the Deepwater Horizon disaster in 2010 have alleged that Tony Hayward, BP’s former chief executive, lied in a court statement and gave untruthful testimony to the US Congress when he testified about the spill. In a filing at the [...]
US mortgage deal closer January 23, 2012 US STATE and federal officials are nearing a deal with the nation’s five largest mortgage lenders to settle claims of foreclosure that drove people out of their homes. Democratic state attorneys general and Obama administration officials met yesterday in Chicago to discuss the terms of the settlement. People familiar with the talks have said Bank [...]