Talks over Greek deal drag into small hours February 20, 2012 TALKS over a Greek bailout spilled into the early hours of this morning as negotiators edged closer to a deal to cut Greek debt to a sustainable level. Japanese markets opened lower after hours of wrangling in Brussels were yet to produce a deal. Minister did agree on measures expected to reduce Greece’s debt to [...]
Laws: target high earners February 20, 2012 DAVID LAWS, the former chief secretary to the Treasury, has mounted pressure on the chancellor George Osborne to raise the income tax threshold to £10,000 in next month’s Budget, saying it was time to signal the end of austerity on household budgets. Laws told BBC’s Newsnight yesterday that the Liberal Democrats would fund the move [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 20, 2012 FINANCIAL TIMES US CORPORATES SHY TO OFFER GUIDANCE US companies are more uncertain about the future than at any point since the financial crisis, with just one in five of the country’s biggest corporations making any predictions as they published fourth-quarter results. TRANSOCEAN WILL NOT PROPOSE A DIVIDEND Shares in Transocean, the owner of the [...]
May splits Border Agency February 20, 2012 THE UK Border Agency is to be dismantled, after a critical report found hundreds of thousands of people had been allowed into the country without full security checks. Home secretary Theresa May told parliament yesterday that the UK Border Force, responsible for the day-to-day operations of the borders, would be split from the wider Border [...]
Directors cautious over economy February 20, 2012 Over a third (35 per cent) of company directors see a high or very high risk of the UK falling into recession this year, according to an Institute of Directors survey released today. The survey, which questioned 1,000 business leaders, found 53 per cent thought there was a moderate risk of recession while 11 per [...]
PM committed to NHS reforms February 20, 2012 Prime Minister David Cameron yesterday pledged to push ahead with controversial NHS changes after his health secretary Andrew Lansley was heckled outside Downing Street. Their meeting was to discuss proposals in the Health and Social Care Bill, which aim to give GPs greater control of the NHS budget and open up the health service to [...]
Vista wades into Temenos deal for Misys February 20, 2012 A BIDDING war has erupted over Misys following news of a potential £1.2bn offer for the British software company less than two weeks after Temenos announced its plans for an all-share merger. Vista Equity Partners, officed in San Francisco, Chicago and Austin, is thought to have offered 360p per Misys share – a 16 per cent [...]
Clegg adviser quits weeks before Budget February 20, 2012 NICK Clegg has lost his top economic adviser just weeks before the government unveils its Budget, City A.M. has learned. Chris Saunders, who was employed by the deputy Prime Minister on a salary of £60,000 a year, quit his special adviser’s post on Friday and is currently away travelling with his wife. His departure means [...]
BURBERRY IMPRESSES AT FASHION WEEK February 20, 2012 BRITISH fashion powerhouse Burberry unveiled its Autumn/Winter 2012 collection at London Fashion Week yesterday, bringing thunder, lightning and fake rain to its show in Hyde Park. Samantha Cameron and US Vogue editor Anna Wintour were among the famous faces in the front row, as the brand showed its “Town & Field” collection. Burberry saw its [...]
Surprise loss for Ageas on write-downs February 20, 2012 BELGIAN insurer Ageas announced an unexpected fourth quarter loss of €44.5m (£37m) yesterday as it wrote down the value of its Hong Kong operation and took a €124m hit on the value of its Greek bond holdings. Without these impairments its insurance division would have turned a full year profit of €595m, the firm said. [...]