WHAT THE OTHER PAPERS SAY THIS MORNING October 17, 2011 FINANCIAL TIMES THEFT, FRAUD AND ERROR TAKE £4.9BN TOLL ON SHOPS Shoplifting, employee theft and error have cost UK retailers an estimated £4.9bn in the past year, the highest figure ever recorded, as worsening economic conditions fuel rising levels of crime in the retail sector. In the year to June 30, losses relating to theft, [...]
Moody’s mulls French rating October 17, 2011 Moody’s warned today it may slap a negative outlook on France’s Aaa credit rating in the next three months if the costs for helping to bail out banks and other Eurozone members stretch its budget too much. The warning comes as European Union leaders discuss ways to protect the region’s financial system from an expected [...]
UK warns not to hide fugitives October 17, 2011 British Foreign Secretary William Hague warned Libya’s neighbours yesterday not to shelter Muammar Gaddafi or members of his entourage who have been indicted by the International Criminal Court. “We’ve been very active in reminding other countries in Africa of their responsibilities … to apprehend and to hand over to Libya or the ICC any of [...]
IBM lifts full year forecast as profits rise October 17, 2011 IBM, the computer services giant, reported a rise in third quarter profits and raised its full year guidance yesterday, helped by steady corporate spending and continued growth in emerging markets. IBM said its full year operating earnings would be at least $13.35 (£8.47) per share, up 10 cents from its previous forecast of $13.25 per [...]
British Gas chief warns hike in energy prices will continue October 17, 2011 HOUSEHOLD energy bills will continue to rise despite government measures, industry bosses warned yesterday as government ministers met the “Big Six” energy companies for talks. Phil Bentley, the managing director of British Gas said that prices in the longer term would keep increasing because of the rising cost of gas on the international market and [...]
No slowdown for US factories October 17, 2011 DESPITE fears of a global economic slowdown US industrial output increased in September, according to Federal Reserve figures out last night. Output increased by 0.2 per cent, compared with flat production registered in August. However, manufacturing figures for New York State declined for the fifth consecutive month in October. At minus 8.48 the general business [...]
Euro banks fail new pay rules October 17, 2011 NO BANKS are providing enough transparency and detail on staff pay, and disclosure needs to improve, the European Banking Authority (EBA) said in a report released yesterday. “With regard to the new disclosures on remuneration policy and practices, there is room for significant improvements for the majority of banks included in the sample,” the report [...]
Buckles has some convincing to do October 17, 2011 OUCH. After it announced its “transformational” £5.2bn bid for ISS yesterday, shares in G4S lost almost a quarter of their value. Having pulled plans for a flotation due to lack of demand, the private equity backers of ISS have now successfully shopped the business to G4S. But the thinking among some shareholders is this: if [...]
G4S shares plunge after £5.2bn offer October 17, 2011 INVESTORS took fright yesterday after security firm G4S revealed plans to buy ISS from its private equity owners in a £5.2bn deal. Shares in G4S plunged more than a fifth after it said it would pay £1.53bn in an even split of cash and shares for the Danish facilities management group. It will raise £2bn [...]
Protesters set up home in the City October 17, 2011 PROTESTERS against global capitalism dug in for a long stay outside St Paul’s Cathedral yesterday, after police prevented them from demonstrating outside the London Stock Exchange. About 250 demonstrators appealed for donations of sandbags, wooden palettes and tarpaulins as organisers made plans to create a semi-permanent camp outside the cathedral. The third day of rallies [...]