CBI warns on energy planning delays August 15, 2010 Plans to hand powers to ministers to approve major energy infrastructure projects is making investors nervous about committing to large-scale building projects, according to the CBI. The decision to replace the independent Infrastructure Planning Commission with a Major Infrastructure Unit has been met with concern by the business group, which has identified applications for 37 [...]
AA and Saga owner racks up £500m loss August 15, 2010 THE OWNER of the AA and Saga has revealed huge annual losses thanks to the cost of servicing its massive private equity debts. Accounts filed at Companies House show Acromas posted a pre-tax loss of £529m for the year to 31 January, with operating profits of £183.5m dwarfed by interest payments of £705m. The company’s [...]
Britain should support banks, not vilify them August 15, 2010 AS fears over a double-dip recession have intensified in the past week, with economic data in the UK, US and elsewhere suggesting the global recovery is slowing, many commentators have again turned their attention to the banks. Even as the banks return to profit, the argument goes, they are constraining growth by reducing lending to [...]
BEST OF THE BROKERS August 15, 2010 CINEWORLD Evolution Securities has reiterated its “buy” rating on the stock ahead of this week’s interim results. The broker, which has a price target of 235p, is confident that current trading will be “excellent” due to the strong box office performance of hits like Toy Story 3, offsetting a weaker second quarter. PRUDENTIAL S&P Equity [...]
Qatar lowers interest rate August 15, 2010 Qatar cut its overnight deposit rate by 50 basis points to 1.5 per cent, the first reduction in over two years, the central bank said yesterday. “Lowering the interest rate in Qatar was in line with the global and regional situation,” the bank said. Continued deflation in recent months and July’s rating upgrade by Standard [...]
Japan’s growth to slow down August 15, 2010 Economic data out today in Japan is expected to show that the pace of the country’s growth eased in the second quarter of the year, as a stronger yen weighed on exports. Japanese exports buoyed the economy by 1.2 per cent in the first quarter, though the latest figures for June showed that the growth [...]
Spain hints at future tax hike August 15, 2010 Jose Blanco, Spain’s infrastructure minister, yesterday hinted at future tax rises in the country if continued investment in public works is to be secured. “[Spain] has a very low tax base compared to the average for European countries,” Blanco said. “The question citizens must always ask themselves is if we want first-class public services or [...]
The energy chief who has £22bn to spend over the next five years August 15, 2010 NATIONAL Grid’s surprise £3.2bn rights issue, which successfully closed in June, still touches a raw nerve with chief executive Steve Holliday. Large investors said he had spent the previous 18 months telling them the firm did not need to come to them for cash. And then in May, alongside its results, it announced the largest [...]
CITY GIRLS GET A TASTE OF FIGHT CLUB SCENE August 15, 2010 REPORTS may still be rife over sexual discrimination in the City, but we ladies certainly aren’t ones to take such inequalities lying down. The Capitalist has long been intrigued by the growing popularity of white collar boxing among stressed financial workers in the Square Mile – and now, it appears the sport is catching on [...]
BILL OF THE WEEK August 15, 2010 WEST London gastro pub Paradise By Way of Kensal Green is clearly onto a winner with its new ruse – a private karaoke room for well-oiled customers to sing their hearts out. This group ended up hogging the room for the whole night, paying a hefty £600 for the privilege. They fortified themselves for the [...]