Yet another missed deficit target for Osborne – public sector pay is to blame October 21, 2014 Why can’t the UK government get its deficit down? This issue has been exercising commentators recently, in the light of the latest assessment from the Office for Budget Responsibility (OBR) that George Osborne will once again miss his target for the deficit in the 2014-15 financial year. Of course, the size of the deficit has [...]
TechCrunch Disrupt: Neelie Kroes dodges Jean-Claude Juncker question as AOL’s Tim Armstrong denies Yahoo merger October 20, 2014 European Union digital commissioner Neelie Kroes performed some masterful sidestepping at TechCrunch’s Disrupt conference in Old Billingsgate. The outgoing head enjoyed a grilling from TechCrunch’s editor-at-large Mike Butcher on stage including a cheeky question about her boss, European Commission president Jean-Claude Juncker and his rumoured appreciation of fine wine. Butcher jokingly asked if Juncker liked [...]
Boris Johnson continues gas-bagging at #AskBoris Twitter question time October 20, 2014 Boris Johnson flexed his fingers and hit Twitter yesterday for his monthly #AskBoris question time and, as usual, the mayor didn’t disappoint with his flamboyant answers. He made an extraterrestrial quip when asked about the reinstatement of Peckham Lido, tweeting #takemetoyourlido. He said if he were to spend a night in any building at [...]
Warren Buffett’s second “huge mistake”? IBM shares slide 7.5 per cent in pre-market trading as it admits fall in profits October 20, 2014 It has only been a few days since Warren Buffett admitted buying nearly four per cent of Tesco was a "huge mistake", but now another one of the legendary investor's big gambles is looking shaky. IBM said sales fell four per cent to $22.4bn (£13.9bn) in the three months to the end of September – [...]
Ukip Calypso: Nigel Farage inspires his own political protest song October 20, 2014 Think political protest songs and you're sure to conjure up an image of Bob Dylan blowin' in the wind or maybe John and Yoko imagining a world without war – but what about Nigel Farage arriving at Number 10? The Ukip leader today tweeted a link to a song called the Ukip Calypso, urging [...]
George Osborne braced for bad news on deficit reduction – London Report October 19, 2014 Public finance figures due out tomorrow are likely to be a blow to chancellor George Osborne, with tax receipts lowered by very low earnings growth. Economists predict that Osborne is now unlikely to meet fiscal targets for the year, despite improved economic activity, stronger house prices and an improved labour market. Howard Archer, of IHS [...]
Ebola travel bans: Obama says blocking flights from west Africa could make the outbreak worse October 18, 2014 US President Barack Obama has said that blocking flights from west Africa to stem the spread of Ebola could actually make the situation worse. Lawmakers have been placing pressure on him to block all flights from Liberia, Guinea and Sierra Leone – the three countries suffering most at the hands of the epidemic – [...]
Tesco share price continues to fall as Warren Buffett’s Berkshire Hathaway reduces exposure to troubled supermarket October 16, 2014 Warren Buffett's Berkshire Hathaway has reduced its exposure to Tesco, as the troubled supermarket's share price tumbled further. Until yesterday the legendary investor had around a four per cent holding, the fourth largest stake in the grocer, but has sold more than 245 million shares, cutting that down to less than three per cent. [...]
McEwan reveals Hester’s war with Treasury in reign at RBS October 15, 2014 RBS CHIEF Ross McEwan has shed more light on the bank’s troubled relationship with the Treasury, in a Q&A session with investors. The boss, who took the job a year ago, revealed he had to immediately “make peace” with the politicians. Predecessor Stephen Hester was ousted after disagreeing with the Treasury on the cuts to RBS’ investment [...]
Gates is picky but still praises Piketty October 15, 2014 MICROSOFT founder Bill Gates has drawn attention to what he considers some “important flaws” in Thomas Piketty’s best-selling book, Capital in the 21st Century. In a review of the French economist’s controversial book on his blog, Gates said while he agreed with several points the author had raised, he emphasised that Piketty was wrong to [...]