Leisure industry bosses urge plans to cut tax and lift jobs June 12, 2012 BUSINESS in Sport & Leisure, whose 70 members span the gaming to tourism industries, has urged the government to help unlock 440,000 potential jobs in the sector by cutting VAT and introducing initiatives to kick-start growth. In a report published yesterday outlining the impact of leisure on the economy, BISL revealed that the industry provides [...]
Nasdaq executive to join LSE June 12, 2012 LONDON Stock Exchange (LSE) said yesterday that David Warren will jump ship from Nasdaq to become its new finance chief, as it unveiled a management shake-up designed to diversify the company beyond its share trading business into data, technology and clearing. Warren, who holds the equivalent role at US exchange Nasdaq, will replace Doug Webb at the start [...]
BMW will build engines for new hybrid sports car at UK factory June 12, 2012 GERMAN carmaker BMW delivered yet another boost the UK auto industry yesterday, saying that the engines for its new hybrid sport model will be built at a factory near Birmingham. The i8 petrol-electric car will go on sale at the end of next year, with a three-cylinder petrol engine to extend its capacity beyond what is [...]
Premier Farnell investors hit out at exec pay June 12, 2012 NEARLY a third of shareholders rebelled over pay at electronic parts distributor Premier Farnell yesterday amid concerns about directors’ performance targets. The firm said 32.1 per cent of its shareholders voted against the remuneration report at its annual general meeting. Investors expressed frustration over the use of two six-monthly performance targets for the 2012-13 financial [...]
China threatens to seize planes in EU tax row June 12, 2012 CHINA yesterday threatened to impound European planes if its own aircraft are seized, in the latest tit-for-tat over the EU’s unpopular carbon emission tax. Chinese airlines, at the behest of Beijing, have refused to hand over data on their carbon emissions by Europe’s 31 March deadline. And now authorities have warned they could hold up [...]
Plus Markets asks investors to back board June 12, 2012 THE BOARD of troubled exchange operator Plus Markets yesterday urged shareholders to reject an attempt to oust the firm’s chief executive and chairman. Irate investors tabled the AGM motions after becoming exasperated with the directors’ handling of the proposal to sell the firm’s stock exchange unit to broker ICAP for a nominal fee. But shareholders in Plus Markets [...]
JOHN LAING MOVES INTO KINGSWAY ESTATE June 12, 2012 DEVELOPER UK & European has secured John Laing as a tenant at its One Kingsway estate in London’s Midtown. The PFI specialist has taken two office floors at around 25,000 square feet on a 15-year lease. It joins Tate & Lyle, which agreed to take the top two floors of the building at Aldwych, and [...]
Britain is set to face two more years in slump June 12, 2012 THE ECONOMY is flat-lining and will not return to pre-recession levels of output until 2014, according to a forecast out yesterday from the National Institute for Economic and Social Research (NIESR). It estimated that the economy grew 0.1 per cent in the three months to May, reversing the 0.1 per cent decline in the three [...]
Eurozone crisis hits developing economies, warns World Bank June 12, 2012 DEVELOPING countries should brace for a long period of financial market volatility and weaker growth as tensions rise over a worsening Eurozone debt crisis, the World Bank warned yesterday. The report said developing nations should prepare for tougher times by reducing short-term debt, cutting budget deficits and moving to a more neutral monetary stance so [...]
UK becomes nation of renters as young adults fail to save June 12, 2012 YOUNG people in the UK are increasingly relying on their parents to help them onto the property ladder, an industry survey revealed yesterday, as the financial crisis and their own failure to save holds them back. Half of 20 to 45 year olds think Britain will become a nation of renters within a generation, and [...]
