Fuel tanker firms get back round the table with Unite April 23, 2012 TRADE union Unite yesterday resumed talks with fuel tanker firms aimed at averting a strike. The firms and union reps took part in talks at dispute resolution service Acas yesterday and are set to do so again today. Fuel distribution firms last week granted Unite an extension to its strike mandate, which is now due [...]
MP calls for Tobin explanation April 23, 2012 ● High-profile Conservative MP Andrew Tyrie yesterday called on the government to reveal how workable a global financial transaction tax (FTT) would be. The European Commission wants to implement an EU-wide FTT, but the government opposes it on the grounds that firms could simply move to other jurisdictions. Instead, it claims it would support the [...]
No construction growth for years April 23, 2012 ● Construction sector output is expected to fall by almost three per cent this year, according to forecasts out yesterday from the Construction Products Association. The trade body blames falling government spending for the decline, and does not expect the sector’s output to rise until stronger private sector demand drives growth in 2014. “Public sector [...]
EU suspends sanctions on Burma April 23, 2012 ● Most EU sanctions against Burma were suspended yesterday, thanks to a shift towards democracy in the country. The arms embargo will remain in place, but European companies will be allowed to invest in Burma, which has significant natural resources and borders economic giants China and India. The EU had frozen the assets of nearly [...]
WHO’S SWITCHING JOBS April 23, 2012 Northill Capital The asset manager, founded in 2010, has announced the appointments of Darius Berendji and Cathy Jones as partners in its management team. Berendji joins as partner and chief financial officer. He was previously financial director for Kedge Capital. Jones joins as partner and head of human resources. She previously held the same role [...]
BEST of the BROKERS April 23, 2012 HERITAGE OIL UBS has upgraded the oil and gas group from “neutral” to “buy” and maintained its target price on the stock at 190p following recent weakness in the shares. The brokers says that the 22 per cent fall in the share price since the start of the year is “unjustified” given the company’s unchanged [...]
FTSE slumps as fresh fears over the Eurozone return to global markets April 23, 2012 BRITAIN’S top shares surrendered almost all of last week’s gains yesterday, led lower by commodity stocks and banks, as political uncertainty and disappointing economic data revived investor concerns over the Eurozone debt situation. The mood was darkened by data showing the Eurozone’s business slump deepened at a far faster pace than expected in April, suggesting [...]
Wall Street is in retreat over euro worries April 23, 2012 US stocks fell yesterday as political turmoil in Europe cast doubts on the Eurozone’s ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe. The Dow Jones industrial average was down 102.09 points, or 0.78 per cent, at 12,927.17. The Standard & Poor’s [...]
Super Mario talks a good game but Italy’s entrepreneurs have lost out April 23, 2012 ITALIAN Prime Minister Mario Monti recently proclaimed “historic” labour reform and even declared the “financial aspect” of the crisis to be over. But don’t pop the Prosecco yet. Italy’s biggest impediments to business – rigid labour rules and uncertain contract enforcement – are alive and well. Monti’s upbeat attitude should be tempered by Italy’s ongoing [...]
Financial markets aren’t like casinos – but they aspire to their condition April 23, 2012 CASINOS are a triumph of human achievement – a beacon of what financial markets hope to accomplish. No, I’m not being facetious. Consider the distinction the economist Frank Knight made between risk and uncertainty. Risk is calculable because the range of possible outcomes is known. In roulette, for example, a ball is released into a [...]
