Squeeze on income shows little easing January 22, 2012 CUTS to tax credits are set to strain the UK’s “squeezed middle” even further, with wages continuing to fall and mortgages beyond the reach of many under-35s, a report from the Resolution Foundation will say today. The Lloyds TSB spending power report, also out today, reveals spending on essentials, like utilities, rose 4.6 per cent [...]
UK’s global connections set to decline January 22, 2012 THE UK is one of only two major world economies set to become less connected to the global economy, a report reveals this morning. Globalisation will continue to advance in the next three years, according to the Ernst and Young report, with medium-sized emerging markets expected to become notably more connected with other countries. But [...]
Hungarians resent Brussels… January 22, 2012 GOVERNMENT supporters rallied over the weekend to support PM Viktor Orban after the European Commission began legal action against his constitutional reforms. More than 100,000 people gathered on Saturday to support the ruling Fidesz party as it prepares to compromise in a bitter row with the EU to secure a vital loan. Critics say the [...]
… while Croatians vote in favour of joining the EU January 22, 2012 CROATIA has voted in favour of joining the European Union in 2013, shrugging off concerns over the economic turmoil in the bloc, according to preliminary official results of a referendum. With 38 per cent of votes counted, 67 per cent had voted in favour of becoming the bloc’s 28th member, the state electoral commission said, [...]
Labour hits out at government ahead of growth figures release January 22, 2012 THE LABOUR party has hit out at the coalition government ahead of fresh GDP figures expected this week. “When our economy has already flatlined for a year and unemployment is rising, it will not be good enough for George Osborne to claim next week that any positive figure is good news,” said shadow chief secretary [...]
Dividend boom as payouts rise to record high January 22, 2012 SHAREHOLDERS’ payouts increased in 2011 for the first time since 2008, Capita Registrars’ figures show today. Dividends hit a record £67.8bn, representing a 19.4 per cent rise for the year, and a 26 per cent jump in the fourth quarter compared with the same period of 2010. Excluding special dividends and BP’s £1.8bn increase as [...]
ECONOMISTS’ VIEWS: DID THE UK ECONOMY CONTRACT AT THE END OF LAST YEAR? January 22, 2012 HOWARD ARCHER | IHS GLOBAL INSIGHT “On balance, we would say that the risks are to the downside to our forecast of flat activity. However, it is not inconceivable that the economy eked out marginal growth helped by decent consumer spending in December.” NIDA ALI | ERNST & YOUNG ITEM CLUB “October’s strong retail figures [...]
SUPERMODELS AND SHY TYCOONS LAUNCH THE SCOTCH AND JALOUSE January 22, 2012 TWO PARTIES in one evening. Just a usual Thursday night out for supermodel Kate Moss, who started last Thursday evening at Arjun Waney’s Arts Club before moving on to the re-opening of The Scotch the other side of Piccadilly in St James’s. The Capitalist had been informed that the venue’s opening night would be a [...]
BILL OF THE WEEK January 22, 2012 DID THE Chelsea speakeasy Barts have City profits in mind when it designed its new “up in smoke” drinks menu? Not at all, says the bar – in these post-smoking-ban days, it is all about giving smokers a nicotine hit without having to stand outside in the cold. Among the first to get their fix [...]
Universal could divest to secure EMI takeover bid January 22, 2012 UNIVERSAL Music Group could be forced to sell small parts of its empire to appease critics who argue that its takeover of British record label EMI will harm competition. The £1.2bn deal announced in November would see Universal behind 49.5 per cent of European music downloads and 54 per cent of airplay tracks, according to [...]
