CBI warns of spending threat to the economy September 19, 2010 BUSINESS leaders yesterday backed the government’s cost-cutting drive, although they urged it to protect areas vital to economic growth. The Confederation of British Industry (CBI) lobby group said it agreed with plans to slash spending to avoid major tax rises. The group called for increased use of means-testing for some universal welfare benefits and greater [...]
ANALYST VIEWS: IS THE HOUSING MARKET SLIDE SUGGESTING THAT THE ECONOMY IS HEADING BACK INTO RECESSION? September 19, 2010 HOWARD ARCHER | GLOBAL INSIGHT “The more worried that consumers are, the more reluctant they will be to commit to buying a house. It is notable that surveys have recently been showing reduced buyer interest. Given this backdrop, we suspect that house prices could fall by around 10 per cent between now and the end [...]
City asked to help taxman during strike September 19, 2010 THE government plans to call in City tax experts to help break a possible strike by tax collectors over spending cuts, it emerged yesterday. Ministers are understood to have asked officials to set up a unit of specialists to move in if taxmen take industrial action over cuts planned in the October spending review. Chancellor [...]
General Electric wades into row over immigrants September 19, 2010 ENGINEERING giant General Electric has hit out at the government over alleged recruitment problems caused by its immigration policy. General Electric, which makes jet engines, gas turbines and other heavy industrial equipment, said it had been unable to hire a stem cell research executive from India and turbine engineers from outside the European Union because [...]
Santander’s £20bn London float on hold September 19, 2010 SPANISH banking giant Santander could delay a planned £20bn flotation of its UK business on the stock market until the Spring due to uncertainty over the economy. The bank’s six acquisitions in the last four months and new capital rules have fuelled speculation the bank will spin off its UK arm his Autumn but a [...]
Lloyds set to drag its feet on returning cash to investors September 19, 2010 LLOYDS yesterday insisted that its focus remains fixed on cementing its strong capital position and that any plans to hand back cash to investors are still just a speck on the horizon. The bank said that reports it was mulling an imminent buyback of shares held by the government were pure speculation, particularly coming in [...]
Goldman partnership to expand to make room for new members September 19, 2010 GOLDMAN Sachs is set to break with tradition in coming months by relaxing the constraints on the number of employees admitted to the hallowed ranks of its partnership. Instead of the usual “de-fanging” process, whereby some existing partners are demoted from the partnership to make way for up-and-coming talent, Goldman will this year allow the [...]
Clegg to party: keep your cool September 19, 2010 LIBERAL Democrat leader Nick Clegg urged party members yesterday not to panic about a slide in poll ratings after he led them into Britain’s first coalition government since World War Two. Clegg’s Lib Dems have seen their support slump since they became junior partners in the Conservative-led coalition following the general election in May. The [...]
Stewardship Code to face a final hurdle September 19, 2010 THE GOVERNMENT’S new best practice rules for shareholders face a crucial period this week, as the last batch of institutional investors declare their support for the guidelines. The Financial Services Authority (FSA) is also due to report on its two-month consultation into the Stewardship Code, which aims to help institutional shareholders keep a closer eye [...]
Japan boat row tensions flare as China halts talks September 19, 2010 CHINA yesterday suspended high-level exchanges with Japan and promised tough countermeasures after a Japanese court extended the detention of a Chinese captain whose trawler collided with two Japanese coastguard ships. The spat between Asia’s two largest economies has flared since Japan arrested the captain, accusing him of deliberately striking a patrol ship and obstructing public [...]
