BT could face long strike June 17, 2010 THE Communication Workers Union said last night it was prepared for a lengthy strike at BT, as the telecoms firm took to contacting workers directly in an attempt to avert industrial action. Andy Kerr, the CWU’s deputy general secretary, said that he was willing to organise a protracted strike in order to improve upon BT’s [...]
LIKE FATHER, LIKE SON IN THE WORLD OF SPIN June 17, 2010 TO THE Kensington home of City slicker Roland Rudd, the boss of PR firm Finsbury, last night for his annual party, one of the highlights of the summer schmoozing circuit. Grandees of the worlds of business and politics were there in their droves for the event, including WPP boss Sir Martin Sorrell; Royal Bank of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2010 FINANCIAL TIMES UGANDA TAX ROW DELAYS HERITAGE SALE OF OIL FIELD Uganda is insisting that Heritage Oil, the UK-listed oil explorer, must agree to pay $360m (£243m) in capital gains tax on the “super profits” it will make on a $1.35bn oilfields sale before it will sanction the deal. Uganda’s energy minister said the government [...]
UK postal service “should float” June 17, 2010 The chairman of Royal Mail said the organisation should plan for a multi-billion pound stock flotation in the next few years. Donald Brydon told the Financial Times that the state-owned postal service was entering a “new era” with a chance to tackle its pensions deficit, regulation and ownership. The government is drawing up a bill [...]
Lillie Langtry all set to be crowned Ascot Queen in Coronation Stakes June 17, 2010 YOU would have got a big price about Aidan O’Brien not training a single Royal Ascot winner, but the Ballydoyle maestro will arrive at the Berkshire course today without a winner on the board after three days of racing. However, I expect him to have a cracking afternoon and his LILLIE LANGTRY can land the [...]
Dooley to take over AIG assets June 17, 2010 AIG has promoted 32-year-old Bill Dooley to executive vice president for investments and financial services. Dooley will have overall responsibility for the insurer’s asset management group, taking over from Monika Machon who will continue as chief investment officer. He has held several senior roles in the firm including senior vice president of AIG Investment and [...]
FSA looks into leaked buyout offer for Brit June 17, 2010 BRIT Insurance, the Lloyd’s of London outfit, has asked the City watchdog to investigate the leaking of a £785m takeover offer for the business from US private equity group Apollo. Brit’s board, led by chief executive Dane Douetil and chaired by John Barton, is said to be concerned after news of an anonymous approach was [...]
Lord Sugar warns rise in CGT would devastate enterprise June 17, 2010 ONE of the UK’s best known entrepreneurs yesterday spoke of the potentially “devastating” effects of the proposed capital gains tax (CGT) hike on levels of enterprise in the country. Lord Sugar, the Labour peer and Apprentice star, slammed the coalition’s plan to bring CGT into line with income tax, claiming the move would deincentivise those [...]
Seventh straight rise for FTSE 100 as BP bounces on US compensation deal June 17, 2010 BRITAIN’S top share index rose for the seventh consecutive day yesterday, led by BP after its compensation deal with the White House, but gains were held in check by weak US jobs data hitting commodity-linked stocks. The FTSE 100 was up 15.97 points, or 0.3 per cent, at 5,253.89, to close at its highest since [...]
Strict swap desk reforms set to stay in final US financial bill June 17, 2010 A sweeping overhaul of US financial regulations will include a controversial plan to insulate banks from risky swap dealing, aides said yesterday as lawmakers hammered out a final bill. With final negotiations on the reform bill bogged down amid partisan bickering, Democrats who control the process neared consensus on an element that has drawn furious [...]
