Time for an inquiry into tax system June 13, 2010 THERE are two conflicting trends right now in British economic policy: one is reassuring and invigorating; the other negative and deeply depressing. Both will help determine how successful and prosperous the UK will be over the next few years. I am increasingly optimistic about the immediate, urgent crisis facing Britain – the desperate need to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 13, 2010 THE SUNDAYS The Sunday Telegraph $2.6M BUFFETT LUNCH WON BY ANONYMOUS BIDDER A mystery benefactor has paid $2.6m (£1.8m) to meet with billionaire investor Warren Buffett for a business lunch. The Sage of Omaha auctioned his time in aid of a San Francisco charity. This year’s auction brought in 25 per cent more than any [...]
RBC in talks with UK banks June 13, 2010 Canadian bank RBC is understood to be looking to expand in Europe and is having talks with a view to acquiring a boutique investment bank in London. Co-head of RBC Capital Markets, Doug McGregor, spent last week in the capital meeting potential acquisition targets. The talks are so far only exploratory, but RBC is thought [...]
Private equity back in vogue June 13, 2010 Private equity investors are planning to commit more to the asset class over the next 18 months despite most having seen weak returns from their investments, according to a new study. Nearly two-thirds of investors plan to accelerate new commitments to private equity funds over the remainder of 2010 and 2011, private equity firm Coller [...]
Petrobras to raise $25bn in rights issue June 13, 2010 BRAZILIAN national oil company Petrobras is preparing a $25bn (£17bn) rights issue to raise funds to explore lucrative pre-salt oil fields. The rights issue could take place as early as next month, and would be the world’s biggest so far this year. Petrobras has planned a $220bn (£151bn) investment scheme in the pre-salt fields over [...]
Debt crisis echoes subprime June 13, 2010 THE debt crisis hitting southern Europe resembles the 2007 subprime crisis more than the financial crisis following the collapse of Lehman Brothers, a report by the Bank for International Settlements (BIS) said yesterday. In its quarterly review, the bank also said investors were concentrating on signs of stress in the financial system and neglecting positive [...]
Obama leads push to hike US government spending June 13, 2010 PRESIDENT Barack Obama and his aides are stepping up a push for further government spending to boost the economy as signs grow of the recovery’s fragility. The White House is calling for Congress to urgently pass measures to extend jobless benefits, aid cash-strapped states and provide targeted tax breaks to encourage research and development by [...]
HOUSEBUILDING COLLAPSE WARNING June 13, 2010 THE National Housing Federation (NHF) has warned the number of new affordable homes built this year could slump by 65 per cent to 20,390 because of funding cuts and planning changes. The NHF has urged housing minister Grant Shapps (above) to ensure the government honours spending commitments on new housing schemes.
French deficit target on track June 13, 2010 European Central Bank board member Christian Noyer yesterday said France’s aim to bring its budget deficit down to three per cent from eight per cent of GDP by 2013 was realistic. Noyer was echoing a similar pledge by Prime Minister Francois Fillon at the weekend who said France planned to cut its deficit by €100bn [...]
No prize for honest leaders June 13, 2010 A $5m prize for former African leaders who set examples of honest, democratic government will not be awarded for a second year running, the sponsor said yesterday. Mo Ibrahim, a Sudanese-born telecommunications entrepreneur, founded the world’s largest individual award as a way to encourage good governance in a continent blighted by corruption and a frequently [...]
