What the other papers say this morning – 24 March 2014 March 24, 2014 FINANCIAL TIMES Heseltine takes control of Haymarket Michael Heseltine has taken full control of Haymarket, the publishing group he co-founded 50 years ago, as it restructures to move its flagship consumer titles online and expand internationally. The 81-year-old former Conservative politician is betting on a recovery in the fortunes of Haymarket, which made a pre-tax [...]
Russian firms count the cost of Crimea crisis March 24, 2014 RUSSIAN firms in London have seen their share prices tank and borrowing costs leap since the Ukraine crisis, with the businesses worried their reputations have taken a severe knock. Some Russian stocks trading in the UK have fallen by more than 30 per cent since the start of the year, as turmoil in emerging markets [...]
City watchdog mulling move to new offices in the Olympic Park March 24, 2014 THE FINANCIAL Conduct Authority is poised to make a decision later this week on plans that could see it move its 3,000 staff from Canary Wharf to new offices on the Olympic Park. The watchdog has four years left on its lease at 25 North Colonnade, and is understood to have drawn up a shortlist [...]
Price of digital music and apps set to skyrocket March 24, 2014 THE PRICE of digital goods – such as music, ebooks and mobile apps – sold by some of the largest technology companies could jump after a tax loophole that allowed firms to avoid paying VAT on their sale is closed next year. The change, if passed on to customers by a price increase, could see [...]
Moya Greene’s pay deal faces a political revolt March 24, 2014 MOYA Greene’s pay rise could be limited to three per cent this year, if business secretary Vince Cable gets his way, it emerged yesterday. The minister reportedly wants to cap the Royal Mail chief’s raise at the same level as that of the workers in the company. The government sold the majority of its stake [...]
Tory MPs lobby Cameron to tone down anti-immigration stance March 24, 2014 CONSERVATIVE MPs are preparing to launch a new group to lobby the Prime Minister over his anti-immigration rhetoric. Conservatives for Managed Migration will launch tomorrow and be headed up by City MP Mark Field, in a bid to soften the Conservative party line on migration ahead of the European elections. Field told Sky News yesterday [...]
RBS and Lloyds must relocate if Scots vote yes March 24, 2014 ROYAL Bank of Scotland and Lloyds would be forced to move their headquarters to the UK if Scotland votes to become independent from the UK, a new report has claimed. The research, by Professor Leslie Young, also claims that the UK Treasury’s stance on an independent Scottish economy is “the reverse of the truth”. The [...]
Chinese languages climbing up the ranks of City’s most spoken March 24, 2014 CHINESE is rapidly climbing the ranks of the most common languages spoken in the City of London, as the UK looks to capitalise on an expansion of the country’s financial sector, according to new research. Mandarin Chinese was the fourth most quoted language on City CVs during 2013, up from 8th place in the previous [...]
Bank cheers Budget’s focus on saving as UK confidence swells March 24, 2014 LLOYDS Bank has backed the recent Budget’s focus on savings, as the group records the strongest consumer confidence in at least three years. Lloyds’ latest spending power report suggests that the number of people saving some of their income has risen by a third since May last year. The bank’s headline figure for consumer confidence [...]
Three tech firms surge to $260bn on grey market March 24, 2014 THREE upcoming initial public offerings (IPOs) from tech firms King Digital Entertainment, Alibaba and Just Eat are all set to beat analyst expectations with a combined valuation of over $260bn (£158bn), according to IG’s IPO grey market. King, the British games giant and creator of Candy Crush Saga, has already hit a valuation of $8.7bn, [...]
