G20 aims to boost output by $2 trillion in five years February 24, 2014 FINANCIAL HEADS of some of the world’s largest economies have agreed to target an extra $2 trillion in GDP growth over the next five years – two per cent higher than the current expected rate of output. The G20 nations want to hike output by $2 trillion (£1.2 trillion) collectively over the next half a [...]
Russia must back down over Ukraine to avoid a catastrophe February 24, 2014 VLADIMIR Ilyich Lenin was a monster. He was a central theorist of communism, a key player in the Bolshevik revolution, a commissar, a leading instigator of the Red Terror and other massacres, and the first leader of the Soviet Union. For decades, busts of Lenin adorned the communist empire; they were finally torn down in [...]
Business group: £12bn has been lost by EU treaty February 24, 2014 THE LISBON treaty has racked up a £12.2bn bill for UK businesses since it was ratified by the European Union in late 2009, according to new research released this morning. Campaign group Business for Britain also says that regulatory effects from the major EU agreement will cost firms £6.1bn each year from now on. The [...]
UK cabinet in Scotland backs energy report February 24, 2014 PRIME Minister David Cameron will today pledge to maximise the economic benefits from North Sea oil and gas and give the go-ahead for a new regulator, as the UK government bolsters its argument against Scottish independence ahead of the referendum. At a cabinet meeting in Scotland – the second time the entire UK cabinet will [...]
What the other papers say this morning – 24 February 2014 February 23, 2014 FINANCIAL TIMES Deutsche Bank plans to cut US assets Deutsche Bank has for the first time laid out its plans to slash its US balance sheet as it seeks to allay concerns over how it would deal with tough new rules imposed by the Federal Reserve on foreign banks. The lender aims to reduce assets [...]
Hester plots RSA rights issue to shore up capital February 23, 2014 RSA GROUP’S new chief executive Stephen Hester is set to launch a full blown rights issue this week, raising the stakes in his bid to strengthen the troubled insurer’s balance sheet. Hester, who took the reins of the FTSE 100 firm last month, is hoping to raise £1bn through a rights issue, the sale of [...]
Tesco to scrap profit target to revive UK sales February 23, 2014 TESCO is set to abandon its industry-leading profit target as it attempts to win back customers and revive flagging UK underlying sales. At an investor event tomorrow, chief executive Philip Clarke is expected to announce it will not stick to its 5.2 per cent margin guidance – the highest in the country – so it [...]
Just-Eat dials up bid to debut on growth market February 23, 2014 FAST food site Just-Eat is sharpening plans to list on the new high-growth segment (HGS) of London’s main stock market, making it the first company to join the fledgling platform if it pulls the trigger on the plans. The company’s backers are understood to be examining a proposal to offload just 10 per cent of [...]
UK prosecutors handed power to use plea bargains for corporates February 23, 2014 BRITISH prosecutors will have new powers from today to offer US-style plea bargains to companies accused of corporate crimes, in return for penalties and concessions. Deferred Prosecution Agreements (DPAs) will allow firms to avoid prosecution for crimes including corruption and fraud if they agree to certain conditions. These could includes fines, compensation for any victims, [...]
Q and A: High growth segment February 23, 2014 Q What’s the High Growth Segment? A It’s an attempt by the London Stock Exchange to keep British technology firms in the country, rather than waving off the UK’s next answer to Google as it takes the well-trodden path to the Nasdaq or NYSE once it becomes big enough to list. Q What makes it [...]
