What the other papers say this morning – 7 January 2014 January 6, 2014 FINANCIAL TIMES Fall in capital flows threatens recovery The flow of money through the global financial system is stuck at the same level as a decade ago, raising fresh concerns about the strength of the economic recovery following six years of financial crisis. In mid-2007 cross-border capital inflows into the G20 group of economies were [...]
RBS to pay US another $50m January 6, 2014 US COURTS approved another $50m (£30.5m) fine for RBS Securities Japan over yen Libor fiddling yesterday, after the bank pleaded guilty to a count of wire fraud last year. RBS group paid $100m over the case in a deferred prosecution agreement last year and the final approval of the $50m means the bank has now [...]
Bumper year for car sales January 6, 2014 BRITISH new car sales grew by more than 10 per cent last year to hit a five-year high, bucking a gloomy trend in most of the rest of Europe, industry figures are expected to show today. The Society of Motor Manufacturers and Traders releases 2013 car sales figures this morning. But in a briefing late [...]
Senate backs Yellen at Fed January 6, 2014 JANET Yellen was last night approved as the new governor of the Federal Reserve by the US senate. Yellen has spoken of her desire to keep policy very loose in a bid to cut unemployment further, rather than worrying about price inflation. President Obama nominated her for the job in October and she will take [...]
Ice looks to sell Euronext chunk January 6, 2014 EXCHANGE operator Ice is trying to offload up to 30 per cent of Euronext to long-term investors before it floats the unit, Bloomberg reported yesterday. Euronext will go public later this year, but competition regulators want ICE to hold onto at least 25 per cent, unless it can sell the stake on to other long-term [...]
Business anger at plans to hike congestion levy January 6, 2014 LONDON’S congestion charge could rise from £10 a day to £11.50, under plans revealed yesterday by Transport for London that were criticised by hauliers and some business groups. The levy on motorists in central London has already doubled from £5 a day when it was launched in 2003, though TfL said the charges have been [...]
Boss-napping at French tyre factory as row over closure grows January 6, 2014 TWO BOSSES were yesterday held hostage by angry workers at tyre-maker Goodyear’s Amiens factory in northern France. The American tyre giant is locked in a long-running battle to close the loss-making plant, but faces tough pro-labour laws and strong unions which are delaying the plans. Union officials said they will not release the site’s operations manager and [...]
Marks & Spencer hit by analyst downgrades to profit forecasts January 6, 2014 MARKS & Spencer was dealt a further blow after two city brokers slashed their full-year profit forecasts for the embattled retailer, sending shares lower yesterday. Analysts at house broker Citigroup cut their full-year profit forecast by £10m to £630m after a gloomy trading statement from rival Debenhams last week, and amid fears of heavy discounting [...]
Barristers walk out over legal aid cuts January 6, 2014 CRIMINAL barristers across England and Wales staged their first ever mass walkout yesterday in protest at planned cuts to legal aid fees. Trials were delayed as lawyers protested outside major courts including the Old Bailey and Southwark Crown Court.
Strong services keep UK in top spot in Europe January 6, 2014 GROWTH in Britain’s service industries slowed slightly during December, but a major survey of firms suggests that the UK economy is still expanding at the fastest pace in western Europe. In Markit’s latest purchasing managers’ index (PMI), the UK’s headline figure dropped to 58.8, still well above the neutral 50 mark. Combined with earlier surveys [...]
