We need to stop playing politics with aviation and go for growth December 11, 2013 IT is time for our political establishment to get its act together and take the tough decisions this country needs. The case in favour of airport expansion is overwhelming. Britain has failed to build a single new full-length airport runway anywhere in the South East of the country since the Second World War (City Airport, [...]
What the other papers say this morning – 12 December 2013 December 11, 2013 FINANCIAL TIMES Nigeria’s missing $50bn oil cash A letter from the Central Bank of Nigeria suggests that the state oil company has failed to account for nearly $50bn in crude oil sold between January 2012 and July 2013 that should by law have been remitted to government coffers. The alleged shortfall amounts to 76 per [...]
Facebook gets S&P 500 listing December 11, 2013 SOCIAL network Facebook will join the S&P 500 index at close of trading on 20 December. It will replace Teradyne, a technology company. Facebook shares rose nearly four per cent in after-hours trading as a result of the announcement, which comes 19 months after the company started trading on the Nasdaq Stock Market. Shares in the [...]
Ashtead joins FTSE 100 index December 11, 2013 INTERNATIONAL equipment rental company Ashtead will join the FTSE 100 for the first time at close of trading on 20 December. The news comes as natural resources company Vedanta Resources and Croda International, a specialist chemical company both drop out of the index. Ashtead has seen its share price rise 66 per cent this year, [...]
StanChart faces questions over pace of cost cuts December 11, 2013 STANDARD Chartered, the emerging markets bank, is being urged to start taking costs out of the business as soon as possible in the hope of avoiding the need for a cash call in the New Year. “The management has got to take the market’s concerns more seriously than it is currently,” said one source close [...]
Lloyds fined for rewarding staff who mis-sold December 11, 2013 LLOYDS was fined £28m yesterday for encouraging staff to mis-sell insurance on investment products in the years leading up to 2012. Staff were given bonuses and promoted even when the bank’s own studies found evidence of inappropriate selling, the Financial Conduct Authority (FCA) said. And the bill was increased by 10 per cent because the bank had [...]
EU set to fast track bank bailout rules in bid to protect taxpayers December 11, 2013 EUROPEAN taxpayers will no longer pay for banks’ mistakes, Michel Barnier said last night after the EU reached a deal to speed up the introduction of a landmark law aimed at stopping further state-sponsored bailouts. The law, if approved by EU ministers, will make losses for senior bondholders and large savers a permanent feature of [...]
Boris struggles to contain anger over leaked Heathrow decision December 11, 2013 LONDON mayor Boris Johnson has spoken out after leaked details of Sir Howard Davies’ report on airport capacity in the south east revealed he is concentrating solely on Heathrow expansion. Johnson called the decision to focus on Heathrow rather than explore other options a “catastrophic mistake” and said he had engaged with the review process [...]
First time buyer surge adds to market uplift December 11, 2013 THE NUMBER of first time buyers has surged by three quarters over the past year, as a surge of activity in the housing market pushes prices even higher, especially in London. Estate agents Haart reveal today that, the number of first time buyer registrations has risen 78.4 per cent in November 2013, compared to the [...]
London accounts for over a fifth of UK’s total economic output December 11, 2013 LONDON has bounced back strongly from the economic downturn, while the rest of the south east is also faring well. The south east, excluding London, showed the fastest growth per head last year out of all the UK’s countries and regions. Its gross value added – known as GVA – was up 2.5 per cent [...]
