Zoellick goes to Goldman October 7, 2013 FORMER World Bank president Robert Zoellick is to head up Goldman Sachs’ board of international advisers, the investment bank said yesterday. Goldman hopes Zoellick’s experience in emerging markets and development economics will help it and its clients operate in high-growth regions. The Washington DC-based job will see Zoellick offer advice on global strategic issues, overseeing [...]
Osborne moves aides into top ministerial jobs October 7, 2013 GEORGE Osborne last night emerged as the main winner of a government reshuffle that barely touched cabinet positions but shuffled dozens of second-tier jobs. Allies of the chancellor were yesterday placed in key roles across ministries with an economic role – and also within the whips office – tightening Osborne’s control on the government’s agenda. Sajid Javid, [...]
Miliband moves to purge Blairites October 7, 2013 LABOUR leader Ed Miliband yesterday shuffled his front bench team, demoting well-known Blairites and moving a vocal backer of the High Speed 2 railway. Shadow work and pensions secretary Liam Byrne was sacked, Jim Murphy lost his defence brief and moved to international development, while education minister Stephen Twigg was replaced by historian-turned-MP Tristam Hunt. Shadow transport [...]
Manufacturing to boost growth in third quarter October 7, 2013 MANUFACTURERS are reporting some of the strongest growth on record, according to the most recent quarterly survey by the British Chambers of Commerce (BCC). Released today, the report shows some of the strongest balances ever seen by the manufacturing sector, beating every quarter since 1989. Indexes for employment, cashflow, turnover confidence and operating at full [...]
Nick Clegg launches defence of UK’s membership of the EU October 7, 2013 DEPUTY Prime Minister Nick Clegg will today call for a “coalition for the national interest” to defend Britain’s membership of the EU in the face of growing Euroscepticism. The Deputy Prime Minister and Liberal Democrat leader has written to more than 100 leading organisations calling on them to publicly declare why Britain is better off in Europe. [...]
Top MPs call for HS2 plans to be put on ice pending review October 7, 2013 THE CASE for the High Speed 2 rail project is full of holes and must be calculated again before work can begin, an influential committee of MPs said yesterday. The Treasury Select Committee expressed shock at budget hikes even before building work has started, and want confirmation of the forecast benefits of the north-south rail [...]
M&S stock falls on analyst cut October 7, 2013 A STRING of broker downgrades hit shares in retailer Marks & Spencer yesterday, as analysts fretted over the chances of boss Marc Bolland’s autumn-winter clothing collection. Credit Suisse expects M&S to post a steep fall in first-half profits, with a 1.5 per cent drop in general merchandise sales. And Deutsche Bank cut forecasts for the [...]
Aviation guru says UK needs new runways October 7, 2013 BRITAIN needs new runways in the south east to keep up with the rest of the world, the head of the government’s airports commission said yesterday as he revealed the panel’s opinions for the first time. Sir Howard Davies said there was a strong case for expanding UK air capacity, even if traffic rises less [...]
Man Group shares rollercoaster after fund concerns resurface October 7, 2013 HEDGE fund Man Group bounced back from a share price plunge yesterday despite continuing concerns about the performance of its flagship fund. Man, led by chief executive Manny Roman, fell to its lowest price since mid-June in early trading after Man AHL Diversified fund said it lost two per cent for the last week in [...]
Tesco hit by ratings warning as it unveils refreshed luxury range October 7, 2013 TESCO yesterday relaunched its Finest range of luxury produce, though the redesign was not enough to stop a debt rating warning from Moody’s last night. The supermarket, which spent tens of millions of pounds and the better part of a year on the redesign, has recently lost out on UK sales growth to both the [...]
