Job market heats up but low-paid work dominates July 28, 2013 THE NUMBER of job vacancies is still growing, but the labour market is filling up with low-paid jobs as the economy recovers, according to data released by jobs site Adzuna. The group’s report on the jobs market for June suggests that vacancies have risen by 2.5 per cent in the past 12 months, but the [...]
Global bond bubble will cripple all investors when it bursts July 28, 2013 THIS column has long highlighted the massive bubble in the global bond markets and the horrific, systemic risk it poses to the global recovery and financial system. A combination of ultra-low central bank short-term interest rates, massive amounts of quantitative easing (QE), regulatory-driven purchases of government bonds by financial institutions and Asian forex accumulation have [...]
Spending cuts to be delayed for three years July 28, 2013 GOVERNMENT spending in the UK will barely change before the next general election, according to research released today by the Centre for Economics and Business Research (CEBR). The forecasters are expecting government spending to rise by 0.4 per cent this year, correcting with cuts of only 0.2 per cent in 2014 and 2015. Significant reductions [...]
Dell founder says he will not lift bid further July 28, 2013 DELL founder Michael Dell has confirmed that he and Silver Lake Management will not raise their buyout offer for the computer maker after raising the price last week to $13.75 a share. “This is our best and final offer,” he told the Wall Street Journal. “The fact that many parties over many months looked at [...]
What the other papers say this morning – 29 July 2013 July 28, 2013 FINANCIAL TIMES Treasury pledges £2m for SFO probe The UK Treasury is expected to pledge special “blockbuster” funding to the Serious Fraud Office to back its investigation into Barclays’ emergency fundraising five years ago, in a sign of the agency’s escalating probe into the bank. The cash-strapped SFO, which launched a criminal investigation into the [...]
London housing begins to price out businesses July 28, 2013 BUSINESSES warned the government today that rising property prices could undermine investment in the capital, as firms struggle to keep up. According to the statement by the Confederation of British Industry (CBI) and KPMG, the shortage of housing has risen from companies’ third most pressing concern to their second since December, overtaking transport. The number [...]
China says 18 more people held over bribery claims against GSK July 28, 2013 CHINESE authorities have detained at least 18 people as part of an investigation into pharma group GlaxoSmithKline, according to state media. China’s state radio said police had “recently held, in accordance with the law, 18 GlaxoSmithKline (China) employees and some medical personnel”. A spokesperson for Glaxo declined to comment yesterday. Chief executive Andrew Witty said [...]
Bottom Line: Ad giants at watchdogs’ mercy July 28, 2013 RIVAL boss of ad firm Havas David Jones took to Twitter when he heard rumours of the Omnicom-Publicis deal, scoffing “oh wow just saw a flying pig”. It turns out it was no pig, it was a well-camouflaged POG: Publicis Omnicom Group, six months in the planning yet still a bolt from the blue. [...]
MPs call for full breakdown of all energy bills July 28, 2013 ENERGY suppliers should be forced to tell customers exactly how much climate change policies are adding to their fuel bill, according to a report released today by MPs. The energy and climate change select committee says industry regulator Ofgem should restore consumer confidence in the market by requiring suppliers to state how various components have [...]
Siemens boss set to be sacked in aftermath of profit warning July 28, 2013 GERMAN engineering giant Siemens is expected to sack chief executive Peter Loescher on Wednesday, after the company issued another profit warning. The company’s board said it would “decide on the early departure of the president and CEO” when it meets later this week, before appointing “a member of the managing board” as replacement. Despite this, [...]
