Bank of England holds rates as inflation expected to rise again January 10, 2013 THE BANK of England decided to keep interest rates steady yesterday, and economists predict rising inflation will stop the Monetary Policy Committee (MPC) from printing more money any time soon. The economy is believed to be stuck in a “zig zag” of quarters of growth followed by quarters of contraction or stagnation. But high inflation [...]
BAE’s monitor hired for review at Rolls-Royce January 10, 2013 ROLLS-ROYCE has hired a former Herbert Smith senior partner who monitors compliance at BAE Systems to conduct a review of its own compliance procedures after claims of bribery and corruption overseas. Lord Gold of Westcliff-on-Sea, who spent 38 years as a solicitor at the law firm including five years as senior partner, will look into [...]
Germans warn Britain over EU January 10, 2013 GERMAN MPs yesterday warned Britain must not indulge in “blackmail” as it attempts to negotiate a looser relationship with the European Union. Gunther Krichbaum, an ally of German chancellor Angela Merkel, yesterday visited London and warned it would be “economic disaster” for Britain to quit the 27-member bloc. “You cannot create a political future if you [...]
Ford doubles dividend to seven year high on good balance sheet January 10, 2013 US CAR maker Ford yesterday doubled its quarterly dividend to 10 cents per share, a seven-year high, due to strong sales in North America and its “strong balance sheet”. The increase follows years of struggling during the economic crisis, when Ford suspended its dividends for five years up until December 2011. “We had thought that [...]
Clegg hints at state pension cuts January 10, 2013 Nick Clegg yesterday told reporters that all major political parties would fight the 2015 election on an austerity platform and cuts to the state pension would be included in all manifestoes. The Deputy Prime Minister said it is unjustifiable to continue universal pension payments to some of the richest people in society and protecting them [...]
BlackRock buys Credit Suisse unit January 10, 2013 BlackRock is to buy Credit Suisse’s exchange-traded fund (ETF) business, which will give the US asset manager greater scale in Europe. The price tag on the deal, announced yesterday, was not disclosed, but two sources familiar with the matter put it at between $200m (£123.8m) and $300m. For Credit Suisse, the disposal marks another step [...]
Brown calls for speedy restart of rail contracts January 10, 2013 A REVIEW commissioned in the wake of the West Coast franchising fiasco has called for changes to the bidding process, including a hiring drive to bring more experienced staff into the Department for Transport. Former Eurostar boss Richard Brown used his report, published yesterday, to call for passenger satisfaction to be taken into account when [...]
Boris sets out airport criteria January 10, 2013 BORIS Johnson yesterday said he will present a shortlist of potential sites for airport expansion to the government as early as this year, the latest move in his campaign for more flight capacity for the south east. The Mayor of London also published proposed standards that a hub airport site must meet before being put [...]
Shoreditch set for £75m facelift January 10, 2013 PLANS were submitted this week to regenerate a site in London’s East End that has lain derelict for more than 30 years into a new £75m commercial hub. The proposed scheme, known as Shoreditch Village, will create 150,000 square feet of commercial-led space, including a 180-bed hotel, 20,000 sq ft of offices, 42,000 sq ft [...]
Gangnam Style makes its way to Norton Rose January 10, 2013 SOUTH Korean rapper Psy’s song Gangnam Style may have broken a Guinness world record and received over 1bn hits on YouTube. However the latest parody of the video’s horseriding dance has come from an unexpected source. Lawyers at Norton Rose’s Hong Kong office have produced their own version of the viral video, and even posted [...]
