Two youngsters leave Rangers March 6, 2012 FOOTBALL: Youngsters Gregg Wylde, 20, and Mervan Celik, 21, have left Rangers but the remaining squad members are in discussions with the club’s administrators over wage cuts. Wylde and Celik, a Sweden Under-21 star, have had their offers for voluntary redundancy with no pay-off accepted. Administrators Duff & Phelps have been meeting the squad in [...]
Finance lags as recruiter grows in Asia March 6, 2012 MICHAEL Page saw 2011 revenues boosted by growth in its Asia-Pacific business, but it wasn’t enough to lift operating profits, which fell by three per cent over the year. Revenues in the recruitment specialist’s Asian operations rose 38 per cent to £166m while overall revenues hit £1.02bn – up from £832m in 2010. Chief executive [...]
Banks blame FSA for choking off credit to small businesses March 6, 2012 BANKS are stepping up their efforts to convince ministers that the FSA’s approach to regulation could permanently damage the UK economy. In a policy paper sent to the Breedon Taskforce, a special government policy unit set up to examine how to expand credit supply to small businesses (SMEs), the banks slam the FSA for choking off [...]
Swiss parliament votes to weaken bank secrecy March 6, 2012 SWITZERLAND’S parliament has passed a proposal that aims to settle an ongoing dispute with the US over the tax evasion involving hidden offshore accounts. The lower house agreed to back the plan – which clarifies how Switzerland would hand over data on Americans suspected of dodging taxes at home – by 110 votes to 56. [...]
Long-term growth takes time to pay March 6, 2012 IT’S becoming a familiar story by now. Recruiters who built their businesses by focusing on the UK and its once lucrative financial services sector are having to turn their back on the past in search of growth pastures new. Michael Page’s results only cement the increasingly downbeat picture of City jobs – financial services is [...]
Nissan in jobs boost but GM fears mount March 6, 2012 BRITAIN will build at least an extra 100,000 Nissan cars each year after the Japanese firm agreed to invest $200m (£127m) in its Sunderland site. Production of the Invitation hatchback will begin in the middle of next year in a boost to the automotive industry, which is becoming more anxious over the future of General [...]
Peugeot offers big discount on shares March 6, 2012 FRENCH carmaker PSA Peugeot Citroen announced the terms of a €1bn (£832m) share sale to fund its alliance with General Motors, offering a big discount to draw in funds for overseas expansion and new models. GM and Peugeot announced an alliance last week to co-operate on developing new cars with the aim of saving $2bn [...]
New car sales fall in February March 6, 2012 BRITISH new car sales edged down 2.5 per cent on the year in February to 61,868 vehicles, the Society of Motor Manufacturers and Traders (SMMT) said yesterday. However, February typically accounts for just 3.3 per cent of annual new car registrations, ahead of the registration plate change in March. “The March market will provide a [...]
Porsche staff in fraud case March 6, 2012 GERMAN state prosecutors have charged three employees at Porsche with credit fraud, the latest fallout from a legal dispute alleging the sportscar maker illegally cornered the market in Volkswagen shares in 2008. The unnamed Porsche employees are accused of giving false information about the number of options Porsche held on Volkswagen ordinary shares during talks [...]
Recession looms as investors cut back March 6, 2012 HOUSEHOLD spending, investment and exports all fell in the final quarter of 2011, official statistics confirmed yesterday, prompting fears the Eurozone will suffer months of slow growth or even recession. The broad based decline in activity dragged GDP down 0.3 per cent in the last three months of the year, compared with expansion of 0.3 [...]
