S&P rating cut looms for EFSF December 6, 2011 EUROPE’S financial stability facility could be downgraded because its guarantors’ credit ratings are all looking shaky, Standard and Poor’s said yesterday, endangering any future efforts to save indebted governments. The warning came as French Prime Minister François Fillon claimed a Eurozone break-up could cost “25 per cent of GDP for the strongest countries and about [...]
Greek leaders agree budget December 6, 2011 GREECE’S new coalition government last night passed an austerity budget for 2012, aimed at shrinking its debt mountain with tax hikes and spending cuts. Three major parties backing technocrat Prime Minister Lucas Papademos solidly voted for the budget plan, a package of deeply unpopular measures needed to cut the deficit and show foreign lenders the [...]
IRELAND PASSES AUSTERITY PLAN AS IT LOWERS GROWTH OUTLOOK December 6, 2011 Ireland’s coalition government yesterday announced €1.6bn (£857m) worth of tax increases in the second part of what it hopes will be the toughest budget of its five-year term of office. Minister for finance Michael Noonan (left) aimed the government axe at social welfare payments, the health sector and education, with fuel and rent allowances, disability [...]
AVB FUMES, DROGBA BLOOMS December 6, 2011 Victory provides ‘slap in the face’ for Chelsea’s critics CHELSEA 3 vs VALENCIA 0 CHELSEA manager Andre Villas-Boas launched a blistering attack on perceived media “persecution” after swerving a premature Champions League exit and emerging as surprise winners of Group E. Two goals and a vintage performance from Didier Drogba, plus a third from Ramires, [...]
Blues manager has Roman’s trust December 6, 2011 HE’S FAR from out of the woods yet, but emerging from such a high-stakes match is a monumental boost to Chelsea manager Andre Villas-Boas. Elimination at the group stage would have represented the club’s worst ever Champions League performance, and would only have amplified calls for the Portuguese rookie to go sooner rather than later. [...]
MATCH ANALYSIS December 6, 2011 KEY MOMENT Tension swirled around this match during the build-up to this must-win clash for Chelsea, but it dissipated after less than three minutes. Daniel Sturridge swung the ball from right wing to back post, Juan Mata, playing against his former side, laid off to Didier Drogba and the evergreen Ivorian drilled past the hapless [...]
Osborne aims to reward the risk-takers December 6, 2011 BRITAIN’S entrepreneurs will have to prove their risk exposure to take advantage of a series of new tax breaks, according to draft rules published yesterday. The Treasury will allow larger firms to apply for venture capital trust and enterprise investment scheme (EIS) benefits from April next year, providing the plan meets European Union rules on [...]
A £2bn tax cut shouldn’t be sniffed at December 6, 2011 CREDIT where credit is due. We are always quick to criticise the fiddly micro-measures so beloved by the Treasury, mere baby steps that do nothing to boost the competitiveness of UK Plc. But when it comes to corporation tax, the coalition has made great strides. By 2015-16, the exchequer will collect some £2bn less in [...]
FROM LBW TO MBE | Cook’s Royal recognition December 6, 2011 ENGLAND batsman Alastair Cook admitted he was extremely “humbled” to have been presented with an MBE by the Queen yesterday. The 26-year-old was recognised for his outstanding contribution during last winter’s Ashes triumph in Australia, during which he amassed 766 runs in just seven innings. He said: “It’s been a fantastic couple of years. For [...]
Euro naivety cost us dear, says Wenger December 6, 2011 OLYMPIACOS 3 vs ARSENAL 1 ARSENAL manager Arsene Wenger admitted he was “annoyed” after watching his side’s unbeaten run in this season’s Champions League evaporate following an error-strewn performance in Athens. Already through and guaranteed of top spot in Group F, defeat still came at a cost with reserve goalkeeper Lukasz Fabianski and first-choice left-back [...]
