FARMVILLE DEVELOPER CLOSES IN ON FLOAT November 30, 2011 Zynga, the developer behind Farmville, has pencilled in a date for its much-anticipated IPO. The firm is starting a roadshow next week, with a view to pricing its shares on the Nasdaq on 16 December. The listing of around 10 per cent of the firm is likely to value the company at a lower-than-expected $10bn [...]
Demand for new laws to defeat unions November 30, 2011 THE coalition is under pressure to introduce new curbs on industrial action as fears grow that union bosses will call a series of winter strikes despite winning the backing of only a minority of members. Dominic Raab, a prominent Tory backbencher, told City A.M. there was an “overwhelming” case for extra “safeguards” after a day [...]
FACT CHECKER | WITH TIM WALLACE November 30, 2011 “Public servants are being asked to accept a permanent deep cut in their living standards,” thundered TUC boss Brendan Barber. Meanwhile George Osborne described the public pay freeze up to 2015 and the one per cent cap on increases in the two years after that as “fair to those who work to pay the taxes [...]
SHOULD STRIKING BE MADE HARDER? November 30, 2011 NICK RADFORD | ROBERT MALATIER “Yes, the requirements should be harder. They have the same problems we do, but we don’t complain about it. We aren’t going to get what we expected in pensions.” SERDAR SENGUL | ISBANK “I don’t think so, because even if it is only 15 per cent voting, they have a [...]
IFS warns of lost decade in wage growth November 30, 2011 INCOMES will be lower in 2016 than they were in 2006, the Institute for Fiscal Studies warned yesterday, following the downgraded economic growth forecasts. The sharpest drop is expected to come in the three years from 2009 to 2012, with real household disposable income declining by 4.7 per cent over the period – a record [...]
Osborne’s plans for recovery November 30, 2011 THIS week we’re asking our panel members for their response to chancellor George Osborne’s Autum Statement, in which he outlined his plans to cut the government’s deficit and promote UK growth. We want to know whether you think Osborne’s plans are viable – from the £5bn planned for infrastructure investment and tax breaks for individuals [...]
More jobs in US as economy still outperforms EU November 30, 2011 BUSINESS activity shot up in the US in November, according to the Chicago purchasing managers’ index (PMI), while companies created the most jobs in nearly a year according to the ADP national employment report, both out yesterday. The PMI rose to 62.6 this month, up from 58.4 in October. Such a strong jump represents a [...]
Dire markets hit Panmure November 30, 2011 TIM Linacre yesterday announced he would be standing down as chief executive of Panmure Gordon, one of the City’s oldest stockbrokers, following a profits warning. Linacre’s decision follows a period of 18 months during which he has been discussing succession planning with the company’s board and its 44 per cent Qatari shareholder. The broker said [...]
The City veteran who is yearning to return to working with clients November 30, 2011 WHEN Tim Linacre moves aside to make way for a new chief executive, the City will be losing one of its best known characters. Except that he won’t disappear from the Square Mile altogether, according to the plans, for the 53 year-old will be getting back to what he knows best; he will be servicing [...]
Lenders pursuing Battersea owner November 30, 2011 LENDERS to Battersea Power Station could force parts of its owner into administration, after running out of patience over loan repayments. Creditors including Lloyds Banking Group and Ireland’s National Asset Management Agency have applied to send some arms of the Battersea Power Station Shareholder Vehicle (BPSSV) into administration after the group said it could not [...]
