Lord Turner admits error in arguing for the euro October 23, 2011 LORD Adair Turner, chairman of the Financial Services Authority, yesterday admitted he “was wrong” to argue Britain should have joined the euro. Turner, a former director general of the Confederation of British Industry, argued in a 2002 paper that “joining the euro would increase our incomes and our standard of living.” “At each stage the [...]
Google could mount a shock Yahoo bid October 23, 2011 GOOGLE has emerged as a surprise potential suitor for embattled Yahoo, with the search giant understood to be in talks with private equity backers over a possible deal. The prospective partners are thought to have held preliminary discussions in which Google could partly finance a deal but have not come up with a formal proposal [...]
Slowdown in Chinese economy would be bad for the UK and Europe, says our panel October 23, 2011 A SLOWDOWN in the Chinese economy would be “unhelpful” to both the UK and Europe, according to the majority of participants in our latest Voice of the City poll, run in association with PoliticsHome.com. Seventy-one per cent of our panel said a slower Chinese growth would be either very or somewhat unhelpful to the Western [...]
Canada vows to defend its interests over oil sands being called pollutants October 23, 2011 CANADA warned yesterday it will “defend its interests” if the European Union (EU) goes through with a proposal to rank Canadian oil sands as a highly polluting fuel. In a letter to EU Energy Commissioner Guenther Oettinger, Canadian Natural Resources Minister Joe Oliver also said the European Commission’s Fuel Quality Directive (FQD) potentially violates the [...]
Tech City gets law firm boost October 23, 2011 LAW firm Taylor Wessing is set to become the first professional services firm to join the east London Tech City project. The company will open a dedicated office there, from which it hopes to attract business from the growing technology hub. Taylor Wessing says it already acts for a number of the fastest growing technology [...]
Auditors quit over Olympus payments October 23, 2011 KPMG, the auditors of the British medical equipment company at the heart of the Olympus scandal, quit last year over a series of mysterious payments made to the Cayman Islands. Last week, Olympus’ former chief executive turned whistleblower Michael Woodford sent the technology firm’s share price plummeting after claiming he was fired after questioning $1.3bn [...]
Hungarians protest at cuts October 23, 2011 Tens of thousands of Hungarians protested in central Budapest yesterday against the centre-right government, demanding more transparent legislation and protection for the country’s free-market democracy. The rally was timed to coincide with the 55th anniversary of Hungary’s 1956 revolt against Soviet rule. Protesters, organised mainly through Facebook, came from a loose alliance of liberal intellectuals [...]
TUNISIANS FLOCK TO VOTE IN FIRST ELECTION October 23, 2011 Tunisians flocked to the country’s first democratic election yesterday, with officials estimating 90 per cent of the 4.1m people registered to vote turned out at the polls, as well as many who had not registered in advance. Even Nejib Chebbi (left), head and founder of Tunisia’s Progressive Democratic Party (PDP) waited in line.
Kesa mulls move to quit London listing October 23, 2011 KESA Electricals is considering quitting the London Stock Exchange in favour of a Paris listing once it has sold its troubled Comet business. Moving the group to France would help it to avoid constant comparisons with Britain’s retail sector, a shift some major shareholders would view as beneficial. It could also change its name to [...]
Paranormal 3 jolts box office October 23, 2011 Horror movie “Paranormal Activity 3” jolted awake a sleepy movie box office with an estimated $80m (£50.2m) in global ticket sales over the weekend. The third instalment of the low-budget haunted house movies topped domestic charts with $54m from US and Canadian theatres, the highest-grossing domestic debut for a horror film and a record for [...]
