Taxman now takes 66p per pound at the pumps November 14, 2011 THE GOVERNMENT took 66p of every pound spent at the petrol pumps in the financial year 2009-10, the Office for National Statistics said yesterday. The figure was up from 62p in the pound in 2008-09, partly due to higher taxes, including VAT. Yet rising fuel prices mean that the proportion of petrol costs taken by the government [...]
TUC attacks funds on salaries November 14, 2011 Remuneration is the topic most likely to stir up disagreement between company management and institutional investors, according to a study released today by the Trades Union Congress (TUC) today. However, the report also found bank remuneration was particularly strongly supported. Barclays led the field with 75 per cent of fund managers backing its remuneration. The [...]
OECD says global growth slowing November 14, 2011 Countries that have been growing strongly, including Japan, Russia and the US, are set to slow down towards their long-term trend rate, according to a report out yesterday from the Organisation for Economic Co-operation and Development (OECD). Meanwhile, economies like the UK, Brazil, China and the Eurozone are expected to fall below their long-term trend [...]
Japanese growth spurt set to subside November 14, 2011 A BOOM in Japan’s economy from July to September has taken GDP to levels higher than those seen before the earthquake and tsunami in March. However, many economists believe the growth spurt was largely a rebound from March’s disaster. The economy expanded by 1.5 per cent in the third quarter, according to official figures. Domestic [...]
Help today’s recovery with 1930s-style housing boom November 14, 2011 THE ECONOMY can grow healthily alongside cuts in the government’s annual deficit, the liberal think-tank Centre Forum will argue today. Using the 1930s as a previous example, the group says that low real interest rates and an absence of strict planning laws led to a housing boom that helped stimulate recovery from the Great Depression. [...]
Umunna: Rewards for workers November 14, 2011 Workers need a greater stake in businesses, and firms need to consider their communities more, Labour’s new shadow business secretary Chuka Umunna said yesterday. Productive, competitive firms who invest in staff development are good for society as a whole, he said. “If markets are generating greater wealth and distributing it efficiently, fewer people will have [...]
Eastern Europe surviving slump November 14, 2011 The economic outlook for central and eastern Europe, the middle east and Africa (CEEMEA) has been downgraded as a result of the Eurozone crisis, UBS said yesterday. However, the countries are performing better than their richer counterparts. “Fundamentals within the regions’ corporates remain healthy,” the report said. UBS does warn of increased volatility as a [...]
Interserve to get lift from UK contracts November 14, 2011 INTERSERVE said yesterday it had won support contracts worth a potential £420m from the Ministry of Defence, bringing its total contract wins since June to more than 600m. The construction and outsourcing firm said it would provide mechanical, electrical and building services to the Falklands, Ascension Island, Cyprus and Gibraltar for at least five years. [...]
Robert Wiseman Dairies hit as rise in inflation continues November 14, 2011 ROBERT Wiseman Dairies has posted a 42 per cent fall in pre-tax profit for the first half as it continued to be hit by input price inflation, and said a tough economy was making it more difficult to recover these increased costs. The Scottish dairy group, which has grown from a humble beginning in Robert [...]
Cranswick suffers as costs rise November 14, 2011 British pork supplier Cranswick posted a 22 per cent fall in first-half profit, hurt by higher input costs, and said it was cautiously optimistic about the second half. “The company faced significant increases in input costs during the first three months of the period. This had a material impact on margins and, despite some recovery [...]
