Greece to miss debt targets October 2, 2011 GREECE is set to miss its deficit targets for both this year and next, its finance ministry admitted last night. Finance minister Evangelos Venizelos said that the deficit is due to come in at 8.5 per cent of GDP this year, almost a whole percentage point above the 7.6 per cent target agreed with Greece’s [...]
It’s make or break for the Tory party October 2, 2011 POLICIES to boost growth. That is what the Conservative Party conference, which started last night, must focus on. Growth has ground to a halt, partly because of global forces but also because too little has been done to make the UK once again a competitive place in which to work, invest and operate a business. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 2, 2011 FINANCIAL TIMES BTG GAINS TOP BANKER AS IT EYES EXPANSION Roger Jenkins, the high-profile former Barclays executive, has joined BTG Pactual as a managing partner as Brazil’s largest independent investment bank and asset manager gears up its ambitious expansion plans. Jenkins, a star banker best known for orchestrating a £7bn fundraising for Barclays from Middle [...]
Slovakia in EFSF vote challenge October 2, 2011 Slovakia’s ruling coalition will have to reallocate cabinet posts or face a snap election unless it can find its own majority in parliament for a crucial vote on the Eurozone’s rescue fund, the main opposition party Smer said yesterday. The Eurozone’s second poorest country of 5m people has become a major risk to the bloc’s [...]
Bob Pittman to lead Clear Channel October 2, 2011 US radio and advertising company Clear Channel Media Holdings has promoted Bob Pittman to chief executive. Pittman, a well-known media executive and investor, has been Clear Channel’s chairman of media and entertainment platforms since November 2010. Clear Channel owns an outdoor advertising space business in the UK.
Aviva: Charter bid shows UK M&A skewed October 2, 2011 THE “disappointing” outcome of the takeover battle for Charter International shows that UK M&A deals are still too skewed in favour of short term investors, the £269bn fund manager Aviva Investors has said. Aviva’s UK equities fund manager Graham Elliott-Shircore said Charter’s shareholder base changed as short-term investors bought in during the bid period, leaving [...]
CBI says 8,000 City jobs will be lost by the end of 2011 as costs are cut October 2, 2011 THOUSANDS of jobs are expected to go in UK financial services as the sector looks to cut costs, according to a report out today from the Confederation of British Industry (CBI) and PwC. Investment managers, insurers, banks and traders are all expected to cut jobs, the survey found, with the employment outlook only improving in [...]
Five bidders in running for iconic music firm EMI October 2, 2011 EMBATTLED EMI is set to attract at least five second-round bids, boosting owner Citigroup’s hopes of offloading the asset. Buy-out specialist Ronald Perelman has emerged as a leading contender, alongside Warner Music, Vivendi-owned Universal Music, BMG and Sony/ATV, which are all expected to table bids for all or part of the firm. Warner and Universal [...]
EMI RUNNERS AND RIDERS October 2, 2011 BMG chief executive Hartwig Masuch, buy-out specialist Ron Perelman, Warner Music boss Stephen Cooper and Universal Music chief executive Lucian Grainge are all mulling bids for EMI. Sony/ATV, also in the running, is half owned by the Michael Jackson Family Trust
City says Conservatives are not doing enough to promote growth October 2, 2011 THE Tories are not doing enough to promote economic growth, according to the overwhelming majority of panellists on the City A.M./ PoliticsHome Voice of the City panel. Sixty-nine per cent of panellists said the Tories were not doing enough to promote growth in the economy, against just twenty-nine per cent who thought they were. Two [...]
