UK manufacturing in slowdown December 5, 2011 British manufacturers report that output is growing at its weakest pace in nearly two years and expect it to stagnate early next year, held back by worries about the euro zone and weak demand at home, a survey showed. The EEF, the main trade body for UK manufacturers, cuts its 2012 growth forecast for the [...]
Calls for PM to protect the City December 4, 2011 A RECORD 49 new EU regulations are about to hit the City, prompting calls from industry groups, think-tanks and Tory MPs for David Cameron to do more to protect British interests at a European level. A tidal wave of rules, covering areas from derivatives trading to the location of clearing houses and short-selling to insurance, [...]
Life science firms to get £180m fund December 4, 2011 DAVID Cameron will today unveil a new £180m fund to help firms in the life science sector bring their products to market more quickly, as part of a new strategy designed to boost Britain’s biomedical industry. The Prime Minister hopes the fund will help bridge the so-called “valley of death” – the period between when [...]
City vacancies tumble again December 4, 2011 CITY vacancies shrank by 16 per cent in November, with candidates facing the toughest competition for years. There are now five qualified candidates for every available post, according to figures published by financial services recruitment firm Astbury Marsden today. The firm said the ratio of candidates to vacancies is at its highest since December 2008, [...]
Central bank independence won’t last December 4, 2011 SLOWLY but surely, the case for central bank independence is being undone. It may not look like it, with central bankers being afforded even greater powers than before the recession, but we are probably at the high watermark of their influence and autonomy. At some stage, as it becomes clear that monetary policy has turned [...]
Clegg targets CEO pay December 4, 2011 NICK Clegg, the deputy Prime Minister, yesterday said the government was prepared to introduce new legislation that could force listed firms to change the way they determine pay awards for top executives. Clegg said the government would publish a set of proposals in January, adding it was willing to introduce new laws that could force [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 4, 2011 FINANCIAL TIMES SURGE IN UK CORPORATE BONDS Sterling corporate bond issuance is soaring, but euro-denominated bond sales are at a six-year low – as more companies turn to the relative stability of the London market amid Europe’s financial turmoil. UK and international companies have sold more than $42bn worth of sterling-denominated bonds so far this [...]
US denies Iran shot down drone December 4, 2011 Iranian media reported yesterday that their country’s military had shot down a US reconnaissance drone in eastern Iran, but a US official said there was no indication the aircraft had been shot down. NATO’s US-led mission in Afghanistan said the Iranian report could refer to an unarmed US spy drone that went missing last week. [...]
Bondholder losses may be eased December 4, 2011 Germany is prepared to soften language in the Eurozone’s permanent bailout mechanism compelling bondholders to accept losses in exchange for much stricter budget rules, sources have said. The shift would not completely remove the possibility of private bondholders having to accept losses in the future, but it would align the statutes of the European Stability [...]
Monti’s marvellous medicine December 4, 2011 TOUGH tax hikes and spending cuts were announced last night as Italy’s technocratic Prime Minister unveiled his plan to get the country’s colossal debts back under control. The €20bn (£17.2bn) fiscal package was presented after a cabinet meeting. The retirement age is set to rise, income tax on the rich will be hiked and a [...]
