BRANSON: UK IS AT RISK OF JOINING THE THIRD WORLD July 8, 2012 BRITAIN will fall behind the rest of the world unless a “bold, brave” stance on airline growth is adopted by the government, Virgin founder Sir Richard Branson warned yesterday. Speaking at the launch of new Virgin Atlantic routes to Cancun and Moscow, Branson hit out at leaders who stand in the way of expansion at [...]
Labour: Changing banks should be as easy as switching phones July 8, 2012 TOP BANKS’ grip on the market would be broken if consumers could change banks as easily as they change mobile phone networks, Labour leader Ed Miliband will say today. He will also call for the big five high street banks to sell off up to 1,000 branches, allowing two smaller institutions to join the big [...]
TEARFUL MURRAY LOSES FINAL BUT WINS HEARTS July 8, 2012 AN EMOTIONAL Andy Murray insisted he is “getting closer” to winning a Grand Slam tournament after losing the Wimbledon men’s singles final in four sets to Roger Federer yesterday. Murray was widely deemed to have won over some previously sceptical fans, who have found him dour, with a gracious and tearful speech following his defeat.
Bank of England deputy faces Libor quiz from MPs July 8, 2012 PARLIAMENT will today question Paul Tucker, the deputy governor of the Bank of England, over his role in the Libor-fixing scandal that brought down top executives at Barclays bank and threatens to cause lasting damage to the reputation of the financial system. Tucker made the unusual decision to request an appearance in front of the [...]
Why it must be made much easier to switch bank accounts July 8, 2012 FOR once, Labour has got it half right. It will confirm today that it wants to make it much easier for current account holders to change bank, in a bid to empower consumers and to drastically improve competition in retail banking. The idea is to make switching bank as easy as it is changing mobile [...]
Smaller rivals pick up business after rates scam July 8, 2012 SMALLER banks and building societies are benefiting from increased current account business as consumers become disillusioned with big banks. Metro Bank saw a 30 per cent increase in new account enquiries last week, and has increased call centre manpower by 13 per cent to cope with demand. It typically opens 1,500-2,000 new accounts each week. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2012 FINANCIAL TIMES Call for French business boost French business urgently requires shock treatment to cut labour costs and boost its flagging ability to compete on international markets, top economists and business leaders have warned Francois Hollande. ArcelorMittal refuses to rule out EU steel closures as demand falls ArcelorMittal has refused to rule out further site [...]
Greek government wins approval July 8, 2012 Greece’s new conservative-led government today won parliamentary approval, but faced the much tougher task of convincing European partners and the IMF to give it more time to meet the terms of its bailout. There had been little doubt the government would sail through the confidence vote after a heated three-day debate in which it pledged [...]
Egypt to reconvene parliament July 8, 2012 Egypt’s new president yesterday ordered a parliament dominated by his Islamist party to reconvene, challenging the authority of the generals who had dissolved the assembly in line with a court order. President Mohammed Mursi’s decree appeared to catch off guard the generals who handed power to him on 30 June. State media said the army’s [...]
Permira plans £400m Birds Eye refinancing July 8, 2012 Private equity house Permira is considering a refinancing of frozen food firm Birds Eye, which would land the firm a €500m (£397m) windfall. Under the terms of the refinancing, the level of Birds Eye’s debt would expand to almost €2bn from €1.4bn. Permira, which bought the UK-based frozen food producer from Unilever for €1.6bn in [...]
