Cipriani makes early Oz exit April 30, 2012 ■ RUGBY UNION: Fly-half Danny Cipriani has left Australian side Melbourne Rebels to make an early start at Sale as he attempts to return to the England fold. Cipriani, who agreed a deal to join the Premiership club in March, was expected to stay in Australia until their season’s end. “I’ve made no secret of [...]
Donald predicts short reign April 30, 2012 ■ GOLF: England’s Luke Donald imminently expects to relinquish his position as world No1 to Rory McIlroy after regaining top spot on Sunday with his third-placed finish in the Zurich Classic. “It’s been going back and forth a little bit. Rory’s turn next week,” said Donald.
Legal firms hit by fresh downturn April 30, 2012 LONDON’S increasingly embattled legal sector suffered a further blow yesterday, as magic circle stalwart Slaughter and May froze associate salaries and Herbert Smith announced 51 redundancies in its City office. Only second-year associates at Slaughters will see their pay packets rise, though by less than one per cent, while salary bands for the firm’s other [...]
Eurozone crisis erupts as recession spreads April 30, 2012 SPAIN confirmed yesterday that it had slipped back into a technical recession during the first three months of the year, kicking off a gloomy start to the week as a slew of downbeat data renewed fears over the single currency area. Eurozone woes were compounded by figures from crisis-struck Greece, which showed retail sales are [...]
Regulator faces backlash on expensive new offices April 30, 2012 THE BANK of England is spending millions of pounds extra to house the Prudential Regulation Authority (PRA) a few hundred yards away in Moorgate, instead of keeping it a short DLR journey away in Canary Wharf, it was announced yesterday. However, financial services groups and MPs denounced the move as “lavish” at a time when [...]
It’s time for supporters of the single currency to apologise April 30, 2012 SOME of the stories coming out of the Eurozone are heart-breaking. Greece’s retail sales are down 13 per cent over the past year, a tragic and all too painful collapse for millions of families. Economists sometimes compare the UK’s recession with the great depression: while technically true in various narrow, statistical ways, such a parallel [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 30, 2012 FINANCIAL TIMES Airline levy could aid UK border chaos Airlines using London’s Heathrow airport would pay higher landing fees to help sort out Britain’s border chaos under a plan backed by David Cameron. BAA, Heathrow’s owner, is studying the proposal, which foresees airlines funding extra Border Force staff through the charges they pay the airport [...]
Interbank debt markets drying up once again April 30, 2012 LENDING between banks appears to be drying up again as data out yesterday showed that bond issuance by British banks has fallen to its lowest level since 2008. Despite a rush to sell debt in January that saw volumes surge briefly to their highest level in six months, overall bond issuance by British banks so [...]
World Trade Center tops NYC April 30, 2012 ■ One World Trade Center, being built on the site of the fallen twin towers, surpassed the Empire State Building yesterday as the tallest skyscraper in New York. Construction started six years ago on the new World Trade Center and now the skyscraper, formerly called the Freedom Tower, surpasses the top floor of the Empire [...]
Delta buys refinery to cut fuel bill April 30, 2012 ■ Delta Air Lines has agreed to buy a US oil refinery from ConocoPhillips for around $150m (£92m), in the most audacious move yet by an airline to tackle escalating fuel costs. Delta said the first ever purchase of a refinery by an airline would allow it to knock some $300m off its annual jet [...]
