Financial firms sack or suspend record number of staff January 13, 2013 FINANCIAL firms and watchdogs have tightened the screws on staff suspected of misconduct in the last year, according to figures out today. In 2012, almost 1,400 financial services workers were dismissed or suspended, or resigned while under investigation by their employer or a regulator, figures from the Financial Services Authority show. In the same year [...]
City braces for snow and deep freeze January 13, 2013 LONDON has been put on alert for snow disruption as bitterly cold weather sweeps through the country this week. More than 100,000 tonnes of salt are ready to grit roads and pavements in the city, and Transport for London said it is working with Network Rail to brace the capital’s train system for snow and [...]
Business surveys suggest third recession is starting January 13, 2013 THE UK may be falling into its third recession in four years, marking the third dip since the credit crunch, two business surveys indicated this morning. The UK returned to growth in the third quarter of 2012. However, British firms’ output weakened to 93.1 in the fourth quarter of 2012, accountants BDO said, from 93.4 [...]
Why the European dream has gone sour for so many firms January 13, 2013 WHEN it comes to the European Union, there is the good, the bad and the ugly. The free movement of goods, capital, services and people – the four freedoms – are a great, visionary, cosmopolitan and truly liberal idea in the classical, libertarian sense of the word; the only downside is that one of them, [...]
State pension is ripped up in radical reforms January 13, 2013 THE COALITION will finally unveil its pensions white paper at 3.30pm today, unleashing a raft of radical reforms on the UK state pension system. Pension groups have welcomed the changes, which introduce a universal state pension of around £145 per week, cut down on means-testing, and end a “horrendously complex” four-tier system. The proposals will [...]
What the other papers say this morning January 13, 2013 FINANCIAL TIMES EU to foster unified telecoms market Europe’s telecommunications commissioner will lay down a series of far-reaching reforms this year to support the formation of a pan-European telecoms market, in order to foster greater competition and investment in a sector hard hit by the financial downturn. FTSE 100 chiefs offer best value Chief executives [...]
CWC enters new age with $750m Macau sell-off January 13, 2013 THE BOSS of Cable & Wireless Communications (CWC) hailed a “landmark day” for his company yesterday as the telecoms firm said it had sold its last asset in Asia. CWC said it had reached a deal with the Chinese state-owned operator Citic to sell its 51 per cent stake in CTM, its business in Macau, [...]
Goldman Sachs mulls delay to bonuses for April tax changes January 13, 2013 GOLDMAN Sachs is among several banks considering whether to delay payment of bonuses to 6 April when the new 45p tax band announced in the Budget last year comes into effect. A person familiar with the company told City A.M the delivery of shares covering 2009, 2010 and 2011 could take place from April but [...]
Crackdown on avoidance may hurt the UK’s competitiveness January 13, 2013 CUTS to the headline rate of corporation tax are a welcome step towards making the UK competitive again, accountants UHY Hacker Young said today, but warned the crackdown on tax avoidance may undo the good work of the rate cuts. The headline rate is being cut each year and will fall to 21 per cent [...]
Jaguar Land Rover creates 800 UK jobs January 13, 2013 JAGUAR Land Rover will create up to 800 new jobs at its factory in Solihull, it announced yesterday as it revealed record global sales figures for 2012. The Tata-owned carmaker said the hiring drive has been sparked by its plans for new models this year. More than 200 of the jobs are supported by the [...]
