British doctors could strike January 18, 2012 Britain’s doctors could go on strike for the first time since the 1970s after the British Medical Association survey said two thirds of its members support industrial action. More than 80 per cent of doctors said the industry group should reject proposals to reform medical pensions. The BMA is due to meet on 25 February [...]
Economists: UK will barely grow in 2012 January 18, 2012 THE ECONOMY will register almost no growth in 2012, according to economists who have slashed previously rosy forecasts made just months ago, figures compiled by the Treasury showed yesterday. Growth forecasts were cut to 0.4 per cent on average for 2012, down from predictions of 0.6 per cent last month and a healthy two per [...]
Paypal delivers gains to eBay January 18, 2012 ONLINE auction house eBay has banged the gavel on a solid fourth quarter which saw revenues increase by over a third to $3.4bn (£2.2bn). Largely helped by selling its remaining share in Skype, the majority of which was sold in 2009, eBay generated a net income of $2bn in the three months to 31 December. [...]
Peacocks rescue deal collapses January 18, 2012 Peacocks, the discount fashion retailer, has fallen into administration after talks of a rescue management buyout broke down putting more than 10,000 jobs at risk. KPMG said it had been appointed administrator to Peacocks, which owns 611 stores and 49 concessions across the UK, and will now seek to find a buyer for the company [...]
Mitchell & Butlers gets warning over directors January 18, 2012 PUB GROUP Mitchell & Butlers has been issued a “red top” warning by the Association of British Insurers (ABI), due to concerns stemming from the British company’s position as the only FTSE 350 firm without any independent non-executive directors. ABI’s highest-level alert comes days before Mitchell & Butlers’ general meeting, scheduled for next Thursday, when [...]
Fidelity calls for investor pay controls January 18, 2012 ASSET manager Fidelity Worldwide Investment has called for all boardroom bonuses to require at least 75 per cent shareholder approval in an attempt to limit excessive payments to directors. Fidelity – which manages assets of £165.5bn and over 740 funds – says directors should seek the approval of three quarters of shareholders in order to [...]
Gove pleased by Barclays’ move to back academies January 18, 2012 BARCLAYS yesterday launched an initiative to support independent state-funded schools across the country, in a move which was welcomed by education secretary Michael Gove. The scheme – which focuses on academies, free schools, university technical colleges and studio schools – encourages senior staff at Barclays to become school governors, provides free financial advice to the [...]
French banks boost their deposit base by €130bn January 18, 2012 FRENCH lenders brought in €130bn (£108bn) more in customer deposits last year, according to ratings agency Fitch, shoring up their ability to weather difficult European funding conditions. The agency said the new cash had come “partly at the expense of European money market funds”, with lenders offering attractive introductory interest rates to lure deposits away. [...]
Charles Schwab meets forecasts January 18, 2012 CHARLES Schwab’s quarterly profit last night met analysts’ lowered expectations, amid a tough environment of shrinking interest rate margins and a pullback in trading by retail investors. The bank and brokerage, which has offices throughout the US and in London, earned $163m (£105m) in the fourth quarter, compared to $119m a year earlier. Asset management [...]
700 will go in Lloyds job cuts January 18, 2012 LLOYDS bank is axing 700 jobs as part of a move which will ultimately see 15,000 employees made redundant. This has been expected since last June, when Lloyds chief António Horta-Osório announced a restructuring plan to save £1.5bn a year by halving the bank’s global presence by 2014. The job cuts will be made across [...]
