Greece charges finance official January 2, 2012 A TOP Greek finance ministry official was charged yesterday with failing to collect fines imposed on firms for smuggling, court officials said, in the second case to embarrass the debt-ridden government in under a week. Greece has promised its international creditors it will tackle widespread corruption. Yannis Kapeleris, a secretary general who was handling the [...]
Commuters return to hike in train prices January 2, 2012 COMMUTERS returning to work today have been hit by yet another hike in rail fares, after the average ticket price rose by 5.9 per cent with the new year, sending season tickets rocketing. The increases will see the average single ticket rise from £5 to £5.30, and season passes for some popular commuter routes rise [...]
FSA gets tough with £66m in fines last year January 2, 2012 THE FINANCIAL Services Authority (FSA) imposed over £66m in fines last year, including a retail fine for a whopping £10.5m imposed on HSBC for mis-selling investment bonds to elderly customers. The watchdog also showed its muscle by ordering large financial groups to pay more than £160m in compensation to customers – a huge rise from [...]
PM in attack on City pay January 2, 2012 DAVID Cameron has kicked off the new year with another attack on high-earners, promising “bold” action to “tackle excess in the City”. In a message focused on how Britain can become “stronger”, the Prime Minister suggested that highly paid executives are as much of a blight on society as those languishing on taxpayer-funded benefits. “While [...]
Tories slam Labour NHS spending January 2, 2012 THE CONSERVATIVES have renewed their attack on Labour’s handling of the NHS by claiming management costs rose twice as fast as spending on mental illness during the previous government’s time in office. Spending on managers and senior managers rose 450 per cent over 13 years to hit £1.04bn in 2009-10, compared to a 191 per [...]
Sector gap on pensions is widening January 2, 2012 THE GAP between pension scheme provision in the public and private sectors is widening, according to a new warning from actuaries. While over five million government sector workers enjoy the benefits of “open” defined benefit schemes, such schemes are closing on private sector employees, the Association of Consulting Actuaries (ACA) will argue today. Nine out [...]
Activists’ new legal fight January 2, 2012 PROTESTERS who have taken over a disused London courthouse are expected to fight an eviction attempt today. The activists, who claimed Old Street Magistrates’ Court as the fourth Occupy site in the week before Christmas, will appear at Clerkenwell and Shoreditch County Court. Last night they said in a statement: “Mastcraft Ltd, owners of the [...]
Property cash flocks to uni halls January 2, 2012 Investors at home and abroad have committed £840m to UK student accommodation projects in the last year, compared with £770m in 2010, as property developers look to cash in on the soaring number of overseas students. Research by real estate adviser CBRE suggests that last year’s hike in university tuition fees has led to a [...]
North-south housing divide jumps January 2, 2012 The UK’s housing market is now worth just over half its value during the 2007 boom, and the gap between the north and south of the country has widened, research by property agent Savills shows. The active market in London and the south east made up a whopping 47 per cent of all transactions in [...]
BAE Systems wins £133m deal January 2, 2012 BAE Systems has signed a deal worth £133m with the Brazilian Navy to supply it with three patrol vessels. The ocean patrol vessels are already built as they were ordered by the government of Trinidad and Tobago in a contract which was terminated in 2010. Two of the boats were constructed on the Clyde and [...]
