Obama rejects Boehner offer December 17, 2012 THE WHITE House said yesterday it would not accept an offer from the Republicans to hike taxes on the richest in exchange for spending cuts, as the United States lurches towards a string of automatic austerity measures and tax rises known as the fiscal cliff. John Boehner, who leads Republicans in the House of Representatives, [...]
KPMG UK profits decline as growth disappoints December 17, 2012 BIG four auditor KPMG witnessed a 13 per cent slump in profits last year after budgeting for a surge in economic growth that failed to materialise, results out today show. The professional services firm was forced to slash 275 senior jobs over the summer to shore up its bottom line, after it became apparent its [...]
Depardieu blasts French PM for calling Belgium move pathetic December 17, 2012 FRENCH ACTOR Gerard Depardieu yesterday launched a blistering verbal assault on French Prime Minister Jean-Marc Ayrault for calling his decision to move to Belgium pathetic. “Pathetic, you said pathetic? How pathetic is that?” Depardieu wrote in an open letter. “I am leaving because you believe that success, creation, talent, anything different must be sanctioned,” the [...]
Sky to bolster Now TV with Premier League December 17, 2012 SKY is set to bring Premier League football to its nascent Now TV streaming service in the coming weeks, raising the possibility of offering pay-per-view games. The broadcaster quietly began testing Sky Sports on the service last week, inviting customers to trial it ahead of a new year launch. Now TV has been active since [...]
What the other papers say this morning December 17, 2012 FINANCIAL TIMES Insurers warn regulators on reforms Insurers are conducting a war of words with regulators trying to prevent a repeat of AIG’s collapse, as the industry makes a last-ditch effort to avoid capital surcharges. US banks call for easing of Basel III US banks are making a last-minute push to ease new global liquidity [...]
Merkel defends austere Eurozone December 17, 2012 German Chancellor Angela Merkel criticised her centre-left opposition for blocking her government’s efforts to cut income taxes by €6bn (£4.9bn), telling a German newspaper those parties will have to explain that to voters in next year’s election. Merkel, seen as the main proponent for austerity in the Eurozone, told the Financial Times today that the [...]
IMF head lifts growth outlook December 17, 2012 Advanced economies should grow a bit faster than expected next year, the International Monetary Fund’s managing director said yesterday. Christine Lagarde said advanced economies would grow 1.6 per cent in 2013. That is higher than the IMF’s last official outlook from October that said expansion for advanced economies hit by a fiscal crisis would be [...]
Hollande hit in by-elections December 17, 2012 France’s opposition conservative party won three by-elections yesterday despite its own internal problems, in the latest sign of trouble for Socialist President Francois Hollande. The UMP won a hat-trick of by-elections, including a seat previously held by the ruling Socialist party. “These elections constitute a setback for the government which has reacted so badly to [...]
4G bidders to be outed as hopes rise for windfall December 17, 2012 OFCOM is this week expected to reveal the bidders for an auction of 4G spectrum, in the next step of a process that could earn the Treasury far more than originally expected. George Osborne pencilled in a sum of £3.5bn in his Autumn Statement, but recent auctions in other countries have beaten forecasts, as the [...]
Abe opens door to radical policy with landslide Japanese victory December 16, 2012 THE DOOR to unlimited Japanese monetary stimulus was nudged further open yesterday as Shinzo Abe’s Liberal Democratic Party (LDP) re-took parliament in a landslide. The right-leaning LDP took almost 300 out of 480 seats in the lower house, according to exit polls, which means it can exert a two-thirds majority with ally New Komeito, and [...]
