City panel says Greece will default within the next year June 26, 2011 VOICE OF THE CITY AN overwhelming majority of our Voice of the City Panel, run in association with Politics Home, thinks that Greece will default on its debt within the next year. But less than a third believe that the UK should have a role in international efforts to prop up the Greek economy, with [...]
Greek minister: budget vote is on a knife edge June 26, 2011 THE Greek parliament could block budget measures vital to securing the €12bn (£10.6bn) in aid that Athens needs to stave off default in July, said the country’s deputy Prime Minister Theodor Pangalos. He told a Spanish newspaper that the governing Socialist party is confident of victory on the initial vote tomorrow outlining general budget aims. [...]
French banks outline Greek rescue plan June 26, 2011 FRENCH ministers and banks have agreed to roll over maturing Greek sovereign bonds, in the first indication that private investors will play an active role in resolving the Mediterranean nation’s debt problems. The French treasury and the banks will put forward the agreement today at a meeting of Eurozone ministers and financial institutions in Rome [...]
CHINESE CO-OPERATION June 26, 2011 Chinese premier Wen Jiabao urged manufacturing co-operation as he toured the MG Motor factory in Longbridge, near Birmingham yesterday. Protesters gathered outside the plant, in a protest against China’s human rights record. Wen is likely to discuss human rights, as well as trade and the eurozone with David Cameron today.
Pensioner takes on BoI June 26, 2011 BRITISH pensioner Albert Kempster will take on Bank of Ireland in court this month to prevent his savings from being wiped out by the Irish bank’s debt restructuring. Kempster, 73, is being advised by law firm Brown Rudnick and public relations company Fishburn Hedges. Fishburn Hedges said yesterday that Kempster’s court hearing would take place [...]
UK needs firm Russian links for Soviet revival June 26, 2011 As I prepare to lead a senior City business delegation to Moscow and St Petersburg, economic winds of change seem to be blowing across Russia. There is no doubt that Russia is an economic powerhouse, with the country’s sheer size and abundance of natural resources ensuring it is an important player on the global stage. [...]
AstraZeneca to stop paying for doctors’ international travel fares June 26, 2011 ASTRAZENECA has vowed to stop paying travel expenses for doctors attending international medical conferences. In a bid to clamp down on a practice which has been criticised as marketing, the Anglo-Swedish pharmaceutical group says it will now only fund local medical education programmes round the world, Chief executive David Brennan told the FT: “The appearance [...]
HMV poised to sell off its Canada stores June 26, 2011 STRUGGLING retailer HMV is set to announce the sale of its 125-store Canadian business to Hilco-owned Valco Capital Partners, according to reports. The sale of the loss-making Canadian arm is expected to be announced to coincide with HMV’s full-year results on Thursday, as the entertainment group looks to restructure and decrease debts following four profit [...]
Nokia and Siemens fail to find a deal to sell controlling stake in joint venture June 26, 2011 NOKIA and Siemens failed to secure a deal for investors for a controlling stake in their unprofitable joint venture, according to weekend reports. The companies, which could not be immediately reached for comment, are now weighing investing more money in the venture, which is called Nokia Siemens Networks (NSN), the Wall Street Journal said in [...]
SUN FINALLY SHINES ON MUDDY GLASTONBURY June 26, 2011 The sun finally came out on Glastonbury yesterday, with Beyonce taking the stage for the festival’s finale. Over 100,000 fans stumped up £195 a ticket for bands such as U2 and Coldplay. Despite cold weather and Glastonbury’s almost traditional mud bath on Friday and Saturday, fans were rewarded with warm weather in the end.
