Urgent action needed in dire Championship as TV revenue shows signs of drying up June 8, 2011 AS WORRYING as the situation in the top flight is, it is far worse in the Championship, where £4 is spent for every £3 earned. Financial results for England’s second tier worsened for the sixth successive year in 2009-10, according to Deloitte, while the average wages-to-turnover ratio is an eye-watering 88 per cent. It could [...]
Hundreds of thousands of 2012 tickets unsold June 8, 2011 CHAIRMAN of London’s Olympic organising committee Lord Coe has moved to clarify that hundreds of thousands of tickets will be available in the upcoming second ballot. Over 55 per cent of applicants were left empty-handed following the first round of sales and although they are to be given priority second time around Lord Coe sparked [...]
Man United pip Arsenal to Jones signing June 8, 2011 MANCHESTER UNITED kick-started their summer spending spree by snatching Blackburn centre-half Phil Jones from the clutches of Premier League rivals Arsenal and Liverpool. Jones, 19, underwent a medical at Old Trafford yesterday ahead of a £17m move. His transfer represents the second time in a year that Sir Alex Ferguson has stolen a march on [...]
Banned Amir defends club appearance June 8, 2011 BANNED Pakistan bowler Mohammad Amir has denied flouting his suspension and insists he did no wrong in turning out for a club team in Surrey. Amir, 19, was banned for five years for the part he played in the spot-fixing scandal that marred last summer’s Test series against England. But Amir appears to have contravened [...]
Bank chiefs clash on plan for ringfence June 8, 2011 THE heads of Britain’s four biggest lenders were at loggerheads over banking reform yesterday, with RBS chief Stephen Hester saying that the Vickers Commission’s proposals would “increase systemic risk” while HSBC chairman Douglas Flint said they are “required” to protect depositors. Following business secretary Vince Cable’s latest attack on banks for insufficient lending yesterday, the [...]
CITY VIEWS: ARE YOU WORRIED ABOUT HIGHER OIL PRICES DERAILING THE ECONOMIC RECOVERY? June 8, 2011 MALDWYN WORSLEY-TONKS | RED24 “The recovery will certainly slow down because higher oil prices push everybody’s costs up. That takes money out of the economy, which could be spent on things that boost the recovery.” JONATHAN LEGG | GIANT INSURANCE “Yes, it will. An increase in oil prices has an impact on everything. We are [...]
BP downbeat on Rosneft June 8, 2011 BP CHIEF executive Bob Dudley yesterday gave a downbeat view of his firm’s chances of reviving a deal with Russia’s Rosneft, as the oil giant revealed its annual global review of world energy. “Whether that project goes forward or not, it’s very quiet. This is part of a big portfolio of exploration pursuit. Sometimes it’s [...]
SFO break up delayed as crime agency launches June 8, 2011 THE UK’s Serious Fraud Office (SFO) was yesterday granted a temporary reprieve from plans to absorb it into a new national crime agency, after the home secretary Theresa May confirmed that a decision on its break up would be delayed. Speaking as she unveiled more detailed plans for a new agency to tackle organised and [...]
Is George Osborne doing enough to promote growth in the UK? June 8, 2011 THIS week we’re asking members of our readers’ panel, recruited in association with PoliticsHome, to have their say on how well the chancellor is doing. To tell us your views on whether George Osborne has got it right on the economy, banking regulation and the 50p income tax, apply to join the panel at www.cityam.com/panel [...]
Shares of IPO firms fail to match FTSE June 8, 2011 SPECIAL INVESTIGATION | CITY AT WAR SHARES in newly-listed companies in London have failed to match the performance of the FTSE All-Share index since stocks began to recover from the financial crisis, rising an average of just 10 per cent compared to the 50 per cent increase seen on the rest of the index. According to the Bloomberg IPO [...]
