Brown aide: Labour needs growth plan May 11, 2011 ONE OF Gordon Brown’s top economic advisers has called on Labour to present an alternative to the government’s plan to cut the deficit through spending cuts instead of “carping” . Writing in City A.M., Dan Corry, who was a member of Brown’s Downing Street policy unit, said it was “very easy to fall into the [...]
Red-tape war on work rules May 11, 2011 IN A bid to counter accusations that it is not doing enough to reduce red tape, the government yesterday revealed plans to review three key areas of employment law. The government is considering reducing the 90-day required consultation period over collective redundancies, as well as capping compensation in discrimination awards at employment tribunals. Businesses have [...]
Gulliver’s off to quiet start at HSBC May 11, 2011 IN the ever changing world of banking, it was the turn of HSBC’s new chief executive Stuart Gulliver yesterday to inform investors of his bank’s strategy for the future. In recent weeks, both Bob Diamond of Barclays and António Horta-Osório of Lloyds Banking Group, have had a turn at imposing their personalities at their new [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 11, 2011 FINANCIAL TIMES MP TALKS TOUGH OVER SSE MIS-SALE The UK’s big gas and electricity suppliers should be forced to repay any profits made by mis-selling their products on the doorstep, the chairman of an influential House of Commons committee has suggested. Scottish and Southern Energy was found guilty of unfair trading on Tuesday after its [...]
University not only option May 11, 2011 THE UK chief executive of McDonald’s called for an end to snobbery surrounding university degrees yesterday, arguing that many workers would be better off learning through their job. Jill McDonald said young people should not see a degree as their only option and should consider a job with an employer such as McDonald’s that will [...]
Cisco down as results disappoint May 11, 2011 Network giant Cisco Systems warned of continuing weak growth last night as it posted a 17.6 per cent fall in net profit in the three months to April, compared with the same period in 2010. Profit fell to $1.8bn (£1bn) from $2.2bn in 2010 despite sales revenue rising 4.8 per cent to $10.9bn in the [...]
BA cabin crew spat nears end May 11, 2011 The dispute between British Airways and its cabin crew could come to an end today, when the Unite union is expected to present the terms of a peace deal to its members. An email to members of the British Airlines Stewards and Stewardesses Association said yesterday that talks between the airline and unions to end [...]
Oil price fall fuels hopes of cheaper petrol May 11, 2011 CRUDE oil prices dropped below $100 a barrel and US petrol futures slumped yesterday, fuelling hopes that UK forecourt prices may fall substantially soon. Crude futures plunged more than five per cent in the week’s second major oil price fall, with light sweet crude for June hitting a low of $97.50 (£59.55). Brent crude traded [...]
Protests in Athens as EU debates aid May 11, 2011 GREECE descended into violent anti-austerity protests as European Union and International Monetary Fund auditors arrived in Athens to assess the strength of its finances yesterday. As a 10,000-strong union protest over public spending cuts disintegrated into clashes with police, the bailout audit team started a week of meetings to understand whether the debt-ridden country may [...]
Germany backs Draghi for ECB May 11, 2011 BANK of Italy governor Mario Draghi won the blessing of German chancellor Angela Merkel to become the next president of the European Central Bank (ECB) yesterday. Draghi, who will replace Jean-Claude Trichet in October when his eight-year term ends, will have to lead the ECB through interest rate rises to counter inflation in the trading [...]
