Klasnic strike sees Bolton past Wigan February 16, 2011 FOOTBALL: Bolton booked an FA Cup fifth-round FA Cup tie with Fulham as Wigan were beaten by a second-half strike from Ivan Klasnic. The decisive moment came in the 66th minute when the Croat rifled beyond Mike Pollit.
Immigration cap to spare high earners February 16, 2011 BUSINESSES have welcomed an exemption for high earners from a government immigration cap due to come into force in April. Bankers, lawyers and other highly-paid workers who earn over £150,000 per year will not be subject to the limit. Head of employment policy at the CBI, the employers’ organisation Neil Carberry said: “This announcement of [...]
King insists a rise in rates is not imminent February 16, 2011 MERVYN King yesterday tried to play down expectations that the Monetary Policy Committee (MPC) would imminently start raising interest rates to curb inflation, insisting that it would be a “futile gesture”. Unveiling the Bank of England’s quarterly Inflation Report, in which it lowered its forecast for economic growth this year from 2.6 per cent to [...]
UK labour market stumbles February 16, 2011 EMPLOYMENT dropped by 68,000 in the final three months of 2010, reflecting the labour market downturn that economists expect will continue through the year. There are now 29.12m employed people in the UK. The unemployment rate stuck at 7.9 per cent, yet the figures showed an extra 44,000 people unemployed, compared to the previous three [...]
RICS calls for more help for housing in the Budget February 16, 2011 THE ROYAL Institution of Chartered Surveyors called on the government to support the construction industry and housing in particular yesterday in its pre-Budget letter to the Treasury. RICS said the sector accounted for more than 1.4m jobs in the UK, and that VAT exemptions, more affordable homes and simpler government procurement is needed in the [...]
Export markets offer hope to small UK companies as demand at home stalls February 16, 2011 LONDON’S small and medium sized companies were yesterday encouraged to look overseas to bolster their growth. Research by accountancy body ICAEW showed that 70 per cent of UK businesses are looking to exports to further their recovery, while Bank of England governor Mervyn King said Britain was successfully “rebalancing” towards exports. While the “25 per [...]
World economy fires up with rate hikes expected February 16, 2011 GLOBAL economic recovery is back on track, according to a world survey released yesterday. After a slight decline at the end of 2010, the measure of the economic climate “has risen markedly,” reaching its highest level since the end of 2007, the Munich-based Ifo think tank said. Both the current situation and the six month [...]
New man to lead the Bundesbank February 16, 2011 IN a mark of continuity, Jens Weidmann, Angela Merkel’s chief economic adviser and a protege of his predecessor Axel Weber, will be the next Bundesbank president. At just 42, Weidmann will be its youngest-ever head when he takes the helm on 1 May, but he backs the same tough stance on inflation as German chancellor [...]
Oil hits new highs after fresh Middle East tension February 16, 2011 BRENT crude oil prices surged to near two-and-a-half year highs yesterday as fresh tensions between Israel and Iran added to spreading unrest in the Middle East. Israel’s foreign minister, Avigdor Lieberman, said two Iranian warships planned to sail through the Suez canal en route to Syria and called the move a “provocation”, sending up prices [...]
Pay rises flat in manufacturing February 16, 2011 MANUFACTURING body EEF said yesterday pay settlements have remained flat in the last three months, as continued economic worries among employers put pay negotiations under a cloud. One in six pay negotiations ended in a pay freeze, EEF said, with the average rise remaining stable at 2.2 per cent. “Firms remain under intense pressure to [...]
