Review looks at high cost of sick leave from work February 13, 2011 THE government will this week announce an independent review into sickness absence in the workplace, to be co-headed by David Frost, head of the British Chambers of Commerce. He will be joined by Dame Carol Black, who in 2008 led a review that estimated a £100bn cost to the economy from illness-related absence and worklessness. [...]
BarCap to be star turn in bank figures February 13, 2011 BARCLAYS is expected to rely on its investment banking division, Barclays Capital, for over 70 per cent of its pre-tax profits when it reports its full-year results tomorrow. Analysts are anticipating a loss at the bank’s corporate division, meaning that despite a difficult year for investment banks, BarCap will bring in the vast majority of [...]
Private firms step in to create jobs February 13, 2011 JOB creation in the private sector is starting to pick up, according to a respected report. The survey, conducted by the Chartered Institute of Personnel and Development (CIPD) and KPMG, lends support to prime minister David Cameron’s claim that private firms will provide jobs as cuts in the public sector take hold. Manufacturing and private [...]
HIG buys British telecoms firm February 13, 2011 HIG Europe, the European arm of global private equity house HIG Capital, has acquired Aircom International, the mobile phone services provider. Bought from Advent International for an undisclosed price, the Aircom investment marks HIG’s eighth new deal investment in the last 12 months. Barclays and HSBC provided a “joint debt package” to support the group [...]
Amlin warns on strict new rules February 13, 2011 THE CHIEF executive of Amlin, the Lloyd’s of London insurer, has warned he could move the firm overseas if regulations set to be introduced in 2013 are too aggressive. Charles Philipps said any attempts by UK regulators to aggressively enforce strict European Solvency II capital requirements could force Amlin to relocate. In an interview with the [...]
Ballmer questions Twitter valuation February 13, 2011 MICROSOFT chief executive Steve Ballmer has questioned the rumoured $10bn (£6.2bn) valuation of Twitter, and suggested that the price will be difficult for a potential buyer to sustain if the site were to go public. “Nobody has paid $10bn yet for Twitter,” he is reported as saying. “We have a great relationship with them, but [...]
Investors are getting picky February 13, 2011 LET’S face it; for most of the rally off the 2009 lows, equity investors could have got a decent return from buying just about any mainstream index. It’s been pretty much one-way traffic and even the most inept of investors could be sitting pretty on a big double-digit return. But is the going about to [...]
Pricing the future of 140 characters February 13, 2011 THE $10bn price tag for Twitter puts its valuation at 222 times revenue, using estimated figures for 2010. Even if the site comes good on projections that ad income will hit $250m in 2012, the multiple is still 40 times revenue – a fancy amount for a business that is yet to turn a profit. [...]
Boeing wows the public with latest 747 jumbo jet February 13, 2011 AIRCRAFT manufacturer Boeing yesterday unveiled its first new 747 passenger aircraft design for more than 20 years. The 747-8 Intercontinental jumbo jet was introduced to around 10,000 workers, guests and the media at the firm’s jet factory in Everett, near Seattle. The 747-8 design is 85 per cent new, only relying on some elements of [...]
Inflation risk turns up heat on Bank rate February 13, 2011 THE Bank of England could signal an imminent rise in interest rates this week, with the publication of the latest inflation report which forecasts inflation and growth in the UK. “We expect the Bank’s report to show an upward revision to their inflation projection and to signal that the first rate hike is likely to [...]
