US budget deficit widens to near $50bn in January February 10, 2011 THE US budget deficit widened less than expected in January but was still the second-highest on record for the month, underscoring the liability it has become for the Obama administration. The gap broadened to $49.8bn (£30.9bn), held back in part by a rise in tax receipts, the Treasury Department said. Analysts were expecting a $70bn [...]
MPs decide prisoners have no right to vote February 10, 2011 MPs yesterday voted overwhelmingly in favour of a ban on prisoners having the right to vote. The cross-party motion, tabled by Jack Straw and David Davis, was passed by 234 votes to 22. But parliament is likely to have to agree on a watered-down version of the ban, as it puts the government on a [...]
Sir Stelios hits out at easyJet pay decisions February 10, 2011 EASYJET’S largest shareholder Sir Stelios Haji-Ioannou has spoken out against an ex-chief executive’s pay, in the latest flare-up between the budget airline and its founder that could cause fireworks at next week’s AGM. Sir Stelios, whose family owns a 38 per cent stake in easyJet, wrote to chairman Michael Rake to complain that former chief [...]
Credit Suisse cuts bonuses and dividend February 10, 2011 CREDIT Suisse has cut back on bonuses dramatically, announcing at its full-year results yesterday that 2010 bonus payouts were down 25 per cent per employee compared to last year. The bank also downgraded its all-important return on equity forecast – a key prediction of mid-term profitability – from 18 per cent to 15 per cent, [...]
Live at the most famous 18th hole February 10, 2011 THE most famous building in golf is, without question, the Royal & Ancient Clubhouse at St Andrews. But the most recognisable? Arguably it’s the tall, turreted eruption of high Victoriana that overshadows it, the Hamilton Grand. So the story goes, it was originally built by a chap named Thomas Hamilton in 1895, after he was [...]
Irish recaps could wait for stress test February 10, 2011 A NEW Irish government is likely to wait until a fresh round of stress tests are completed before recapitalising the country’s top lenders, giving the only bank left trading on the main index more time to avoid state control. The main opposition party, expected to lead the next government after a 25 February election, said [...]
Chelsea’s superluxe new development February 10, 2011 LIKE bees to a hive, wealth comes to London property. Certain prime areas of the capital are magnets for international superstars in finance and business – Belgravia, Knightsbridge and Mayfair. But if you’re truly discerning, do you aim to be Harrods’ neighbour? Perhaps not, according to the people behind Henry Moore Court, a super-luxe development [...]
ROCHESTER February 10, 2011 WHORNES PLACE, CUXTON Price: £850,000 A magical home with a unique blend of old and new qualities. This property is grade II listed and steeped in history. It even has a coat of arms inscribed above the front door. However, it has been renvovated to the highest standards of modern luxury. The walled garden is more [...]
PROPERTY NEWS February 10, 2011 HEATHROW GETS PROPERTY BOOST The regeneration of West London’s “Heathrow Quarter” has been given a further boost by the launch of The Hurley Apartments at St George’s innovative Parkwest development. The anticipated arrival of Crossrail is giving this up-and-coming area an added edge, and investors in The Hurley’s apartments can look forward to a rental [...]
BUYING February 10, 2011 Q.I am thinking of buying a buy-to-let property in central London. What type of property makes the best rental and which tenant market should I be going after? A.We tend to advise our investment clients to opt for a two double bedroom, two bathroom configuration for a rental investment. This set-up will appeal to a [...]
