PM seeks trade driven recovery February 8, 2011 Prime minister David Cameron will today launch a plan aimed at creating the right conditions for an export-driven economic recovery. A trade and investment white paper, launched today, will encourage British businesses to trade abroad by improving trade finance and insurance products. The paper pledges more government support for exporters and increased lobbying in Europe [...]
Unite union to ballot BA staff February 8, 2011 The union representing British Airways cabin crew said yesterday it planned to ballot members again on taking strike action after saying a recent vote was potentially invalid. Cabin crew voted last month to hold further strikes. The dispute has cost the airline some £150m.
Warner Music results not a hit February 8, 2011 Warner Music Group posted deeper than expected losses yesterday, sending the company’s shares down more than 11 per cent. First quarter revenue fell 14 per cent to $789m (£491m).
Plot to oust Healthcare Locums chair February 8, 2011 THE SUSPENDED executive vice chairman of Healthcare Locums, the medical staffing firm, has resigned and launched a bid to sack the chairman that disciplined her. Kate Bleasdale, who is also the founder of the company, has used her 11 per cent stake in the business to call an extraordinary general meeting to oust chairman Alan [...]
Anglo Irish Bank predicts a record €17.6bn loss February 8, 2011 ANGLO Irish Bank said it expected to make a loss of €17.6bn (£10.9bn) in 2010, breaking its own record loss for an Irish corporate, after it released unaudited financial information yesterday. The grim forecast follows “another exceptionally difficult twelve month period for both the Bank and the Irish economy,” the lender said in a statement. [...]
Merlin talks still on target, says Treasury February 8, 2011 GEORGE Osborne yesterday announced an £800m hike in this year’s bank levy, in a surprise move designed to “clear the decks” before the government signs a flagship agreement on lending and bonuses with the banks. The chancellor initially planned to introduce the £2.5bn-a-year levy at a reduced rate in 2011, yielding £1.7bn from the Treasury [...]
Gleeful and rabid, Balls was unable to contain his mania February 8, 2011 THIS was it. The day Ed Balls had been waiting for, his first one-to-one against Osborne, and you could see it in his flushed cheeks, his tightly clasped hands, the spark of joy in his piggy eyes. A shame then, to fluff the first joke by stumbling on the words: “Good thing I didn’t have [...]
Government is likely to stagger bank stake sales February 8, 2011 THE government is likely to sell its stakes in state-backed banks Lloyds Banking Group and Royal Bank of Scotland in several tranches, a senior Treasury civil servant said. “As and when these shares are sold into the market, just the sheer scale of the holdings will make this, I think, the biggest UK share sale [...]
WHAT DO YOU THINK ABOUT OSBORNE’S DECISION TO INCREASE THE BANK LEVY? February 8, 2011 GRAEME LEACH | INSTITUTE OF DIRECTORS The increase confirms our concern that the levy would ramp up over time and risk undermining the competitiveness of the City. Let’s hope this is the last increase. CHUKA UMUNNA LABOUR Ministers have already been boasting that the bank levy will raise £2.5bn a year, so this is little [...]
DO YOU THINK THE BANK LEVY HIKE IS THE RIGHT THING FOR THE GOVERNMENT TO DO? February 8, 2011 CAROLYN BENNETT AQUA FINANCIAL SOLUTIONS “There is already a trickle-down effect from the banks to the taxpayer anyway. And it’s hard to tell how well thought-out this latest levy is.” MALCOLM FISH LLOYDS BANKING GROUP “I think banks should do their bit to help the economy, and the government is raising money from wherever it [...]
