Coalition right to help job-creators January 26, 2011 VINCE Cable is back – and seems determined to shake off his reputation as the anti-business secretary. He wants to encourage firms to take on more workers by making it easier for them to sack underperforming staff. The number of cases reaching employment tribunals will be cut by automatically lodging all cases with Acas, the [...]
What the other papers say this morning January 26, 2011 FINANCIAL TIMES TALKTALK CUTS WORKFORCE BY 13 PER CENT Broadband provider TalkTalk is cutting its workforce by almost 13 per cent as part of efforts to improve profitability. Dido Harding, chief executive, announced yesterday that the company was cutting 580 jobs from its 4,500-strong UK workforce. The staff cuts, which are likely to be achieved [...]
Keys quits over sexism row January 26, 2011 Face of Sky Sports bows to pressure but blames ‘dark forces’ for forcing him out PRESENTER Richard Keys last night bowed to pressure and resigned from his high-profile role as Sky Sports football anchor over the storm caused by leaked footage of him making sexist comments. Keys’ resignation was accompanied by an apologetic statement and [...]
OFT won’t report banks January 26, 2011 THE OFFICE of Fair Trading has decided not to report London’s investment banking industry for anti-competitive practices, according to reports last night. The OFT has spent six months looking at whether equity underwriting practices stifle competition, but does not have enough evidence to make a formal referral to the Competition Commission. The watchdog said in [...]
HAMMER BLOW Gardner strike sends Blues to Wembley January 26, 2011 BIRMINGHAM 3 vs WEST HAM 1 WEST HAM manager Avram Grant admitted his players were left devastated after Birmingham came from behind to deny the east London side a place in the Carling Cup final. Leading 2-1 from the first leg at Upton Park, Carlton Cole’s long-range effort put the visitors further ahead and was [...]
Submissions to Vickers January 26, 2011 BARCLAYS Said a forced split would harm the stability of the system. “There is little empirical evidence to suggest that material structural change would enhance financial stability,” it said, warning that the UK economy would also suffer if the financial sector is curtailed. RBS RBS sought to quantify the benefits of the universal model, estimating [...]
US gets rid of Citigroup stake January 26, 2011 The US government is set to dispose of its remaining stake in Citigroup for a $312.2m (£196m) profit, the Treasury Department said last night. The sale of 465.1m warrants to purchase common shares in Citi were acquired as part of the Troubled Asset Relief Programme, or TARP. American taxpayers are expected to end up $12.3bn [...]
CSC approves Trafford deal January 26, 2011 Shareholders in Capital Shopping Centres yesterday gave the green light to the firm’s £1.6bn purchase of the Trafford Centre, bringing to a close months of tussling with predatory investor Simon Property. Simon said in a statement yesterday that it would “closely track the progress” of the CSC board, after giving up on its £3bn takeover bid [...]
Long-awaited glory would vindicate Wenger method January 26, 2011 ONLY one team stands between Arsenal and silverware following their progress to the Carling Cup final. Whatever happens at Wembley, it is sure to boost their confidence that they can catch Manchester United in the Premier League title race. In the past this Gunners team has been guilty of hitting a brick wall at crucial [...]
Fed reassures as Dow surges past 12,000 January 26, 2011 THE Dow surged past 12,000 yesterday for the first time since June 2008 before eventually closing at 11,985.44, after a series of positive news was followed by a reassuring statement from the Federal Reserve. The Fed will keep interest rates low and maintain its policy of quantitative easing (QE2), it announced last night. “The economic [...]
