Boeing disappoints as misses forecasts January 26, 2011 US Airplane maker Boeing weighed on the Dow index yesterday after it offered a weaker-than-expected 2011 earnings outlook due to higher pension costs and fewer than expected plan deliveries. The New York-listed firm said revenues rose eight per cent on last year to $16.55bn (£10.4bn) in the last three months of 2010, while earnings per [...]
London could be the new Silicon Valley January 26, 2011 GOOGLE, Yahoo, Amazon, eBay and Facebook. What do they have in common? Yes, yes, they are all giants of the internet age, brand new companies worth hundreds of billions of dollars as they transform the world economy. But they are also all not British. London – with more top universities than any other city in [...]
City veteran Gunn thinks it will all come good at Rotala January 26, 2011 CITY veteran John Gunn (pictured) said yesterday he hoped his near £3m investment in Aim group Rotala would come good at some point and result in a tidy nest egg for his family. The former head of British & Commonwealth, whose company collapsed after the £410m acquisition of Atlantic Computers, has been left exasperated by [...]
Medvedev bid to lure finance firms to Russia January 26, 2011 RUSSIAN President Dmitry Medvedev launched an audacious bid to lure financial services to Moscow in his speech at the World Economic Forum at Davos last night, promising minimal regulation and support for risk-taking. Speaking the day after 35 people were killed in Moscow Domodedovo airport by terrorists, he began by thanking other world leaders for [...]
BUSINESSES AND INDIVIDUALS NEED LONG TERM PLANS January 26, 2011 GROUP CHIEF EXECUTIVE, AVIVA AS INSURERS, we’re here to help secure our customers’ financial futures and we understand the responsibility that comes with that. Ours is a long term business. We have to be there for our customers throughout their lifetimes, and beyond. So inevitably the sustainability of our business is a key priority for [...]
Asia inflation may hit growth January 26, 2011 CHINESE inflation is structural and risks derailing the global economic recovery, according to a quarterly inflation report by business consultancy McKinsey. The report, released at the start of the World Economic Forum in Davos, warns leaders that China is in danger of overheating and causing major disruption to worldwide demand. “The entire system is now [...]
Employers must help with training to close skills gap January 26, 2011 AN educational skills gap is one of the main causes of western unemployment, according to chief executives and delegates at the World Economic Forum in Davos yesterday. Jeffrey Joerre, chief executive of employment consultancy Manpower, said in a CNBC-hosted debate: “We have high unemployment and a high number of job openings. It’s a skills gap: [...]
Sands warns of over regulation January 26, 2011 STANDARD Chartered chief executive Peter Sands yesterday warned global economic growth was under threat of being “stifled” by over-regulation of the finance sector. Slamming a series of “wildly complicated” and “irrelevant” rules being instituted worldwide, he said over regulation was in direct contradiction to governments’ fiscal and monetary policies that are trying to stimulate growth. [...]
Levene says Solvency II to cost Lloyd’s £300m January 26, 2011 THE Lloyd’s of London insurance market expects to pay £300m to implement stringent new capital requirement rules for insurers, its chairman Lord Levene (pictured) said yesterday. Levene criticised the additional burden placed on insurers by the Solvency II rules, imposed by European lawmakers to require insurers to hold more capital to cover the risks they [...]
Diary January 26, 2011 DAVOS DIVAS Davos this year might have drawn headlines for its first ever quota for female delegates, but there’s one group of women the event has always catered for: the “Davos wives”. Anya Stiglitz, wife of the economist Dr Joseph Stiglitz (pictured together), has this year been spilling the beans in a series of blog [...]
