We need more large multinationals January 16, 2011 POLITICIANS often try and drive a wedge between small and large businesses. The former are portrayed as the real heroes, to be helped whenever possible (albeit only rhetorically, of course); the latter are treated with suspicion. Like much of what passes for informed debate these days, however, this distinction is bogus. Small and large firms [...]
China criticises US dollar January 16, 2011 CHINESE President Hu Jintao yesterday called the US-dollar-dominated international currency system a “product of the past”. He added that it would be a “fairly long process” to make China’s own currency an international one. He also said “the liquidity of the US dollar should be kept at a reasonable and stable level”. China has argued [...]
What the other papers say this morning January 16, 2011 FINANCIAL TIMES RBS DIRECTOR TO STEP DOWN FROM BOARD One of the last Royal Bank of Scotland directors to remain on the bank’s board from the days of Sir Fred goodwin is poised to step down from his role. Colin Buchan, 56, a former UBS investment banker who until recently was chairman of RBS’s remuneration [...]
Green & Black’s considers MBO January 16, 2011 Organic chocolate maker Green & Black’s management is looking for ways to extricate the company from Kraft, according to reports. The firm’s management is said to be struggling to retain an entrepreneurial spirit now they are part of the food giant Kraft, which bought out Cadbury’s last year. The Financial Times reported Green & Black’s [...]
Property prices rise 0.3 per cent January 16, 2011 A drop in the number of new homes coming onto the market helped property asking prices rise in January for the first time in three months, according to property website Rightmove. However January’s 0.3 per cent rise was tiny in comparison with the declines seen in the final two months of last year. Asking prices [...]
Cowen faces crunch vote on leadership January 16, 2011 IRISH Prime Minister Brian Cowen resisted calls for him to resign yesterday but will field a vote of confidence on his leadership tomorrow. The Taoiseach said he expects to survive the vote from his Fianna Fail party despite several members calling for his head over allegations he played golf with the boss of Anglo Irish [...]
Bonus pots to be unveiled this week January 16, 2011 BANKERS at Goldman Sachs, JP Morgan and Morgan Stanley will this week discover how much they will earn in bonuses. JP Morgan has already announced it will pay a total of $9.7bn (£6.1bn) in staff bonuses – a four per cent increase on last year. Individual bankers will be told how much they will receive [...]
Miliband reaches out to Lib Dems January 16, 2011 ED Miliband signalled his willingness to work with the Lib Dems in opposition to spending cuts, saying he wants to form a “big tent” of protestors. The Labour leader, buoyant after his party’s victory in the Oldham by-election, said he is working with the Lib Dems’ deputy leader Simon Hughes to come up with ways [...]
ICBC to double European banks January 16, 2011 INDUSTRIAL & Commercial Bank of China (ICBC) will more than double its European presence this month when it opens five new branches. The move is part of a global expansion by China’s biggest lender. The new branches will be located in Milan, Madrid, Brussels, Paris and Amsterdam, adding to its compliment of banks in London, [...]
Deloitte sells Can of Ham site to US pension fund January 16, 2011 AN AMERICAN pension fund has bought the site of the proposed Can of Ham building at St Mary Axe from the administrator of previous owner Targetfollow. The Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF) is believed to have paid Deloitte £20m for the plot. Targetfollow, whose development arm fell into administration [...]
