BEST OF THE BROKERS January 13, 2011 CARPHONE WAREHOUSE RBS rates the retailer “sell” with a target price of 244p. The broker expects a decline in like-for-like sales when the firm reports its third quarter results on 18 January, with only rapid growth in the US driving the shares at the moment. Conditions will remain tough, RBS believes, with economic hardship in [...]
It’s official: Non doms are quitting UK January 12, 2011 THE number of people registered as non-doms in the UK dropped for the first time in five years in the 2008-2009 tax year, as the rich fled higher taxes and the credit crunch, figures show. The data, obtained by a freedom of information request, show that there were 139,000 people registered in the UK as non-doms in [...]
Daniels briefs colleagues as row mounts over his bonus January 12, 2011 LLOYDS Banking Group chief executive Eric Daniels yesterday called senior colleagues together to warn them a storm was about to erupt about the potential size of his bonus. Daniels told colleagues there was going to be “noise” about his possible bonus payments and he said that somebody “out there” was trying to create mischief. Reports [...]
BarCap to cut 200 UK staff as revenues fall January 12, 2011 BARCLAYS Capital will lay off two to three per cent of its workforce this week, with a third of the cuts to fall on its London offices. In all, 600 front and back office staff will be given notice at the investment bank, with around 200 of those in the UK. The downsizing will include several [...]
Fed: Economy is recovering January 12, 2011 AMERICA’S end of year economic uptick was confirmed by the Federal Reserve beige book last night. The report, based on anecdotal accounts from businesses across the Fed’s regional branches, painted a “positive, although still generally cautious” picture. “Economic activity continued to expand moderately from November through December,” the report said. “Conditions were generally said to [...]
How a tax hike increased the deficit January 12, 2011 SLOWLY but surely, the real cost of the return to the politics of envy is becoming clear. Figures out last night confirmed yet again that crippling tax hikes are driving people and economic activity away from Britain. Rather than raising extra tax receipts to plug Britain’s budget deficit, there is growing evidence that the raids [...]
What the other papers are saying this morning January 12, 2011 FINANCIAL TIMES GERMANY BACKS WIDER RESCUE FUND ROLE Germany is backing proposals to give new powers and lending capacity to the €440bn Eurozone rescue fund, even if that means increasing its financial guarantees, according to people familiar with the issue in Berlin and Brussels. Such a move would be part of a package of measures, [...]
Woeful Arsenal have it all to do after Priskin stunner January 12, 2011 IPSWICH TOWN 1 ARSENAL 0 ARSENAL manager Arsene Wenger admitted his side were “poor in every department” as they slid to an embarrassing Carling Cup semi-final first leg defeat at Portman Road. Championship strugglers Ipswich, thumped 7-0 in the FA Cup at Stamford Bridge on Sunday, warranted immense credit for holding an Arsenal side which [...]
Tottenham’s plans to demolish Olympic Stadium would save club cool £200m January 12, 2011 TOTTENHAM hope to save around £200m by tearing down the Olympic Stadium and building a new ground in its place, if they see off West Ham in the battle to move to the site after the London 2012 Games. Spurs want to scrap the track at the Olympic venue and deliver an athletics legacy by [...]
DLR staff vote to strike January 12, 2011 CANARY WHARF is set to endure another round of travel misery, after workers on the Docklands Light Railway (DLR) voted in favour of strike action yesterday. The RMT union said 162 staff from operator Serco Docklands voted to strike, with 36 voting against action in a dispute over pensions, working hours and redundancies. David Stretch, [...]
