There’s plenty of change in our Power Hundred December 21, 2010 INTRODUCING our City A.M./CityJet Power Hundred list for 2011 one is struck by the number of new entrants – 43 in all. Admittedly the last list was put together a couple of years ago, but there really have been dramatic changes since then. The biggest difference is the political landscape. Gone are the big beasts [...]
What the other papers say this morning December 21, 2010 FINANCIAL TIMES EMERGING MARKETS DEALS LEAD 16 PER CENT RISE IN M&A Dealmaking in emerging markets helped power a 16 per cent rise in global mergers and acquisition activity this year as companies moved to spend their cash piles outside of their home markets. Companies in developing countries struck 2,570 deals worth a total $502.6bn [...]
Culture secretary to rule on BSkyB December 21, 2010 THE OUTCOME of News Corp’s bid to buy a majority stake in BSkyB will be decided by Jeremy Hunt, in the wake of Vince Cable’s comments that he had “declared war” on Rupert Murdoch. The business secretary, who has been stripped of his power to rule on the takeover, will no longer play a role [...]
Telegraph says it was ready to publish exposé December 21, 2010 THE Telegraph has defended its decision not to publish Vince Cable’s explosive comments about Rupert Murdoch’s News Corp. The newspaper says it intended to run his secretly recorded comments today, as part of a fresh series of undercover stings on MPs. It yesterday featured Cable’s remarks about the coalition, withholding details about his views on [...]
Cable has lost all credibility, say key critics December 21, 2010 BUSINESS leaders and politicians said that it is now only a matter of time before business secretary Vince Cable is sacked after saying to two undercover reporters that he had “declared war on Rupert Murdoch”. Sir Alan Sugar, founder of electronics firm Amstrad, wrote on Twitter yesterday: “Cameron and his apprentice Clegg will dump Cable soon”. [...]
The case of the invincible business secretary December 21, 2010 WHEN Vince Cable told undercover reporters his departure from government would bring down the coalition, most Westminster insiders thought the famously grumpy business secretary was indulging in a little hyperbole. Few, if any, thought the audacious claim would be tested just a few hours later. In the event, the Prime Minister agreed with his business [...]
Liberal Democrat ministers hit out at child benefit cutbacks December 21, 2010 FRESH cracks appeared in the Coalition government yesterday after business secretary Vince Cable’s unguarded comments to undercover journalists as it emerged that several other Liberal Democrat ministers had attacked plans to scrap child benefit for higher rate taxpayers. The three senior ministers condemned chancellor George Osborne’s proposed policy, which will hit tens of thousands of [...]
Spain’s borrowing costs soar as Portugal faces rating cut December 21, 2010 SPAIN’S borrowing costs soared again yesterday at an auction of short-dated bonds, while the cost of Portuguese borrowing jumped after Moody’s put the country’s debt on review for a downgrade. Spain sold €3.9bn euros of three and six-month bills and was forced to pay interest of 1.8 per cent and 2.6 per cent respectively. Both [...]
Government debts soar as spending rises December 21, 2010 OUT of control government spending drove the public deficit to a record high for November, it was revealed yesterday. Despite rising tax revenues, government borrowing shot up to £23.3bn, almost £6bn higher than the same time last year, the Office for National Statistics (ONS) showed. The news piles pressure on chancellor George Osborne to get [...]
E&Y sued over Lehman audit December 21, 2010 NEW YORK prosecutors started a civil lawsuit against accountancy firm Ernst & Young yesterday over the company’s audits of Lehman Brothers ahead of the bank’s collapse. It is the first government-led legal action to be brought against those involved in Lehman’s bankruptcy in September 2008, which sparked the global credit crisis. New York attorney general [...]
