Strong GDP growth dashes chances of further QE October 26, 2010 THE UK’s unexpectedly strong growth last quarter will mean the Bank of England will keep the presses off and delay any restart to quantitative easing (QE), according to City economists. Preliminary growth figures released yesterday showed that the economy smashed consensus forecasts of 0.4 per cent to surge 0.8 per cent from July to September. [...]
Court drama over EMI deal October 26, 2010 CITIGROUP banker David Wormsley yesterday testified that he could not remember specifics of any of the phone calls that are at the heart of a civil fraud trial over Terra Firma private equity chief Guy Hands’s $6.4bn (£4.2bn) purchase of EMI in 2007. In the first full day of court battle between the two former [...]
Jenkins backs Henson’s Saracens move October 26, 2010 WALES assistant coach Neil Jenkins has welcomed the prospect of centre Gavin Henson relaunching his stagnant career at Saracens. Henson has not played competitively for 18 months but is eager to return to the game and has this week trained with Sarries with a view to a move from Ospreys. The 28-year-old still harbours hopes [...]
Strong recovery requires a rate hike October 26, 2010 So much for the merchants of doom and all of those who, desperate for another fix of cheap money, have been calling for a resumption of quantitative easing. They have all been proved completely wrong. Yesterday’s excellent GDP growth numbers confirm what I have long been arguing: that far from being on the brink of [...]
Moody given green light to play for Bath October 26, 2010 ENGLAND manager Martin Johnson has opted to release his captain Lewis Moody for Premiership duty this weekend but won’t be taking a similar risk with Toby Flood. The Leicester fly-half is still working his way back to full fitness after injuring knee ligaments on the opening weekend of the season and is being protected by [...]
Ex-insurance boss is jailed October 26, 2010 A FORMER chief executive of a City firm who admitted paying bribes to win contracts overseas has been jailed for 21 months. Julian Messent, 50, resigned in 2006 as chief executive officer at insurance firm PWS – founded by former UKIP leader Lord Pearson – after admitting to funnelling £1.2m worth of corrupt payments to [...]
Indonesia facing double disaster October 26, 2010 Indonesia is facing the double disaster of a volcanic eruption and a tsunami. Yesterday’s eruption of Mount Merapi killed at least 18 perople and forced thousands to flee their homes as the volcano spewed burning ash above the island of Java. About 1,300 km west, rescuers raced for Indonesia’s Mentawai islands, which was hit by [...]
PayPal expects $1bn payments October 26, 2010 Online payments system PayPal said yesterday that $1bn (£631m) in transactions will flow through its developers’ platform this year, driven largely by payments made over cellphones. PayPal opened its platform to outside developers last year and has so far attracted 50,000 worldwide. Some 1,000 outside applications have been launched for use on the platform, said [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 26, 2010 FINANCIAL TIMES CHINA AND US CLOSER ON TRADE TARGETS China and the US have the basis for an agreement at the summit of the Group of 20 leading nations next month on setting targets to cut trade imbalances, according to an adviser to the Chinese central bank. Li Daokui, a member of the central bank’s [...]
Indian chicken giant hatches £46m Rovers deal October 26, 2010 OIL billions may have transformed Chelsea and Manchester City into global superpowers but Blackburn believe they have found a saviour in an altogether less glamorous industry: chicken. Indian poultry giant Venkateshwara Hatcheries Group, or Venky’s as it is often known, expects to complete a £46m takeover of the top flight strugglers next month. It would [...]
