All change for Square Mile shopaholics October 24, 2010 SHOPPING centre One New Change opens its doors to customers on Thursday, though up to 30 per cent of the shops will not be ready for the launch. Several people close to the development have said between 70 and 90 per cent of retailers will open on Thursday, with the rest aiming to complete their [...]
Trades Union Congress warns of biggest protest October 24, 2010 UNION umbrella body the Trades Union Congress (TUC) at the weekend warned that it will stage the “biggest and boldest” demonstration in its history next March, in protest at the scale of government spending cuts. The TUC’s warning came after the government last week announced plans to cut half a million public sector jobs, raise [...]
Bankruptcy plan for Tribune October 24, 2010 Tribune Co, publisher of the Los Angeles Times and Chicago Tribune, has filed a reorganisation plan in a bankruptcy court that would turn control over to its principle creditors and aims to keep the media giant intact. The Chicago-based company wants to turn over control over to some of its loan holders, including J.P. Morgan [...]
Equinox Minerals buys Citadel October 24, 2010 Australian copper miner Equinox Minerals yesterday agreed to buy Citadel Resource Group, the Melbourne-based company developing Saudi Arabia’s biggest copper deposit, for around A$1.23bn (£774m). The offer is one Equinox share for every 14.3 Citadel shares, plus A$0.105 per Citadel share in cash. Equinox shareholders will own about 81 per cent of the combined firm.
Families cut back spending October 24, 2010 THE health of household finances and consumer confidence are in sharp decline, according to a survey released by research firm Markit today. The index measuring expectations for future household finances dropped from 40.7 to 37.7, with 50 being the break-even point that indicates no change in sentiment. The sharpest drop was among those working in [...]
The City must have a competitive tax regime October 24, 2010 At a time when many western economies are experiencing sluggish growth and painful fiscal readjustment, it is more important than ever that the UK strengthens ties with high growth markets to sustain and indeed accelerate our recovery. So as I prepare to lead a business delegation to India next week, fresh from visiting Latin America [...]
New homes attract stronger valuations October 24, 2010 THE new homes market continued to outperform the general market in September despite an increase of almost 300 per cent in the number of homes coming to market, a study showed. The average price of a new home increased 1.3 per cent to £222,561, whereas figures from mortgage provider Halifax indicated that general market prices fell [...]
ANALYST VIEWS: HOW VITAL IS CONSUMER SPENDING TO THE RECOVERY? October 24, 2010 HOWARD ARCHER | IHS GLOBAL INSIGHT “Consumer spending is 65 per cent of the economy – it’s such an important part of the economy that if the consumer doesn’t spend it’s hard to see the economy gaining momentum. Everyone would love exports to take up the growth mantel but I think it’s wishful thinking.” MICHAEL [...]
Coal India: 245 rupee price likely October 24, 2010 The Indian government is likely to price state run Coal India’s initial public offering at 245 rupees (£3.51) per share, at the top end of the price range, four sources with direct knowledge of the matter said yesterday. A panel of ministers will finalise the offer price late today, said the sources. Coal India’s IPO, [...]
Apple cuts out Adobe Flash October 24, 2010 Apple has said it will no longer ship Mac computers with Adobe Systems’ Flash player pre-installed, as the company continues to erect barriers to the software. Apple’s decision does not ban Flash software from its computers – as it has from the iPhone and iPad. Users will still be able to download and install a [...]
