UBS says Basel preparation will delay dividends September 30, 2010 UBS shareholders let out a collective groan yesterday when the bank said it will not issue a dividend until at least 2013, instead opting to preserve capital ahead of tough new Basel III rules. The Swiss bank has not released funds to its shareholders since 2007 and it will now be at least three years [...]
ANALYST VIEWS: HOW DO YOU EXPECT ICAP’S BUSINESS TO FARE IN FUTURE? September 30, 2010 JAMES HAMILTON | NUMIS SECURITIES “The movement to a rising interest rate environment will stimulate trade directly in interest rates, bonds and FX – which will positively impact most of Icap’s product lines. This, coupled with anticipated revenue share gains by the higher margin electronic division, is driving our forecasts.” VIVEK RAJA | PANMURE GORDON [...]
Businesses warn mountain of red tape will cost billions September 30, 2010 A MOUNTAIN of new red tape will cost firms billions of pounds, business groups warned yesterday. The British Chambers of Commerce (BCC) said a raft of new employment regulation and the new Equality Act, which becomes law today, would hamper job creation and cost businesses £189.2m. Meanwhile the national minimum wage will today rise by [...]
Equality Act may cause surge in Tribunal claims September 30, 2010 LAWYERS warned that the Equality Act, which comes into force today, could cause a flood of claims to hit tribunals if businesses fail to comply with the new rules. The Equality Act 2010 was introduced by Labour deputy leader Harriet Harman’s and fulfilled a 2005 manifesto commitment. The Act brings together nine different anti-discrimination laws, [...]
Miliband faces Balls problem September 30, 2010 JUST as Labour recovers from the fraternal rivalry that gripped its conference this week, it looks as though a matrimonial battle is about to commence. New Labour leader Ed Miliband wants to appoint the former work and pensions secretary Yvette Cooper as his shadow chancellor. But Ed Balls – her husband – has coveted the top [...]
How Labour can win business back September 30, 2010 LABOUR’S new leader Ed Miliband certainly has a job in reconnecting the party with the business community. Think back to the election campaign. Hardly a business or business group had anything good to say about Labour, while many lined up to publicly back Tory policies. But business did pretty well over the Labour years since [...]
Harvey Nash sees City jobs bounce back September 30, 2010 RECRUITMENT specialist Harvey Nash said yesterday that a rise in jobs in financial services had helped the company to boost its profit. The firm saw pre-tax rise to £2.6m from £1.8m a year earlier as new life was breathed into the jobs market following the recession. An increase in regulation has seen companies recruit more [...]
Compass serves up growth September 30, 2010 COMPASS Group said it expected full-year earnings to rise by around 15 per cent after sales growth accelerated in the second half boosted by new contract wins and improved retention of existing customers. The group, which counts Chelsea Football Club, London’s O2 arena, the Bank of England and the US Senate among its clients, said [...]
Ofgem plans to halt quiet price hikes September 30, 2010 ENERGY suppliers will have to warn customers 30 days in advance before raising power and gas prices if a plan by watchdog Ofgem wins approval. Under current rules, suppliers can put up prices without notifying customers for up to 65 days afterwards. The rules will come into effect at the start of 2011, providing suppliers [...]
Blackstone’s James says capital is difficult to raise September 30, 2010 TONY James, president of US private equity business Blackstone Group, said yesterday there isn’t enough capital available from investors to fund all the opportunities he sees in the market. “In 2005 and 2006, if you put it out well, you could raise as much as you could invest,” James, 59, said at the Bloomberg Dealmakers [...]
