Austria counters UK with its own plan to veto EU budget November 12, 2012 EU BUDGET talks are due to resume tomorrow after collapsing without agreement on Friday. Britain is pushing for a real terms budget cut after MPs rejected government proposals to accept an inflationary rise. However Austria became the latest country to threaten to veto the deal yesterday. It wants to make sure agriculture subsidies are not [...]
Firms fret over next steps for energy supply November 12, 2012 BUSINESSES are increasingly worried about the UK’s attempts to bridge a looming energy gap, according to a survey out today. As the coalition races to secure replacements for ageing nuclear and coal power stations and fuel bills soar, research showed that almost six in 10 large businesses think energy security is becoming a “major concern” [...]
Government backs down on its proposal for a tax on eurobonds November 12, 2012 THE GOVERNMENT has dropped plans to change the law that enables companies to pay profits to overseas investors without being taxed. Leading City firms successfully lobbied against the change, telling the government that reforming the law would make it more difficult to raise funds and therefore make the UK less competitive and add to compliance [...]
Requests for flexible shifts will be harder to turn down November 12, 2012 NICK Clegg will this week announce plans to give all workers the right to apply for flexible working hours, with the aim of boosting female employment. Clegg’s proposals, which could be included in new legislation by 2014, will force firms to consider all requests “in a reasonable way”. At the moment only parents and some [...]
Firms could be rewarded for hiring Territorial Army soldiers November 12, 2012 PHILIP Hammond said yesterday that he has not ruled out “financial inducements” for firms who employ members of the Territorial Army. The defence secretary is seeking to expand the role of the part-time force in the face of budget cuts but will have to deal with opposition from businesses that object to losing their employees [...]
Reshuffle hits deal on flood cover for 200,000 homes November 12, 2012 EFFORTS to guarantee household insurance for 200,000 homes at high risk of flooding have been hindered by the recent government reshuffle, City A.M. has learned. A leading insurer said the recent reshuffle – which saw environment secretary Caroline Spelman replaced by Owen Paterson – has affected the much-delayed discussions. Members of the Association of British [...]
RBS hires bank to run float of 316 branches November 11, 2012 SWISS bank UBS will organise the formation of 316 RBS branches into a new high street bank, after the sale of the branches to Santander fell through last month. The European Commission is forcing RBS to sell off the branches – which come with 1.8m customers and close to 250,000 business accounts – by the [...]
Accountants to see pay soar in 2013 as demand for skills rises November 11, 2012 ACCOUNTANTS and finance workers will see strong pay growth this year, even as the wider jobs market remains sluggish, according to research out today from recruiters Robert Half. Changes like the introduction of pensions autoenrolment and a move towards global financial reporting and regulation means firms of all sizes are demanding more skilled finance staff. [...]
Stimulus on way for Switzerland November 11, 2012 The Swiss National Bank (SNB) is preparing to step in to boost growth, a top policymaker said, two months after the central bank cuts its 2012 GDP growth forecast to one per cent. Fritz Zurbruegg told the NZZ am Sonntag falling growth could merit monetary stimulus, though he did not give more details. The SNB [...]
Spain to scrap repossession push November 11, 2012 The Spanish state is set to stop the drive to foreclose on home loans after a woman committed suicide following an eviction. The government had been pushing banks to foreclose on bad loans in a drive to clean up their books and draw the financial crisis to a close. But the suicide on Friday of [...]
