Pay falls at fund star’s UK offices June 17, 2010 SALARIES have tumbled at the London branch of the hedge fund run by Paul Tudor Jones, the billionaire trader who earned cult status by predicting 1987’s Black Monday crash. Tudor Jones, who is worth an estimated $3.2bn (£2.2bn) after three decades at the top of one of the world’s most successful investment companies, is renowned [...]
Spending cuts total £10.5bn June 17, 2010 THE government yesterday cancelled £10.5bn of projects, which were signed off when Labour went on a last-minute spending spree in the run up to the general election. Danny Alexander, chief secretary to the Treasury, told the Commons his hand had been forced by the “irresponsible financial planning” of the previous government. He announced he was [...]
UK needs more creative destruction June 17, 2010 IT was Joseph Schumpeter, the great economist, who first understood that capitalism is a process of creative destruction. Every day, new firms are born with fresh ideas, talent and technologies; old firms die when they become unable to meet customers’ needs efficiently and fail to make a better use of resources than their rivals. Competition [...]
Three Lions hoping for better rub of the Green June 17, 2010 ENGLAND vs ALGERIA TODAY – 7.30PM ITV THE Three Lions’ opening performance against the USA was undoubtedly disappointing, but a number of the top teams have started with a whimper rather than a roar. The USA were always going to be the most difficult opponents in Group C and I hope some of you followed [...]
BT could face long strike June 17, 2010 THE Communication Workers Union said last night it was prepared for a lengthy strike at BT, as the telecoms firm took to contacting workers directly in an attempt to avert industrial action. Andy Kerr, the CWU’s deputy general secretary, said that he was willing to organise a protracted strike in order to improve upon BT’s [...]
LIKE FATHER, LIKE SON IN THE WORLD OF SPIN June 17, 2010 TO THE Kensington home of City slicker Roland Rudd, the boss of PR firm Finsbury, last night for his annual party, one of the highlights of the summer schmoozing circuit. Grandees of the worlds of business and politics were there in their droves for the event, including WPP boss Sir Martin Sorrell; Royal Bank of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2010 FINANCIAL TIMES UGANDA TAX ROW DELAYS HERITAGE SALE OF OIL FIELD Uganda is insisting that Heritage Oil, the UK-listed oil explorer, must agree to pay $360m (£243m) in capital gains tax on the “super profits” it will make on a $1.35bn oilfields sale before it will sanction the deal. Uganda’s energy minister said the government [...]
UK postal service “should float” June 17, 2010 The chairman of Royal Mail said the organisation should plan for a multi-billion pound stock flotation in the next few years. Donald Brydon told the Financial Times that the state-owned postal service was entering a “new era” with a chance to tackle its pensions deficit, regulation and ownership. The government is drawing up a bill [...]
Lillie Langtry all set to be crowned Ascot Queen in Coronation Stakes June 17, 2010 YOU would have got a big price about Aidan O’Brien not training a single Royal Ascot winner, but the Ballydoyle maestro will arrive at the Berkshire course today without a winner on the board after three days of racing. However, I expect him to have a cracking afternoon and his LILLIE LANGTRY can land the [...]
Dooley to take over AIG assets June 17, 2010 AIG has promoted 32-year-old Bill Dooley to executive vice president for investments and financial services. Dooley will have overall responsibility for the insurer’s asset management group, taking over from Monika Machon who will continue as chief investment officer. He has held several senior roles in the firm including senior vice president of AIG Investment and [...]
