OECD: Bailouts distort investment June 14, 2010 Emergency bailouts by governments to cope with the financial crisis have distorted investment flows and should be scaled back as soon as it is safe to do so, an international report released yesterday said. But the UN Conference on Trade and Development and Organisation for Economic Cooperation and Development (OECD) also found that regular investment [...]
Business confidence falls June 14, 2010 Business confidence among British firms has seen its biggest drop since 1995 due to the government’s rhetoric on spending cuts, a survey suggests. The Business Trends survey from accountants BDO fell to 97 in May from 103.3 the previous month – the largest drop since the survey began. BDO said economic growth forecasts for this [...]
CITY VIEWS: WHAT did you make OF THE OFFICE for BUDGET RESPONSIBILITY’S REPORT TODAY? June 14, 2010 KAREN HEFFER | 85 DESIGN AGENCY “The Treasury didn’t necessarily get the figures wrong. Maybe there was a bit of creativity with the figures, in advance of the election. It didn’t matter to them because they weren’t going to be around to mop up the mess. But these figures are too important to be used [...]
International raiders set to steal the show on Ascot’s opening day June 14, 2010 FIVE days of quality racing gets underway this afternoon with arguably the race of the week, the Queen Anne Stakes. Last year’s winner Paco Boy meets multiple Group One winners GOLDIKOVA and Rip Van Winkle in a mouth-watering clash. My slight preference is for the French wonder mare who last month won the eighth Group [...]
HONDA STRIKE CHAOS CONTINUES June 14, 2010 HONDA workers at the car company’s Chinese factories downed tools yesterday. The workers, who have been in dispute with the company over pay, have walked out three times in the past month.
Cineworld in £40m digital investment June 14, 2010 ENTERTAINMENT chain Cineworld announced yesterday it will team up with Arts Alliance Media to install state-of-the-art digital technology in 77 of its cinemas so they can show 3D films.. The full digital rollout is expected to cost around £40m, including the £10m already spent over the last year converting one third of its screens to [...]
the INSIDER June 14, 2010 If you followed this column at Cheltenham, which was extremely profitable, you would understand that precautions need to be taken when you face five days of racing. The main requirement is not to go bust, so if we start with a bank of £1,000, the maximum we can bet per race is 10%. If SHEER [...]
Weir Group in Asia takeover June 14, 2010 ENGINEERING firm Weir Group agreed to buy Malaysia-based manufacturer Linatex for $200m (£138m) yesterday to help it grow in emerging economies. The group will pay $172.5m (£119m) in cash and assume £27.5m (£19m) of debts from Linatex. The deal is set to close in the third quarter of this year, and the group expects the [...]
Clyde & Co income drives through £100m barrier June 14, 2010 UK BASED law firm Clyde & Co has pushed past the £100m revenue barrier after seeing fee income climb by four per cent. The City based law firm saw 2009 revenue climb to £192m from £85m, while profits per equity partner (PEP) rose by 10 per cent to £605,000. Peter Hasson, chief executive said: “The [...]
Financial workers warn on dangers of UK going it alone on bank regulation June 14, 2010 AN OVERWHELMING majority of City workers are concerned at the new government’s avowed intention to go ahead with sweeping reforms to financial regulation even without cooperation from its G20 partners, a new report has shown. 84 per cent of those surveyed for law firm Berwin Leighton Paisner’s “Driving UK Growth: Review, Reform, Revive” report said [...]
