SPORT | IN BRIEF May 13, 2010 Paulie questions Khan power BOXING: Paulie Malignaggi has questioned Amir Khan’s reputation as a big puncher as he goes in search of his WBA light-welterweight belt in New York. Khan, 23, boasts 16 knockouts in his 22-1 record, but New Yorker Malignaggi, used the Bolton fighter’s points victory over Gairy St Clair in 2008 to [...]
Cameron and Clegg promise new order May 12, 2010 POLITICAL EDITOR ■ New government will hike capital gains tax, hitting private equity and buy-to-let ■ FSA given stay of execution after Tories and Lib Dems broker compromise deal ■ George Osborne will chair commission to examine break up of big banks PRIME Minister David Cameron hailed an “historic and seismic shift in politics” yesterday, [...]
Cameron appoints his coalition cabinet May 12, 2010 1. DAVID CAMERON Prime Minister Tory leader becomes PM, as well as First Lord to the Treasury 2. NICK CLEGG Deputy Prime Minister Liberal Democrat leader is Deputy PM, overseeing political reform 3. GEORGE OSBORNE Chancellor Former shadow chancellor is moving in to Number 11 4. WILLIAM HAGUE Foreign Secretary A former Tory leader, Hague [...]
Great stuff on the deficit; less good for UK businesses May 12, 2010 WE are only just into day three of the new government and already powerful themes are beginning to emerge. The policies announced yesterday can be divided into three categories: those that will address the crippling budget deficit and will therefore help stave off an immediate fiscal, sterling and gilts crisis; those that will boost competitiveness [...]
WHO’S CALLING THE ECONOMIC SHOTS? May 12, 2010 Q. WHICH POLITICIANS WILL MAKE UP THE NEW TREASURY? A. George Osborne, David Cameron’s sidekick as shadow chancellor during the Tories’ past few years in opposition, becomes chancellor of the Exchequer, the second biggest role in government. His deputy will be Liberal Democrat negotiator David Laws, the party’s former schools spokesman and the MP for [...]
Business and King welcome spending cuts May 12, 2010 BANK OF ENGLAND governor Mervyn King yesterday hailed the new coalition government’s plans for an immediate £6bn cut in public spending to tackle Britain’s record peacetime deficit, saying it was imperative that Britain’s fiscal problems are dealt with sooner rather than later. Breaking from his traditional silence on fiscal policy, the governor said he had [...]
FSA survives after Lib-Con compromise May 12, 2010 THE FINANCIAL Services Authority (FSA) was given a stay of execution yesterday, after the Tories had to scrap plans to disband the watchdog under a deal brokered with their Liberal Democrat coalition partners. Chancellor George Osborne was preparing to wind down the FSA, dividing its responsibilities between the Bank of England and a handful of [...]
Government may spilt up large banks May 12, 2010 BANKS may be forced to split their retail and trading operations in a bid by the new coalition government to water down risk in the City. The Conservatives and Liberal Democrats yesterday announced a one-year inquiry into the sector that could see the so-called “Volcker rule” imposed on the UK’s institutions. The rule, named after [...]
How long will the Con-Lib coalition last? May 12, 2010 THE NEW Conservative-Liberal Democrat coalition government was formed yesterday. But how much confidence does it inspire in the City? And will it be able to last a full five years? With jittery financial markets, it will have to reassure the UK’s debtors, but will it be able to? And what of Sterling, which has fallen [...]
City plans to lobby new government over AIFM May 12, 2010 LEADING figures from the hedge fund and private equity industries are preparing to lobby the new government to stick up for the City’s interests in Europe. Groups will court the incoming financial services minister – yet to be appointed – to stress the importance of amending the controversial Alternative Investment Fund Managers (AIFM) directive being [...]
