Aviva puts its ethics to the vote April 25, 2010 Aviva, Britain’s second-largest insurer, is set to become the first UK company to allow shareholders to vote on its corporate responsibility practices this week, as it holds its annual meeting at the Barbican on Wednesday. Aviva chairman Lord Sharman, is leading calls for authorities to introduce requirements for businesses to follow suit, arguing that performance [...]
Homebase to post strong profits April 25, 2010 DIY store Homebase is set to post strong annual profits this week, after the pressures of the downturn pushed consumers to spend on improvements rather than moving house. Homebase, owned by Home Retail, is set to report a 168 per cent rise in operating profit to £40m, according to consensus analyst forecasts. However, Argos – [...]
GSK bans travel after ash crisis April 25, 2010 Pharmaceuticals group GlaxoSmithKline has placed a blanket ban on flying for staff in its European offices, in the wake of the volcanic ash crisis. The firm said its ban would be in place for at least a week to allow stranded employees the chance to return home.
Fed to keep interest rates on hold again April 25, 2010 A GROWING economy, a rising stock market, and rising employment suggests that normality is returning to the United States. Indeed, the chairman of the Federal Reserve, Ben Bernanke, appeared notably upbeat about the economy earlier this month. The US economy is forecast to grow at an annualised 3.5 per cent in the first quarter – [...]
Markets crave clarity over economic strategy April 25, 2010 SO A LITTLE disappointing but in the end there was something for everyone in Friday’s GDP numbers. We looked for 0.4 per cent for the first quarter and got 0.2 per cent. You’d think that would be bad for Gordon Brown but he revelled in his line that this proved the recovery was fragile and [...]
Corporate donations to US political parties under fire April 25, 2010 DEMOCRATS in the US Congress plan to unveil tough proposals this week to counter a Supreme Court ruling that allows corporations to spend unlimited amounts on elections. President Barack Obama, who took the unusual step of publicly criticising the ruling in his State of the Union address in January, has warned it will give corporations [...]
ECONOMIST VIEWS: WHAT WILL THE FED DO THIS WEEK? April 25, 2010 PAUL DALES | CAPITAL ECONOMICS “It is doubtful that the Fed will get any closer to dropping its pledge to keep rates exceptionally low for ‘an extended period’ at the two-day meeting that concludes this Wednesday. In fact, we continue to think that the Fed will keep rates on hold until at least 2012.” PHILIP [...]
Rich List shows huge swing back to wealth April 25, 2010 THE RICHEST people in the country saw an astonishing reversal in fortunes this year as their collective wealth rocketed more than £77bn. The annual Rich List compiled by the Sunday Times shows the super-wealthy managed to more than claw back losses made during the dark depths of the global recession. The wealth of the 1,000 [...]
Ash crisis sees the capital lose £100m April 25, 2010 LONDON has lost up to £100m from tourist spending as a result of the six-day flight disruption caused by the Icelandic volcano eruption. Visit London, the online tourism website, said yesterday that visitors arriving by air would have spent up to £17m a day in the city but that the airspace closure caused London an [...]
Lloyds and Och Ziff hedge fund plan to sell their Vue stake April 25, 2010 LLOYDS, the UK state-backed bank, and US hedge fund Och Ziff are considering selling their 48 per cent holding in Vue Enertainment. The cinema chain is part of Lloyd’s integrated finance portfolio, made up of stakes in 43 companies, which it inherited when it bought HBOS in 2008. Lloyds plans to sell the portfolio to [...]
