Collapse in UK business investment gathers pace February 25, 2010 BUSINESS investment slumped in the last three months of 2009 by an annual 24.1 per cent – the worst since 1967 – as firms have been forced to cut costs and improve cash flow to survive the worst post-war recession. Official figures showed that investment in the fourth quarter declined at an accelerated quarterly pace [...]
MPC may need to extend QE February 25, 2010 Further quantitative easing may be needed, the Bank of England’s David Miles said yesterday. He said: “It is entirely plausible that as economic events unfold it will become clear that an even more expansionary monetary policy will be appropriate.” Miles had voted in November for a £15bn extension but earlier this month agreed it should [...]
Bridge: I won’t play for England any more February 25, 2010 ENGLAND manager Fabio Capello has not given up hope of selecting Wayne Bridge in his World Cup squad despite the defender turning his back on the national team. Bridge yesterday shocked England chiefs by announcing his international retirement, saying he felt his position had become “untenable and potentially divisive”. The left-back, 29, is thought to [...]
German jobless rate rises February 25, 2010 The number of people out of work in Germany has risen by less than expected in February, according to official figures. The Federal Labour Office said yesterfday that the number of jobless rose by 7,000 from the previous month, taking the unemployment total to 3.43m. The country’s unemployment rate rose to 8.7 per cent, from [...]
Losses at RBS are slashed to just £3.6bn February 25, 2010 Royal Bank of Scotland claimed its darkest days have passed as it posted annual losses of £3.6bn – down from £24bn in 2008. The group’s core business – which includes only the departments that will remain after the bank is forced to restructure – saw profits jump from £4.4bn in 2008 to £8.3bn last year. [...]
Borthwick in no mood to bow to critics February 25, 2010 DEFIANT England captain Steve Borthwick is refusing to back down over his controversial appraisal of the team’s performance against Italy. Borthwick, whose side face Ireland tomorrow, prompted raised eyebrows when he described elements of England’s play during the 17-12 win in Rome as “fantastic”. A workmanlike win drew little praise elsewhere, however, with even England [...]
Investment banking is star of show February 25, 2010 IT looks like Stephen Hester deserved his £1.6m bonus after all. Yesterday, the bank delivered a stronger-than-expected set of numbers, even if the mainstream media continued to fixate on the government’s decision to rubber stamp bonus payments for staff. Analysts at Nomura think RBS could end up back in the black before this year is [...]
Just £1.3bn bonus pot … but more than 100 will get £1m February 25, 2010 More than 100 Royal Bank of Scotland bankers will receive bonuses of more than £1m. The news comes as RBS announced it will pay out just £1.3bn in bonuses this year – the lowest compensation ratio in the industry. The ratio is set at just 27 per cent, far below the 38 per cent revealed [...]
New look board behind the turnaround at RBS February 25, 2010 The Royal bank of Scotland chairman yesterday pinned the bank’s change in fortunes on the strength of its new board. Philip Hampton said the people who brought the institution to the brink of collapse have all been culled. The board, which has stemmed RBS’ losses at £3.6bn after it lost £24bn the year before, has [...]
Gerrard creates history February 25, 2010 UNIREA URZICENI (1) v/s LIVERPOOL (3) LIVERPOOL boss Rafael Benitez hailed his side’s resilience after they came back from an early scare to set up a last 16 tie against Lille. Unirea levelled the tie on aggregate with a Joao Bruno Fernandes header after 18 minutes but the Reds hit back through Javier Mascherano, before [...]
