UK plans armed ships to deter Somali pirates October 30, 2011 BRITISH merchant ships sailing off the coast of Somalia will soon be able to carry armed guards to ward off pirate attacks, Prime Minister David Cameron said yesterday. Britain is one of only a few countries with major shipping fleets to currently ban armed guards on its vessels, but owners of ships from other countries [...]
House prices now falling twice as fast October 30, 2011 THE DECLINE in house prices doubled its speed in October as economic turbulence scared prospective buyers and hit demand, a leading survey claimed this morning. Average house prices were down 0.2 per cent in England and Wales this month, compared to declines of 0.1 per cent in each of the previous five months, the report [...]
Retailers’ letter to Osborne hits out at planned tax hikes October 30, 2011 THE GOVERNMENT should back off and give retailers more space to aid the economic recovery, according to a letter sent to chancellor George Osborne this morning. The British Retail Consortium (BRC) is calling for slower hikes to the minimum wage and business tax rates, as well as genuine cuts to red tape and freer trade [...]
CBI: slash national insurance for companies hiring young jobless October 30, 2011 CUTTING national insurance contributions for companies employing young workers and strengthening links between schools and businesses will cut youth unemployment, the Confederation of British industry (CBI) claimed today. Giving companies a “young Britain credit” worth £1500 to take on unemployed staff aged between 16 and 24 will cover the first year of national insurance for [...]
WPP: Chinese revenues will overtake UK October 30, 2011 WPP, the world’s largest advertising company, sees China overtaking the UK as its second biggest market in two to four years. Chief executive Martin Sorrell has embarked on a blistering acquisition drive in emerging markets, with a string of investments in China. His firm’s revenue in the booming market is about $1.1bn (£680m), making it [...]
Bullish October shows that investors were not spooked October 30, 2011 OCTOBER has a reputation for being a troublesome month for financial markets, and memories of the 1987 crash still linger. So stock market bulls have been cheered by the four-week rally, although there are fears that fresh buyers are reluctant to step in at current elevated levels. This week brings a string of important economic [...]
The rising star tasked with proving the Labour party isn’t anti-business October 30, 2011 WHEN I first met Chuka Umunna, shortly after his election in 2010, it was already clear he was one of Labour’s rising stars. But few thought the MP for Streatham would ascend through the ranks quite so quickly. At the time, he told me he would use his first term to learn the ropes as [...]
FinnCap and Seymour top Aim advisers October 30, 2011 KEITH Harris’s stockbroker Seymour Pierce has remained the City’s top nominated advisor to small and medium-sized listed firms in the past four years despite unprecedented change in the market, research group Morningstar reveals today. Seymour Pierce remains the biggest of all City Nomads, even though its client base has slipped from 101 companies in October [...]
Life insurers to see sales fall on tough economy October 30, 2011 ECONOMIC gloom and a tough three months for financial markets are expected to take their toll on life insurers’ third-quarter sales figures due in the coming weeks, analysts said yesterday. Only a few insurers with a foothold in popular niche markets are expected to outperform, but these will see double-digit sales increases, they said. “Figures [...]
WARM WEATHER EXPECTED TO HIT NEXT October 30, 2011 NEXT, the clothing retailer, is predicted to share in the retail sector’s gloom when it gives its third quarter trading update on Wednesday, after warm weather hit sales. The high-street favourite has largely managed to buck the downward trend in the sector, but is expected to report a fall in like-for-like sales of as much [...]
