Green agenda is a big political risk July 10, 2011 Energy minister Chris Huhne engaged in a battle of words yesterday, dismissing claims that the UK could end up with energy prices “towards the highest in the EU” – as calculated by the Electricity Policy Research Group at Cambridge University. “Absolute nonsense” snapped Huhne, arguing that prices would eventually be lower if the UK moved [...]
Costs crunch at biscuit firm July 10, 2011 UNITED Biscuits UK saw its operating profits jump by 10.4 per cent to £218.5m last year, its latest accounts published on Companies House show. The increase in earnings came despite revenues growth of just one per cent to £1.06bn, with cost-savings driving the bulk of the earnings boost at the UK arm of the company [...]
City plays crucial role in stronger civil society July 10, 2011 ONE of my priorities as Lord Mayor is to strengthen the centuries-old tradition of working to improve the lives of others. The City has a crucial role to play in building a stronger civil society, especially as the Square Mile neighbours some of the poorest areas in Europe. Contrary to reports of bankers and their [...]
Coalition fails to achieve most competitive corporation tax rate July 10, 2011 THE government is set to fail in its bid to produce the most competitive corporate tax system in the G20, according to research from Oxford University released today. The UK currently has the ninth lowest corporation tax in the G20. This will improve to fifth if the coalition’s reforms are seen through, but only if [...]
M&S margins in squeeze July 10, 2011 MARKS & SPENCER gives a first quarter trading update this week, with analysts predicting pressure on margins after the retailer launched its earliest ever summer sale. Chief executive Marc Bolland is overhauling the retailer with a plan aimed at improving web sales and bringing in hundreds of new food lines. Keith Bowman at Hargreaves Lansdown [...]
John Lewis blueprint for public sector July 10, 2011 DAVID Cameron is set to introduce plans for a string of mutuals in the image of John Lewis, in a move he hopes will shake up the public sector and hand “choice and control” to communities. The mutuals are planned to cover all aspects of the public sector including education, healthcare, council services and private [...]
Liabilities to add billions to UK debt July 10, 2011 GOVERNMENT debt will be officially listed as totalling trillions rather than billions of pounds by the Treasury this week. Future liabilities from public sector pensions and projects agreed under private finance initiatives (PFI) will be included in the UK’s debt figures, released by the department. The government has been under pressure to produce a comprehensive [...]
Fewer jobhunters in City July 10, 2011 APPLICANTS for City jobs dropped by a fifth in the past year as bankers chose to stick with their current roles, new research today shows. The number of qualified applicants for every new job in the City fell 20 per cent in the three months to June to 1.68, from 2.13 in the same quarter [...]
Ex-Ikos analyst accused of stealing files July 10, 2011 A CYPRUS court has heard how a financial analyst allegedly stole secrets from hedge fund tycoon Elena Ambrosiadou, as the fall-out from her messy divorce with estranged husband Martin Coward took a fresh turn. Vincent Pfister, a former employee at Ambrosiadou’s $2.5bn (£1.5bn) Ikos hedge fund, is alleged to have stolen vital computer codes key [...]
Key financial players led by new ECB boss July 10, 2011 THE NEW president of the European Central Bank, Mario Draghi, leads a trio of regulators that rank amongst the most important figures in European financial markets, according to a new list published today. The ranking of the 100 most influential people in European financial markets, published today by Financial News, comes as rulemakers tighten up [...]
