Warren: Cleverly deserves belt May 18, 2011 BOXING: Promoter Frank Warren expects Nathan Cleverly to be awarded Juergen Braehmer’s WBO light-heavyweight title after Saturday’s fight was called off. The pair had been due to meet at London’s O2 Arena but the German pulled out with an eye injury. Warren believes Braehmer will be stripped of the title and Welshman Cleverly will defend [...]
Double crisis rocks cabinet May 18, 2011 THE CABINET was close to a full-blown crisis last night as pressure mounted on two of its most high-profile members to step down. There were calls for Ken Clarke, the justice secretary, to be sacked after he made insensitive and controversial remarks about rape. And the police launched a probe into claims that Chris Huhne, [...]
BROWN’S IMF HOPES FADE May 18, 2011 THE SWEDISH finance minister dealt another blow to Gordon Brown’s already slim chances of becoming the next leader of the IMF yesterday, saying he is “not right” for the job. Anders Borg believes Brown’s financial record should count against him. French finance minister Christine Lagarde is seen as the early favourite to take the job, [...]
ECB slams EU’s Greece stance May 18, 2011 THE EUROPEAN Central Bank (ECB) has rejected a softening of the EU’s stance towards Greece, saying that Athens’ problems cannot be solved by restructuring. In a sign of the divisions at the heart of the Eurozone, ECB board member Juergen Stark said yesterday: “It is an illusion to think that a debt restructuring, haircut or [...]
We are not facing a jobless recovery May 18, 2011 IT is the story the doom-mongers don’t want you to hear. There are now 416,000 more people in work in the UK than there were a year ago. So much for a jobless recovery: it is a complete myth. The total number of people in work rose by 0.4 per cent in the first-quarter and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2011 FINANCIAL TIMES IRAN SETS STAGE FOR TENSE OPEC MEETING Iran’s president, who has declared himself “acting” oil minister, might chair next month’s meeting of Opec, according to a senior aide, setting the stage for a highly politicised gathering of the cartel. Mahmoud Ahmadi-Nejad, who is locked in a power struggle with rivals in Iran’s conservative [...]
Fed seen as more hawkish May 18, 2011 THE FEDERAL Reserve should begin to normalise interest rates at the end of this year, according to several members of the Federal Open Markets Committee (FOMC) as revealed by minutes of the Fed’s 26-27 April meeting released last night. However, the committee is split, with others believing that “underlying inflation remained subdued” and “longer-term inflation [...]
New rules for credit rating agencies May 18, 2011 Credit rating agencies would have to reveal more about how they judge financial products, and how those ratings perform over time, under proposals issued by US securities regulators yesterday. The Securities and Exchange Commission voted unanimously to seek public comment on more than 500 pages of reform proposals on everything from conflicts of interest to [...]
TUI unveils pensions shake-up May 18, 2011 In a unique deal aimed at reducing its pension costs, holiday firm TUI Travel yesterday revealed a plan to overhaul its pensions structure, saving the firm £38m a year and limiting growth in its defined benefit schemes to 2.5 per cent a year. TUI has also pledged to hold up value in its Thompson and [...]
Glencore stock starts trading May 18, 2011 CONDITIONAL trading kicks off in the biggest float in London’s history this morning, with newly issued shares of commodity giant Glencore expected to open at a price of 530p. That would be precisely in the middle of the 480-580p price range it set before its investor roadshow. The price values the company at $60.1bn or [...]
