US firms face votes on pay June 10, 2009 US TREASURY secretary Timothy Geithner has promised new laws to force listed firms to put the pay packages of top executives to shareholder votes, although the results will not be binding. Geithner said shareholder-owned firms will have to hold “say on pay” votes over pay packages, following the public fury over so-called “fat cat” bonuses [...]
City braced for further disruption June 10, 2009 LONDON is set for another round of travel chaos today, as London Underground (LU) and the Rail, Maritime and Transport (RMT) union refused to budge on a dispute over pay. LU said last night they were “almost waiting at the table” for RMT to enter talks, while the union said it was the employer who [...]
RECESSION OVER FOR BATTERED BRITAIN June 10, 2009 A TOP think-tank yesterday called an end to the bitter recession that has been crippling Britain, in a move that was welcomed across the City last night. The National Institute for Economic and Social Research (NIESR) said output grew 0.1 per cent in May and 0.2 per cent in April. Martin Weale, its director, said [...]
HOW HAVE THE STRIKES HIT LONDON? June 10, 2009 COLIN STANBRIDGE LONDON CHAMBER OF COMMERCE“This strike is the last thing the London economy needs during a recession. Two-thirds of companies in the capital have frozen staff pay this year, yet the RMT is demanding more money for less work. Their position is unrealistic and untenable. Ending the strike 24 hours early will halve the [...]
City chaos as RMT strikes over salaries June 10, 2009 PANDEMONIUM hit the streets of London yesterday, after the Royal Maritime and Transport (RMT) union continued its 48-hour tube strike, which began at 7pm on Tuesday. Roads heaved under long traffic jams as thousands of commuters struggled to get around the capital without using the underground. Nervous novice cyclists wove in and out of traffic, [...]
US equities fall on interest-rate fears June 10, 2009 US stocks fell last night on worries that rising interest rates could put a damper on consumer and business spending, but stocks pared losses late in the session on a bond-market rebound. The market had extended losses after a 10-year Treasury note auction sparked a sell-off in bonds, pushing yields briefly above 4 per cent [...]
Benitez: Mascherano not for sale even for 50m June 10, 2009 LIVERPOOL manager Rafael Benitez yesterday warned Barcelona that no amount of money could prise midfielder Javier Mascherano from Anfield. The Argentine ball-winner’s agent has encouraged talk of a move to the European champions by declaring his client would welcome a switch. But Benitez has sought to end speculation about Mascherano’s future by insisting the 25-year-old [...]
Terry urges Chelsea to net Pato as Pirlo drops Blues hint June 10, 2009 CAPTAIN John Terry yesterday urged Chelsea to do what it takes to bring AC Milan wonderkid Alexandre Pato to Stamford Bridge. The 19-year-old has admitted he would be interested in a move to west London, following the tracks of his former Rossoneri mentor Carlo Ancelotti. Pato is believed to be unsettled by fellow Kaka’s world [...]
Heritage Oil slips as market talk fuels some profit taking June 10, 2009 THE large cap index gained nearly one per cent, or 31.96 points, higher yesterday at 4,436.75, driven by gains in mining and energy stocks, while banks rose on growing investor confidence. Mid cap Heritage Oil lost some of its recent gains, dropping nearly 11 per cent to 540p, amid profit-taking and some speculation that its [...]
England blitz Andorra to inch towards finals place June 10, 2009 ENGLAND (6) vs. ANDORRA (0)ENGLAND can book their flights to South Africa after effectively guaranteeing their place at next summer’s World Cup finals with a routine drubbing of Andorra. Wayne Rooney and his second-half replacement Jermain Defoe mercilessly punished opponents ranked 196th in the world by plundering two goals apiece. Frank Lampard and Peter Crouch also [...]
