Financial markets wobble as government delays Syria vote August 28, 2013 As MPs here and politicians around the world discuss the increasing probability of military intervention in Syria, there was a timely reminder yesterday that deciding whether or not to take action is the easy part. Ten years ago Parliament voted in favour of intervention in Iraq and the years since then have seen a tremendous [...]
Rupee suffers worst day for almost 20 years August 28, 2013 THE INDIAN rupee suffered its biggest one-day drop against other currencies in 18 years yesterday, falling 3.7 per cent against the dollar. The currency fell to 68.8 to the dollar, pushing above 69 in trading through the afternoon, and hitting 107 to the pound at the same time. In response, the Reserve Bank of India [...]
Tech firms grab City office space August 28, 2013 TECHNOLOGY, media and telecoms (TMT) firms in the City are to expand by almost a quarter this year as businesses come in search of bigger offices and better value rents. TMT companies took up 869,000 square feet of office space in the first half of the year, Knight Frank said yesterday. The firm expects this [...]
Serco caught in prisoner escort fraud claims August 28, 2013 THE chief executive of FTSE 100 security firm Serco said he was “appalled” last night after the discovery of allegedly fradulent behaviour by some Serco staff working on a prisoner transfer contact. Staff at the FTSE security firm are alleged to have recorded prisoners as having been delivered to court by its vans on [...]
What the other papers say this morning – 29 August 2013 August 28, 2013 FINANCIAL TIMES Amazon tax fight in Supreme Court Jeff Bezos’s Amazon is taking a high-stakes legal battle to the US Supreme Court, hiring one of Washington’s most prominent lawyers Ted Olson to fight the taxation of its shoppers in New York state. Amazon wants the court to review a case about the most incendiary political [...]
Governor stands firm on plan for UK interest rates August 28, 2013 INTEREST rates could stay at rock bottom even after unemployment falls below seven per cent, Bank of England governor Mark Carney said yesterday. In a bid to convince sceptical markets he really is serious about keeping rates down for the next three years, Carney said he would look for a wide range of evidence that [...]
Biscuit maker Burton’s looks for jammy deal August 28, 2013 BRITAIN’S second largest biscuit maker has been put up for sale, with an estimated pricetag of £350m – enough to buy 318m packets of its famous Jammie Dodgers. Burton’s Biscuit Company, which also owns Wagon Wheels and makes biscuits for Cadbury’s, plans to issue an information memorandum to prospective buyers next week. “We can confirm [...]
Football fans descend on Mayfair hedgie August 28, 2013 HEDGE fund Sisu Capital was targeted by a group of angry football fans last night, as Coventry City supporters protested outside the firm’s Mayfair offices. The fans are furious at Sisu, the club’s owners, for moving their team’s home games to Northampton, over 30 miles away from Coventry. Ongoing protests will be held outside the [...]
G4S sells shares to push down £2bn debt pile August 28, 2013 SECURITY group G4S yesterday drew a line under the swashbuckling era of former chief executive Nick Buckles as it announced a series of drastic moves designed to avoid an embarrassing credit rating downgrade. G4S – whose reputation took a battering after it failed to supply enough guards for last year’s Olympic Games – yesterday raised £350m [...]
Bottom Line: New broom sweeps in a fresh start August 28, 2013 LET’S move past the disappointing set of numbers that G4S released yesterday for a moment – investors certainly did – and take a closer look at Ashley Almanza, tasked with the unenviable job of turning the firm around after Nick Buckles fell on his sword in May. Just three months into the role, Almanza [...]
