Boris says bienvenue to Mittal as France threatens to nationalise November 27, 2012 BORIS Johnson yesterday slammed a French government minister as “eccentric” and said Indian steel boss Lakshmi Mittal should relocate his business to London, where he would be welcomed with open arms. French President Francois Hollande escalated an industrial dispute with the magnate yesterday, threatening to nationalise ArcelorMittal’s idle blast furnaces in Florange if they cannot [...]
Consumption underpins third quarter growth November 27, 2012 THE UK rebounded out of recession in the third quarter, figures out yesterday confirmed, driven by consumers pulling out their wallets and spending. Output grew one per cent between the second and third quarters, the Office for National Statistics said, the same as their original estimate – driven by the 0.6 per cent rise in [...]
OECD chops its UK forecasts as the Eurozone crisis rumbles on November 27, 2012 BRITAIN’S economic growth forecasts were slashed by the OECD yesterday, in a sign that chancellor George Osborne will face lower tax revenues and a higher benefits bill than he may have hoped for, hitting his chances of meeting his deficit targets. The think tank cut the UK’s forecast to 0.9 per cent growth in 2013, [...]
What do you think of the new bank governor? November 27, 2012 JOHN HENRY WICKS NORTHLAND CAPITAL Carney seems to be a very well qualified candidate, and the City has reacted very positively to his appointment. But I’m worried that the issues in the UK are different to those in Canada. ANDY LAVERY SCHNEIDER ELECTRIC Personally I think it’s nice. Carney kept Canada from recession, and prevented [...]
US talks down currency feud with China November 27, 2012 THE OBAMA administration yesterday said China’s currency remained “significantly undervalued” but stopped short of labeling the nation – now led by Xi Jinping (above) – a currency manipulator. The US Treasury noted that yuan had risen 12.6 per cent against the dollar since June 2010. Presidential candidate Mitt Romney had pledged to deem China a [...]
Nationwide in line to buy RBS SME customers November 27, 2012 NATIONWIDE’S profits were cut almost in half as the building society joined Britain’s banks in increasing its payment protection insurance compensation provisions, as well as recording losses on housing loans in its first half results published yesterday. The building society yesterday confirmed it would like to buy the 316 branches RBS is being forced to [...]
Maude wants government to hand contracts to private firms November 27, 2012 THE GOVERNMENT is today encouraging private sector firms to bid for more than 1,700 public sector contracts worth up to £84bn in the hope of stimulating economic growth. Writing in today’s City A.M., cabinet minister Francis Maude says that in the past unnecessary bureaucracy has hindered efforts to create strong links between the public and [...]
Pension funds in new drive to open up on savers’ fee costs November 27, 2012 SAVERS and employers are set to receive more information on pensions fees in a new drive to boost competition in the sector and improve pension funds’ reputations, with a fresh code of conduct published today. Firms following the new guidance will send employers a standard template summarising how pension charges are levied, and the services [...]
Buffett backs Dimon for US Treasury role November 27, 2012 BILLIONAIRE investor Warren Buffet yesterday threw his weight behind JP Morgan chief Jamie Dimon (above) as a possible successor to US Treasury secretary Timothy Geithner. “I think he’d be terrific,” Buffett said. “If we did run into problems in markets, I think he’d actually be the best person you could have in the job.”
Gritty draw lifts Harry’s QPR hopes November 27, 2012 SUNDERLAND 0 vs QUEENS PARK RANGERS 0 QUEENS Park Rangers manager Harry Redknapp insists the toughest challenge of his career looks a fraction less trying after inspiring the Premier League’s basement club to a battling draw in his first match in charge last night. Goalkeeper Rob Green’s outstanding reaction save to thwart a Steven Fletcher [...]
