Leading firms support supply chain finance October 23, 2012 LEADING British firms including Tesco, BAE Systems and BT yesterday gave their backing to the government’s “supply chain finance” scheme, which aims to boost working capital for small businesses. David Cameron hosted business leaders at a Downing Street roundtable, where 38 leading firms agreed to actively consider implementing the scheme. Rolls-Royce and Vodafone, who already take [...]
Central Park rakes in $100m from Hedgie October 23, 2012 Hedge fund billionaire John Paulson has donated $100m to the Central Park Conservancy – the biggest gift in the New York park’s 155-year history. Paulson, a lifelong resident of the city, said the park is “the most deserving of all of New York’s cultural institutions” at a press conference with mayor Michael Bloomberg.
Gold Fields fires 8,500 workers October 23, 2012 ■ South African miner Gold Fields yesterday fired 8,500 striking miners after they ignored an ultimatum to return to work. The dismissal came as the gold company warned last week it could fire up to 11,000 wildcat strikers at its KDC West operation. The workers have 24 hours to appeal the dismissal. The South African [...]
Tesco moves key UK director October 23, 2012 ■ Tesco yesterday said it has moved one of the senior executives tasked with delivering the firm’s £1bn turnaround plan in its home market. The grocer said its UK fresh food commercial director Andrew Yaxley would leave the post he has held for over two years to prepare for a new management role. Yaxley’s duties [...]
France in Peugeot rescue talks October 23, 2012 ■ France is weighing up a state-backed rescue of parts of car maker Peugeot, according to reports. Politicians could provide support for the firm’s lending arm. France has no stake in Peugeot, which in July announced 8,000 additional job cuts and the closure of an assembly plant to halt spiralling losses.
Hague reveals roadmap to get back EU powers October 23, 2012 FOREIGN secretary William Hague yesterday unveiled details of a government review that paves the way for European Union powers to be repatriated to the UK. Hague said the “Balance of Competences Review” will detail areas where the EU can exert power in the UK. It will consider 32 distinct issues – starting with taxation, health [...]
Obama has a wafer-thin lead on Romney after final debate October 23, 2012 AMERICAN voters think that Barack Obama won Monday’s debate with presidential challenger Mitt Romney, but the incumbent’s lead in the poll lingers around the statistically insignificant one per cent mark, according to a poll yesterday. Obama leads by 47 per cent to Romney’s 46 per cent in a survey of likely voters partially conducted after [...]
Will you be rushing out to buy an ipad mini? October 23, 2012 BRENT MARTIN | BULLIVANT LAW There’s probably a place for it in the market, but I won’t be buying it. I’ve already got an iPad and it’s great for everything I use it for, all my law textbooks, and my phone is fine for reading on the Tube. It’s probably more of a Kindle competitor. [...]
Starbucks suffers more than Nike after reputational hits October 23, 2012 WE have recently seen two of the world’s biggest brands hit by potential PR crises. First up was Nike, which first continued to support and then ended their sponsorship of cyclist Lance Armstrong in the wake of doping revelations, followed shortly afterwards by ubiquitous coffee chain Starbucks, which was hit by allegations of (legally) avoiding [...]
Finance crimes to be offered plea bargains October 23, 2012 CORPORATE criminals could soon be offered US-style plea bargains, under a new scheme by the Ministry of Justice to encourage companies to admit wrongdoing and avoid fraud charges. Instead of facing an automatic prosecution, firms will be given the opportunity to publically own up to economic crimes, and given a strict set of conditions with [...]
