WHAT ARE YOUR PREDICTIONS FOR WEDNESDAY’S BUDGET? March 21, 2010 ROGER BOOTLE | DELOITTE “The chancellor will point to the fragility of the economic recovery in resisting calls from some economists for a faster fiscal consolidation. Any modest proceeds from lower unemployment and the bonus tax windfall are likely to be largely spent rather than saved, hardening the election battle lines.” DAVID BUIK | BGC [...]
Vince Cable says he is ready to be a coalition chancellor March 21, 2010 LIBERAL Democrat shadow chancellor Vince Cable has declared he is ready to serve as chancellor in a coalition government, as the polls continue to point to a hung parliament. Despite party leader Nick Clegg’s stated refusal to consider a coalition with either Labour or the Conservatives before the general election, Cable confirmed he would be [...]
Barclays Capital chief in line for a bumper £60m payday March 21, 2010 BOB Diamond, Barclays’ highly-respected investment banking chief, has been handed a equity-based incentive pay package by the bank which could be worth up to £60m by the time the shares are cashed in. Diamond, whose basic salary is £384,000, has already been handed £6m of shares which vest in three years’ time. He could also [...]
Barclays to boost new business March 21, 2010 BARCLAYS, the UK’s second-largest bank, is today launching a campaign to boost renewed optimism in the business world, offering £500,000 to the country’s most promising entrepreneurs in conjunction with Ariadne Capital boss and City A.M. columnist Julie Meyer. The “Take One Small Step” competition will award an equal share of £500,000 in cash to each [...]
Firms fail on reporting standards March 21, 2010 The majority of FTSE 350 firms are failing to provide clear enough information when reporting, leading problems with communication with investors, suppliers and customers, a new report from PricewaterhouseCoopers has found. The report said firms concentrate too hard on “box-ticking” when it comes to regulatory reporting requirements, but are not releasing enough clear-cut detail on [...]
City duo launch cleantech adviser March 21, 2010 Adam Hart, the former chief executive of boutique investment bank Fairfax, and Elliott Mannis, the ex-chief executive of listed biodiesel group D1 Oils, have teamed up to launch London Bridge Capital, a corporate finance advisory firm specialising in the environmental economy. The pair will provide strategic corporate finance advice and management support to companies in [...]
Sky may sell Premier footy on Freeview March 21, 2010 BSKYB could soon offer pay-per-view Premier League games and movies to customers through their set-top box. Broadcast watchdog Ofcom is expected to change the rules to allow the new venture this week as part of a massive shake-up of broadcasting laws. The ruling would allow Sky access to millions of homes that do not currently [...]
Freeview could be a poisoned chalice March 21, 2010 THE outcome of Ofcom’s long-anticipated review of the pay-TV market is the world’s worst secret: it will almost certainly make BSkyB slash the amount it charges rivals to show its premium content. Less attention has been given to the ways in which Ofcom might placate Sky. Allowing the pay-TV giant to access customers via the Freeview [...]
EMI plans to raise £400m in rights lease March 21, 2010 TROUBLED music group EMI could offer rivals the chance to cash in on its star artists’ back catalogues as it desperately seeks to stave off a takeover bid. The label faces a spiralling cash crisis and is at risk of being bought up by its biggest lender, Citigroup, unless it can raise funds. It hopes [...]
Dubai debt plan to fuel stocks March 21, 2010 DUBAI’S debt restructuring proposal will determine the fate of UAE equity markets as the ailing emirate seeks support from Abu Dhabi, with markets poised to rally if the deal includes guarantees, analysts said. Dubai’s index has been resurgent, gaining 12.8 per cent in 12 trading days, as investors bet a restructuring deal would be more [...]
