Myners: 50pc tax rate won’t raise much February 1, 2010 THE government has “significantly reduced” the level of revenue it expects to generate from the new 50p income tax band, City minister Lord Myners admitted yesterday. In a tacit recognition that high earners will find ways to evade the higher rate of tax, Lord Myners said he was doubtful the Treasury would haul in the [...]
Blankfein will not get $100m February 1, 2010 INVESTMENT bank Goldman Sachs yesterday moved to quash speculation among rival bankers that its chief executive Lloyd Blankfein may be in line for a bumper bonus of up to $100m (£62.8m), claiming the figure had been distorted out of hand. “Although the board has yet to determine executive compensation, given everything we have said and [...]
It’s time to halt quantitative easing February 1, 2010 ONE of the most important pieces of data is also one of the hardest to understand. Working out how much money is circulating at any one time in the economy is the Holy Grail of macroeconomics; those who can make sense of it have a huge advantage when it comes to predicting inflation, stock and [...]
Tories at sea, says Mandy February 1, 2010 LORD Mandelson yesterday said a Tory government would “strangle the recovery at birth” as the opposition accused Labour of being in “chaos” over its policy on spending cuts. He also accused David Cameron of “bobbing around like a cork in water”, after the Tories softened their stance on spending cuts over the weekend. “What we [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 1, 2010 FINANCIAL TIMES VANTIS FALLS £10.7M INTO THE RED Vantis, the AIM-quoted company acting as a liquidator to Stanford International Bank, fell £10.7m into the red in its first half to 31 October. The accountancy and professional services group incurred £11.7m of exceptional charges, mostly an impairment of current and intangible assets after a review following [...]
Kappler to leave Premier Foods February 1, 2010 David Kappler, the chairman who steered Premier Foods through its refinancing in 2009, is to move on later this year. Kappler said he will be seeking a board role elsewhere after six “hugely enjoyable” years at Premier.
Lombard to exit France Telecom February 1, 2010 France Telecom chief executive Didier Lombard will step aside after a string of suicides at its native operation hurt staff morale. Lombard will hand over to Stéphane Richard, his deputy, on 1 March. Richard is expected to steer the firm away from bolt-on acquisitions and instead focus on improving core activities. The France Telecom brand [...]
Blank makes comeback as UKTI adviser February 1, 2010 FORMER Lloyds Group chairman Sir Victor Blank has been brought in to advise the government on attracting overseas investment to the UK. Sir Victor, who resigned from the Lloyds board last year in the wake of its ill-fated takeover of HBOS, has taken a seat on a panel set up by Prime Minister Gordon Brown [...]
Obama warns on surging US deficit amid spending on jobs February 1, 2010 US PRESIDENT Barack Obama yesterday pledged to halve a record 2010 budget deficit by the end of his first term in office, but made tackling double-digit unemployment his immediate priority with a spending plan that risked public ire and a rough battle in Congress. Criticised by Republicans for raising taxes on wealthy Americans, Obama is [...]
South Korean pension fund to up its Gatwick stake to 12 per cent February 1, 2010 SOUTH Korea’s National Pension Service (NPS) plans to increase its stake in Gatwick airport to 12 per cent. The fund, which at $240bn (£150bn) is the fifth-largest pension vehicle in the world, wants to up its exposure to Britain ahead of the London Olympics in 2012. Gatwick is seen as a growth asset which stands [...]
