Banks lift salaries, cut bonuses January 10, 2010 Most banks have increased basic salaries and cut bonuses for executives in response to calls for leaner compensation packages after the financial crisis, according to a survey by consultancy Mercer. Four fifths of respondents in a survey of 61 banks and other financial services firms said they had made or plan to make changes to [...]
Eurostar disruption continues January 10, 2010 Eurostar services between London and Paris are still being affected by what it described as “severe” weather conditions. Eurostar will run a restricted service today and urged passengers to cancel or postpone their trips if possible. Some late evening services will be cancelled. Disney services are running normally. Early morning and late night services were [...]
Tories unveil plans to help small firms January 10, 2010 DAVID Cameron yesterday announced a raft of measures to help small businesses, as he attempted to portray the Tories as a party of entrepreneurship. He said a Tory government would end the “anti-aspiration” culture that had been fostered under Labour, by increasing the insolvency threshold and reducing the number of days it takes to get [...]
Election2010 January 10, 2010 TORIES TO CUT IMMIGRATION Immigration would fall by as much as 75 per cent if the Conservatives win the next general election, David Cameron said yesterday. He said he would use an annual cap to push net immigration from around 200,000 in recent years to the tens-of-thousands last seen under the Thatcher and Major governments. [...]
City gets New Year jitters as outlook dims January 10, 2010 BANKS and securities traders expect profits to flatten in the coming quarter, indicating weak short-term expectations among City players. Sentiment across the Square Mile is downbeat as the New Year gets underway, according to a survey by the CBI and PricewaterhouseCoopers. The report found the majority of financial services firms were concerned the booming business [...]
Oleg Deripaska cancels 2007 deal to acquire Russneft firm January 10, 2010 Russian tycoon Oleg Deripaska has pulled out of a deal struck in 2007 to acquire oil firm Russneft from its founder, Mikhail Gutseriyev. The deal was reversed because Deripaska failed to win permission from the Russian government’s commission on foreign investment in strategic industries. Approval from the commission, chaired by Russian prime minister Vladimir Putin, [...]
Ex-Lupus man in bid to rejoin January 10, 2010 The ousted boss of industrial investor Lupus Capital has launched a second attempt to be reinstated to the board. Greg Hutchings was ejected as executive chairman last July after the company breached part of a lending agreement. He then made a failed effort to rejoin in October. He has requested another extraordinary meeting with an [...]
Bolland to start crunch talks January 10, 2010 MARC Bolland will jet back early from holiday to have crunch talks with Wm Morrison about his departure date. Soon-to-be new employer Marks & Spencer wants him to start as chief executive as soon as possible but under the terms of his contract the Dutchman still has nine months notice to work. Morrison’s is believed [...]
FTSE profits overseas January 10, 2010 Almost all profits made by blue chip FTSE 100 companies are generated outside the UK, according to a report from financial website, The Motley Fool, which says the sluggish recovery of the UK economy will not affect the performance of blue chip shares. The research shows 83 per cent of FTSE profits are from overseas, [...]
UK spending could spark bond crisis January 10, 2010 THE UK faces a currency and bond crisis by 2016 if government expenditure is not drastically cut, according to new findings by the Centre for Economics and Business Research (CEBR). The current level of public spending will fuel a slight acceleration in economic growth of around 0.25 per cent for the next five years but [...]
