G20 agrees on fresh support November 8, 2009 FINANCE ministers from the world’s richest nations have agreed to maintain fiscal support for economies until it is clear any recovery is sustainable. Meeting at the G20 summit in St Andrews on Saturday, delegates said concerns over unemployment and uneven growth in the short term meant the props of policy should be kept in place. [...]
China announces it will put another $10bn into Africa November 8, 2009 CHINESE premier Wen Jiabao promised $10bn (£6bn) of low interest loans to African nations over three years, at the opening of the China-Africa summit yesterday. The two-day forum being held in Egypt is being attended by representatives from 50 nations, including Robert Mugabe of Zimbabwe and Omar al Bashir from Sudan. Infrastructure, social programmes and [...]
A Tobin tax would destroy London without making the world safer November 8, 2009 It is imperative that Gordon Brown’s proposals to levy a Tobin tax on financial transactions be defeated. Such a tax would be a disaster: it would endanger Britain’s economic interests and do nothing for ordinary taxpayers or the stability of the financial system. Championing such a scheme reflects a failure to engage with the real [...]
India quickens reforms November 8, 2009 India’s long-stalled reforms to its financial sector yesterday gained momentum after Prime Minister Manmohan Singh said he would push through legislative changes, including reforms in the insurance sector which foreign players are eyeing. Investors have been keenly awaiting signs of a pick-up in the pace of economic reforms in India after disappointment that the re-elected [...]
The global war for talent is a battle we must win November 8, 2009 This time last year, in my first column for CityA.M., I spoke about the tough times we were about to face in the coming months and years and the importance of retaining the City’s global competitiveness during turbulent times. Now, as I come to the end of my term in office and as our economy [...]
Monday sickies and the January blues keep employees at home November 8, 2009 MONDAYS remain the most popular day for workers calling in sick, with one in three days off for illness falling at the start of the week. According to research by Mercer, the highest rate of absence occurs in January, with musculo-skeletal problems the most common cause, followed by viral infections and stress-related illnesses. Mercer’s research, [...]
OFT to be left out of pocket by Threshers November 8, 2009 THE Office of Fair Trading is set to be one of the biggest casualties from the demise of high street off-licence firm First Quench Retailer, as it is owed millions of pounds. First Quench Retailing, the parent company behind Threshers and Wine Rack off-licences, was one of six firms fined £173.3.m by the OFT last [...]
Gaming group Las Vegas Sands seeks up to 2bn in a Hong Kong share listing November 8, 2009 Gaming company Las Vegas Sands is set to raise up to HK$25.95bn (£2bn) through an initial public offering of shares in its Macau business, according to sources with direct knowledge of the IPO. The company is selling 1.87bn shares at HK$10.38 to HK$13.88 (80p -108p) per share, the sources said. The range gives an earnings [...]
Saudi Aramco switches index November 8, 2009 Saudi Aramco yesterday said its decision to adopt the Argus Sour Crude Index was due to “wild” variations in the barrels traded on the US Gulf Coast and those priced by West Texas Intermediate. Saudi Aramco, the state oil company of the world’s top oil exporter, has used WTI crude prices published by McGraw Hill’s [...]
Overseas buyers rush to snap up prime properties November 8, 2009 The demand for prime properties from overseas buyers has surged during the downturn, beating records for levels of interest from foreign parties. Richard Hill Estates, property developer of million pound homes, yesterday said that on average around 30 per cent of prime property enquiries it receives are from overseas buyers, but the figure at the [...]
