Roger Bootle gives warning on UK growth November 1, 2009 THE COMING public spending squeeze could cut Britain’s annual growth by up to two percentage points, a report warns today. With the government finances in the worst shape for at least half a century and public debt heading towards 100 per cent of gross domestic product, major spending cuts which will have profound effects on [...]
Business leaders urge political party heads to balance the budget by 2015 November 1, 2009 LEADERS of the three main political parties will face calls for urgent action to balance the national books at the annual conference of the Confederation of British Industry (CBI) later this month. The business lobby group will urge Conservative leader David Cameron, Liberal Democrat leader Nick Clegg and an as-yet unidentified “senior member of the [...]
DELOITTE CONSULTANT DUSTS OFF DANCING SHOES IN CINEMA DEBUT November 1, 2009 HERE at City A.M., we like to champion the interests of our dear parishioners, and there’s nothing The Capitalist likes better than hearing about one of the flock with aspirations in the glitzy world of showbiz. Step forward Sanjay Shah, a consultant at Deloitte, whose debut on the silver screen was shown across London for [...]
BILL OF THE WEEK November 1, 2009 OVER to French-Asian restaurant L’Etranger on Gloucester Road this week, where this large group of raucous City boys and girls certainly had something to celebrate. Our happy patrons dined off the £48 set menu, munching on everything from crispy squid with chilli and spring onion to caramelised black cod with miso, shoulder of lamb and [...]
Barclays at a loss after K1 hedgie fraud November 1, 2009 BARCLAYS may have lost up to $240m (£146m) in a case involving a German hedge fund founder arrested following a corruption probe into a caribbean-registered fund he ran. The bank is among a number of institutions affected by the case, in which German and US authorities are investigating Helmut Kiener, 50, who founded Germany’s K1 [...]
Blair eyed 1m fee to help Tesco in the Middle East November 1, 2009 EX-PRIME MINISTER Tony Blair held talks with supermarket giant Tesco over helping it expand into the Middle East, with the hope of earning a £1m fee. But the talks fell apart when Blair, who is now a peace envoy to the region, and Tesco couldn’t agree to terms. Blair considered acting as a figurehead for [...]
Spending drop for Christmas, says Execution November 1, 2009 BRITONS are planning to spend less on gifts this Christmas than last year as they worry about rising unemployment and taxes, putting into question signs of a recovery in consumer spending, a survey showed yesterday. Broker Execution interviewed a representative sample of 2,000 Britons from October 20 to 26 and found participants on average plan [...]
New figures reveal China’s growth burst November 1, 2009 HOPES of economic recovery in China were boosted by news yesterday that the country’s manufacturing sector grew at the fastest rate in 18 months in October. The purchasing managers index released by the state-sanctioned China Federation of Logistics and Purchasing rose to 55.2, nearly a full point higher than in September. This marked the eighth [...]
Iraq committee slams BP’s deal with CNPC November 1, 2009 IRAQ’S oil and gas committee has voiced concerns to officials in the UK over a deal which BP is due to sign with the Iraqi government tomorrow. The group slammed the multi-billion-dollar deal, calling it illegal, and said they should have a right to veto such plans, but the government disagrees, and believes cabinet approval [...]
Baugur boss looks for 35m November 1, 2009 Baugur boss Jon Asgeir Johannesson has been ordered to raise £35m to secure the future of the remains of his business empire. The tycoon, whose investment firm bought up half the UK high street before it collapsed last year, is battling to keep control of his Icelandic retailer Hagar. Kaupthing, the bank which leant him [...]
