Osborne gets it wrong on cash bonuses October 26, 2009 AS bizarre policies go, the Tories’ latest thinking on bank bonuses takes some beating. For this year only, Britain’s commercial banks will not be allowed to pay more than a trivial bonus in cash – but they will be able to pay as many millions as they want in shares. The rule will only apply [...]
BAreadies itself for strikes this Christmas October 26, 2009 FEARS of a bleak?Christmas for British Airways (BA) were growing last night, after the Unite union said it would ballot its 14,000 cabin crew on strike action. Unions and BA management have been at loggerheads over cost-cutting at the airline, which is struggling to weather the financial storm. Nine months of talks fell apart yesterday [...]
RETAIL BANKS FACING EXODUS October 26, 2009 BRITISH high street lenders are facing an exodus of top talent to international investment banks if shadow chancellor George Osborne’s proposals to ban cash bonuses for retail bankers come to fruition, City headhunters warned last night. The proposals outraged the City, which decried the willingness of the Tories to put the UK at a disadvantage [...]
LSE CHIEF XAVIER ROLET PONDERS AN OVERHAUL OF INTERIOR DESIGN October 26, 2009 XAVIER Rolet, the dynamic new top dog over at the London Stock Exchange, just can’t seem to ease up in his quest to stamp his mark on the exchange. In the past few months, Rolet has been very busy – commencing talks to buy up rival Turquoise, axing the LSE’s long-standing M&A and PR advisers, [...]
Home builder fears drag on Wall Street October 26, 2009 US stocks fell for a second straight session last night as investors ditched home builders and financials on fears that a federal home buyer tax credit might be phased out, while commodity shares succumbed to pressure from the higher US dollar. Trading was choppy. Stocks initially started on firmer footing, with indexes up more than [...]
Weak banks and miners pull FTSEdown by one per cent October 26, 2009 THE FTSE 100 share index ended 1 per cent lower yesterday, with mining and energy stocks suffering as the US dollar rose and commodity prices fell, while a sharp decline in ING put pressure on financials. The index ended down 50.83 points at 5,191.74, having risen as high as 5,281.12 earlier in the session. It [...]
Vettel eyes second spot October 26, 2009 FORMULA ONE: Sebastian Vettel says he wants to end Red Bull’s “outstanding” season by finishing second in the drivers’ championship. Vettel lost out to Jenson Button for the drivers’ title in Brazil last week but lies two points in front of Brawn’s Rubens Barrichello in the battle for second ahead the inaugural day/night race in [...]
Waldouck out for a month October 26, 2009 RUGBY UNION: Wasps centre Dominic Waldouck has been ruled out for four weeks after fracturing a cheekbone. The 22-year-old was expected to be promoted from the Saxons squad to Martin Johnson’s 32-man England squad, but clashed heads with team-mate Serge Betsen in Saturday’s 35-6 victory over Gloucester and will undergo surgery today.
Athletes must set 48-year best October 26, 2009 ATHLETICS: UK athletes have been set a tough medal target of 10 for the London 2012 Olympics. Not since 1964 in Tokyo has Britain won 10 or more athletics medals in a boycott-free Games, but Niels de Vos, chief executive of UK Athletics, believes the target is “optimistic”. He said:?“Can we get to 10 medals? [...]
Backe set for Magpies job October 26, 2009 FOOTBALL: Sven-Goran Eriksson’s former assistant Hans Backe says he is close to taking over as manager of Notts County. Backe, who assisted Eriksson at both Manchester City and Mexico, is in talks with his fellow Swede over working under him at Meadow Lane. “I fly to Monday afternoon and will meet with Notts County,” he [...]
