WINDS OF CHANGE August 4, 2009 WIND turbine maker Vestas yesterday won a re-possession order to remove workers staging a sit-in at the company’s British turbine blades factory on the Isle of Wight. Eleven workers have occupied the building for two weeks in protest at the proposed closure of the plant, with the possible loss of 625 jobs. The Danish company [...]
Pressure to raise QE after mixed data August 4, 2009 ANNUAL growth in broad money supply slowed to its weakest since 1999 in the second quarter, according to data released yesterday by the Bank of England, just two days before its monetary policy decision. The figures showed that broad money supply growth excluding intermediate other financial corporations such as pension funds, fell to 3.1 per [...]
China’s GDP figures spark concerns about accuracy August 4, 2009 CHINA’S first-half gross domestic product (GDP) figures have raised eyebrows, after combined data from the country’s provinces showed growth well ahead of government estimates. According to combined information from regional authorities, GDP totalled 15,376bn yuan (£1,334bn) in the first half, 10 per cent higher than the figure predicted by the country’s National Bureau of Statistics. [...]
Wenger refuses to budge on Chamakh August 4, 2009 ARSENAL manager Arsene Wenger has declared his interest in Marouane Chamakh to be over, insisting he will not be held to ransom by Bordeaux over the Morocco striker. The French champions have rejected a bid of £6m from the Gunners, with president Jean-Louis Triaud demanding closer to £15m despite the 25-year-old entering the final year [...]
EU hedgie laws to hit pensions August 4, 2009 EU PLANS to clamp down on the hedge fund industry could cost European pension funds €25bn (£21.2bn) a year, the industry trade body said yesterday. The Alternative Investment Management Association (Aima) said plans to limit hedge funds’ leverage and to force managers to sign up to a costly disclosure regime will do “enormous” damage to [...]
Top Up TV signs deal with ESPN to broadcast Premier League football August 4, 2009 TOP UP TV, the media group that offers premium content to Freeview, yesterday signed a carriage deal with ESPN to show top football this season and signalled that it hoped to offer subscribers Sky Sports 1 & 2 by the end of the first half of next year. Top Up founder and former BSkyB stalwart [...]
Carmakers report mixed global sales August 4, 2009 THERE was mixed news from the automotive sector yesterday, as carmakers BMW and Toyota reported massive losses for the previous quarter, but Toyota’s Lexus brand and Daimler’s Mercedes-Benz published their highest US sales so far this year. Germany’s BMW said it remained pessimistic about recent signs of a lasting economic recovery, and reported a slump [...]
Phones 4U joint card venture August 4, 2009 Phones 4U and Mastercard today announce the joint launch of two new pre-paid cards. The cards mean money can be transferred across the world in 60 seconds and are usable in 28m retailers and 1.5m ATMs worldwide.
Britons go on holiday in Blighty August 4, 2009 Britons are increasingly opting for so-called “staycations” – taking a holiday in the UK rather than heading overseas. Trips taken by UK residents in England were up by 13 per cent in the first four months of 2008, according to figures released yesterday by Visit England. That amounts to 1.2m more holiday trips and over [...]
Advertising insolvencies double August 4, 2009 Almost 300 companies in advertising and broadcasting went out of business in the 12 months to June 2009, according to research by accountancy firm PricewaterhouseCoopers. The figure includes 211 firms in the advertising sector, a 50 per cent increase year-on-year, as more firms went into insolvency than in other media sub-sectors. The broadcasting sector lost [...]
