Snap the cab and win a skate, or sweep, at Broadgate ice rink December 19, 2012 COMMUTERS hailing cabs around Liverpool Street station should keep an eye out for Broadgate’s ice taxi that has been cruising around the City. Budding skaters who snap a photograph of the cab driving through town can tweet their picture using #BroadgateIce to be in with the chance of winning a two-for-one skate voucher at the [...]
Inflation to stay above target in 2013, Bank says December 19, 2012 EIGHT of the Bank of England’s nine rate-setters voted against more quantitative easing at this month’s meeting, with the panel warning that inflation is likely to stay above target for another year. Yet the minutes of the Monetary Policy Committee, published yesterday, also warned that the economy could have contracted in the final three months [...]
World Bank increases its growth forecast for China and East Asia December 19, 2012 THE WORLD Bank has raised its 2013 economic growth forecasts for China and developing East Asia, saying yesterday the region remains resilient despite the lacklustre performance of the global economy. “For 2013, we expect the region to benefit from continued strong domestic demand and a mild global recovery that would nudge the contribution of net [...]
Lending plan mainly boosts house market December 19, 2012 THE GOVERNMENT’S flagship lending scheme is boosting the mortgage market more than it is improving the supply of credit to small businesses, a Bank of England report said yesterday. The Funding for Lending Scheme (FLS) was introduced by the Bank and the government this year, with the intention of loosening credit and aiding economic growth. [...]
Colt swinging axe on 250 staff in bid to turn company around December 19, 2012 IT group Colt is set to cut 250 jobs as it attempts to transform its struggling telecoms business and focus on becoming a successful data centre operator. The company, which saw revenues dip in the third quarter of the year, said losing five per cent of its workforce would “accelerate the transformation of its business”. [...]
Halma to pay an eye-watering $100m for opthalmology firm December 19, 2012 BRITISH safety and environment technology group Halma has acquired US-based MicroSurgical Technology (MST) in a deal that could cost up to $100m (£61m), the company announced yesterday. Halma, which makes products such as smoke detectors and door sensors, said MST would continue to be run separately from its own health division. MST makes and markets [...]
Insurers win as disaster claims halve in 2012 December 19, 2012 THE INSURANCE industry celebrated yesterday after Swiss Re said the total bill for natural catastrophe payouts in 2012 will be around $65bn (£40bn), down from last year’s near-record $120bn. Most of the total can be ascribed to the roughly $25bn cost of superstorm Sandy, which swept across the Caribbean and United States in late October. [...]
We don’t want gender quotas say high-powered City women December 19, 2012 AN OVERWHELMING majority of City women oppose quotas to encourage greater female representation on company boards, with most saying they are not the answer. A survey from recruitment agency Randstad found that 94 per cent of professional women interviewed oppose EU plans to introduce gender quotas. The research claimed that three in four of the [...]
Saudi plane price dispute could knock earnings at BAE Systems December 19, 2012 BAE Systems yesterday warned that its 2012 earnings could take a hit if it does not reach an agreement with Saudi Arabia on the pricing of a key contract in the next two months, potentially hampering growth. The arms maker, Europe’s largest defence contractor, is hunting for growth as a standalone company after failing to [...]
Infrastructure firms snap up £2.8bn of National Grid deals December 19, 2012 INFRASTRUCTURE and construction groups Balfour Beatty, Morrison Utility Services and Skanska yesterday netted themselves a £2.8bn payout from National Grid, after winning eight-year contracts with the gas and electricity firm. Balfour Beatty has won two contracts worth £1.2bn, for eight years each, to upgrade the gas distribution network in the North West and the West [...]
