Romney and Obama battle over tax and restrictions on abortion November 4, 2012 THE UNITED States tomorrow faces a decision between two Ivy League-educated men who will have to deal with a massive deficit, troubled overseas military operations and renewed concerns over America’s place in the world. The two candidates offer radically different tax policy – President Barack Obama supports letting income tax cuts on the highest earners [...]
Tchenguiz SFO claims may rise after blunders November 4, 2012 THE SERIOUS Fraud Office (SFO) could face costs of hundreds of millions of pounds if lawsuits from Robert and Vincent Tchenguiz are successful, following the SFO’s botched investigation into the brothers stemming from the collapse of Icelandic bank Kaupthing in 2008. Vincent Tchenguiz had previously indicated he would look to sue the SFO for £100m. [...]
New York crawls back to life but mayor warns of housing crisis November 4, 2012 NEW York continued its slow return to normality over the weekend in the wake of Hurricane Sandy as power returned to the majority of buildings and transport networks operated at nearly full capacity again. However, more than a million homes continued to suffer from power outages last night, and mayor Michael Bloomberg cancelled the iconic [...]
Supermarkets to sell Skype credit November 4, 2012 While retailers are rushing to expand their online presence, Skype, the internet phone service, announced today it is making a move onto the UK high street in a tie-up with five supermarkets to sell credit in stores. The US firm, which has 254m connected users per month, said it is to sell £10 or £20 [...]
Vodafone delays Canada-India deal November 4, 2012 A high-profile tax dispute between the Indian government and Vodafone Group has made it unlikely that India will sign a foreign investment protection treaty with Canada during a visit this week by Prime Minister Stephen Harper, Canada’s top diplomat in India said yesterday. Canadian High Commissioner Stewart Beck also signalled an important disagreement with India [...]
Lloyds mulls selling stake in St James’ Place November 4, 2012 BAILED out bank Lloyds is believed to be considering a sale of its stake in wealth management company St James’ Place, it emerged over the weekend. The 60 per cent stake in the wealth management unit was acquired as part of the bank’s ill-fated takeover of failed institution HBOS in 2008. It is thought the [...]
New accounting rules to force banks to book anticipated losses on loans November 4, 2012 BANKS will soon have to hold more capital in anticipation of losses on bad loans under new accounting rules to be published in the New Year, after sustained pressure from the G20 leaders. The International Accounting Standards Board (IASB) is expected to publish its new guidelines in the first quarter of 2013. Currently banks use [...]
Post-Olympics hangover for London as occupancy rate falls November 4, 2012 A STUDY out today predicts that Britain’s hotels industry will next year suffer its lowest occupancy levels since 2005. Accountancy giant PwC said Revenue Per Available Room (RevPar) is set to rise four per cent to a record £114.71 this year, driven by one-off events such as the Jubilee and the Olympics. In 2013, however, [...]
UK Coal teeters on brink ahead of crunch vote November 4, 2012 UK COAL, the biggest coal miner left in the UK, will today face a crunch shareholder vote on plans to restructure the firm amid management warnings failure to approve the plan will force the company out of business by early next year. The firm’s shareholder base will meet in Doncaster, South Yorkshire at 11am to [...]
Private equity firm puts online travel agency up for £100m sale November 4, 2012 ON THE Beach, the online travel business that specialises in holidays by the sea, has been put up for sale by its owners for £100m. Private equity group Isis is close to hiring DC Advisory, the corporate finance advisory firm, to search for a new investor, The Sunday Times reported. Analysts have said the website [...]
