Troubled Britain should not mock the Eurozone’s nightmare September 26, 2012 EUROPEAN markets follow a well-trodden path. A bailout plan is announced, sending investors into a frenzy of happiness; nothing much happens; data is published showing one or more countries in even greater crisis than before; everybody panics; equity markets plunge and bond yields jump; another bailout pledge is made. And so on. We are now [...]
What the other papers say this morning September 26, 2012 FINANCIAL TIMES L’Oréal chief hits out at income tax France will find it “almost impossible” to hire top talent if the government goes ahead with plans to impose a 75 per cent marginal income tax rate, the head of L’Oréal, one of the country’s biggest companies by market value, has said. Jean-Paul Agon, chairman and [...]
G4S bosses to decide if heads will roll today September 26, 2012 G4S’S board will meet today to discuss the conclusions of a comprehensive review into the Olympic security scandal, with the future of chief operating officer David Taylor-Smith, as well as others, in the balance. His sacrifice would be seen as a move to protect the security firm’s chief executive Nick Buckles, who has come under [...]
Clegg will block lower tax rates for high earners September 26, 2012 NICK Clegg said yesterday that “there can be no question” of reducing the top rate of income tax below 45p. The Deputy Prime Minister told the Lib Dem party conference that he had only “conceded” reducing the burden on higher rate taxpayers from 50p in return for an increase to the tax-free personal allowance for [...]
Clinton Cards US owner could go private after bid September 26, 2012 THE AMERICAN greetings card giant that saved Clinton Cards when the company plunged into administration this year has received a bid from a consortium led by its chief executive to take it private. American Greetings, which makes and supplies cards for retailers, said yesterday that brothers Zev and Jeffrey Weiss, the firm’s chief executive and [...]
Brussels accused of ignoring its regulator on hedging rules September 26, 2012 BRITAIN and Germany have hit out at the European Commission (EC) for ignoring expert advice on new short-selling and hedging rules and failing to give any reasons why, papers published yesterday revealed. Four other countries joined them in objecting to the EC brushing aside recommendations from the European Securities and Markets Authority (ESMA), the EU’s [...]
Direct Line float below target September 26, 2012 RBS is expected to sell shares in Direct Line at just below their book value, according to banking sources. This would value the home and motor insurer at just below £2.7bn, lower than the £3bn originally targeted, but better than the banks advising RBS had feared. “There are still a couple of issues to be [...]
EADS boss warns states on control September 26, 2012 EADS chief executive Tom Enders yesterday warned that governments should try not to wield power over a tie-up of BAE and EADS, as he addressed German MPs to hammer out concerns over the mega-merger. Enders said that a merger the size of the proposed tie-up should not necessarily be subject to state involvement, as the [...]
Santander Mexico shares leap on first day September 26, 2012 BANCO Santander’s Mexican unit’s newly listed shares rose sharply yesterday after its Spanish parent raised $4bn (£2.5bn) in the second-largest listing in the US this year behind Facebook. Santander Mexico’s chief exec, Marcos Martinez (pictured), said the IPO was nearly five times oversubscribed. The float, the biggest ever by a Mexico-listed company, valued Santander Mexico at [...]
Lloyd’s chief says premiums must increase September 26, 2012 LLOYD’S of London chief executive Richard Ward yesterday said that insurance premiums must rise, on the same day that the market announced profits of £1.53bn for the first six months of 2012. “Rates do need to go up broadly across the insurance sector,” he told City A.M.. “Outside catastrophe-exposed classes premiums have been moving sideways.” [...]
