US data reveals recession hit the richest the hardest July 10, 2012 THE TOP one per cent of earners in the US saw their pre-tax incomes suffer the most from 2007 to 2009, according to data released yesterday by the Congressional Budget Office (CBO). Income before tax plummeted by 36 per cent for the highest one per cent of households by earnings, the CBO said. For the [...]
Exports soar despite drop in trade with the rest of EU July 10, 2012 THE UK’S trade deficit narrowed in May, with exports soaring, according to the data released yesterday by the Office for National Statistics (ONS). The deficit in goods was down to £8.4bn, from £9.7bn in April, and the surplus in services remained unchanged at £5.6bn, so that the current account showed a deficit of £2.7bn, compared [...]
CEBR forecasts slow growth for rest of year July 10, 2012 THE GLOBAL economy will expand only very slowly in the second half of the year, the Centre for Economics and Business Research (CEBR) predicted today. The CEBR expects growth of about one per cent over the second six months of the year, with inflation in danger of turning negative. Douglas McWilliams at the CEBR said: [...]
Monthly upturn for UK industry July 10, 2012 UK INDUSTRIAL production upticked in May yet remains on a downwards slope, according to data released yesterday by the Office for National Statistics (ONS) yesterday. Production was 1.6 per cent lower in May than in the same month one year earlier, and 2.1 per cent lower in the three months to May than in the [...]
Angel Clarke bows out of BBAA July 10, 2012 IT was an emotional night for the angel who lost his wings after eight years of service at the helm of the British Business Angels Association. Anthony Clarke, who earlier this month ended his eight-year chairmanship of the business, was one of almost 200 people gathered at The UK Business Angels Association Gala Awards Dinner [...]
Get set for the 5k StanChart City challenge July 10, 2012 WORKERS across the City are just hours away from competing against each other in the Standard Chartered Great City Race. The 2012 race on Thursday has attracted the greatest ever amount of runners with the maximum 6,500 places from over 350 companies selling out in record time. The 5K race starts at 19.15 at The [...]
Norway settles oil dispute as politicians act July 10, 2012 NORWAY’S government ordered a last-minute settlement in a dispute between striking oil workers and employers yesterday, as a total shutdown of the industry loomed. The strike over pensions had brought the industry to the brink as employers prepared to cease their operations. Oil markets had been hit with the price of crude rising over supply [...]
London Capital shares plummet as investors bet on profit slump July 10, 2012 LONDON Capital Group (LCG)’s shares slumped to their lowest point this year yesterday as the online spread-betting firm announced it expects a drop in profits. Predictions for the six months to July saw pre-tax profits fall to £2m, compared with £3m for the same period last year, with LCG blaming the disappointing figures on “low [...]
Bwin.party hit by predictable Euro 2012 results as tax rises July 10, 2012 BWIN.PARTY Digital Entertainment, the world’s largest listed online gaming group, said yesterday that a run of predictable results in the Euro 2012 football championship marred a solid performance in its casino and bingo operations in the second quarter. The company said that its trading performance since the beginning of April was broadly in line with [...]
Hawker confirms $1.8bn sale talks with Chinese aero firm July 10, 2012 BANKRUPT aircraft maker Hawker Beechcraft confirmed yesterday it was in exclusive talks with a Chinese aerospace firm over a sale of the company for $1.79bn (£1.15bn), an offer that may flush out higher bids from other parties. Chinese companies have announced a flurry of international takeovers this year, part of a decade-old “going out” policy [...]
