MANCHESTER UNITED SET TO SIGN KAGAWA June 5, 2012 The battle to sign Japan midfielder Shinji Kagawa was won by Manchester United yesterday, after a fee was agreed with German champions Borussia Dortmund. The highly-coveted international, who had been expected to sign for one of Europe’s biggest clubs, netted 13 times in the Bundesliga last season.
US jobs market falters June 1, 2012 Job growth braked sharply in May and the unemployment rate rose for the first time since June, putting pressure on the Federal Reserve to ease monetary policy further to shore up the sputtering recovery. The Labor Department report on Friday, which showed employers added a paltry 69,000 jobs to their payrolls last month, the fewest [...]
UK manufacturing activity slumps June 1, 2012 British manufacturing activity shrank at its fastest pace in three years in May as a broad-based global economic slowdown hit demand for British goods, The latest Markit/CIPS Manufacturing Purchasing Managers’ Index suggests the sector continued to drag on the economy which is mired in its second recession in two years, and may add to expectations [...]
China slowdown gets worse June 1, 2012 China’s slowdown worsened in May as its factories saw a further deterioration in demand at home and abroad, dealing a new blow to a global economy struggling with a sharp downturn in Europe and a faltering recovery in the United States. The darkening outlook was underlined by data showing the fourth monthly decline this year [...]
BP eyes sale of TNK-BP stake June 1, 2012 BP said it was considering a sale of its half-share of Russia’s third-largest oil producer TNK-BP after receiving bid approaches, possibly heralding the end of one of the UK oil major’s most lucrative, audacious and troublesome ventures. The oil company said in a statement on Friday that it had received “unsolicited approaches” and had notified [...]
City cheers U-turn on charity tax May 31, 2012 CITY leaders yesterday welcomed the government’s decision to scrap the proposed charity tax, a policy that philanthropists say would have undermined giving at a time when charities are in desperate need of new funds. Announcing the Treasury’s third budget U-turn of the past week, chancellor George Osborne said the debate over capping tax relief from [...]
COVENT GARDEN CELEBRATES May 31, 2012 COVENT Garden’s arcade has been decorated with Union Jack bunting this week to mark London’s celebration of Queen Elizabeth II’s Diamond Jubilee. Other festivities this weekend will include a festival of boats on the Thames and the lighting of more than 2,000 beacons around the country.
JPM’s Dimon to explain $2bn loss May 31, 2012 JP Morgan Chase chief executive Jamie Dimon will testify before the US Senate Banking Committee on 13 June to discuss the bank’s recent trading losses, the committee said yesterday. Earlier this month, JP Morgan said it had suffered at least $2bn in losses from a set of trades that were meant to hedge risk. Regulators [...]
Davis to get £30m but no raise for Xstrata investors May 31, 2012 XSTRATA’S top staff will share a £173m reward for sticking with the firm during its mega-merger with Glencore, documents revealed yesterday. As Xstrata shareholders learned that Glencore has refused to budge on its offer of 2.8 new shares for each Xstrata share, the circular showed that a group of around 70 managers and senior employees [...]
George Osborne’s latest tax U-turn is a great Jubilee present May 31, 2012 FOR charities and their donors, including many in the City, George Osborne’s latest and most spectacular u-turn comes as a perfect Jubilee weekend present. The Chancellor had announced in the Budget a limit of £50,000 or 25 per cent of income, whichever was higher, on the amount individuals could donate in a tax-deductible fashion; the [...]
