City vacancies tumble again December 4, 2011 CITY vacancies shrank by 16 per cent in November, with candidates facing the toughest competition for years. There are now five qualified candidates for every available post, according to figures published by financial services recruitment firm Astbury Marsden today. The firm said the ratio of candidates to vacancies is at its highest since December 2008, [...]
Central bank independence won’t last December 4, 2011 SLOWLY but surely, the case for central bank independence is being undone. It may not look like it, with central bankers being afforded even greater powers than before the recession, but we are probably at the high watermark of their influence and autonomy. At some stage, as it becomes clear that monetary policy has turned [...]
Clegg targets CEO pay December 4, 2011 NICK Clegg, the deputy Prime Minister, yesterday said the government was prepared to introduce new legislation that could force listed firms to change the way they determine pay awards for top executives. Clegg said the government would publish a set of proposals in January, adding it was willing to introduce new laws that could force [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 4, 2011 FINANCIAL TIMES SURGE IN UK CORPORATE BONDS Sterling corporate bond issuance is soaring, but euro-denominated bond sales are at a six-year low – as more companies turn to the relative stability of the London market amid Europe’s financial turmoil. UK and international companies have sold more than $42bn worth of sterling-denominated bonds so far this [...]
US denies Iran shot down drone December 4, 2011 Iranian media reported yesterday that their country’s military had shot down a US reconnaissance drone in eastern Iran, but a US official said there was no indication the aircraft had been shot down. NATO’s US-led mission in Afghanistan said the Iranian report could refer to an unarmed US spy drone that went missing last week. [...]
Bondholder losses may be eased December 4, 2011 Germany is prepared to soften language in the Eurozone’s permanent bailout mechanism compelling bondholders to accept losses in exchange for much stricter budget rules, sources have said. The shift would not completely remove the possibility of private bondholders having to accept losses in the future, but it would align the statutes of the European Stability [...]
Monti’s marvellous medicine December 4, 2011 TOUGH tax hikes and spending cuts were announced last night as Italy’s technocratic Prime Minister unveiled his plan to get the country’s colossal debts back under control. The €20bn (£17.2bn) fiscal package was presented after a cabinet meeting. The retirement age is set to rise, income tax on the rich will be hiked and a [...]
More austerity in Ireland December 4, 2011 IRISH Prime Minister Enda Kenny set out a raft of tough new austerity measures in his Budget address yesterday, pledging to cut spending and raise taxes to bring down the nation’s huge debt. Setting out the “challenge” of restoring Ireland’s economy, Kenny said the government was still spending €16bn (£13.7bn) per year more than it [...]
Belgian PM elected after record wait December 4, 2011 AFTER a record 588 day wait, Belgium at last has a new Prime Minister – Socialist leader Elio Di Rupo. The Francophone leader heads a six-party coalition and faces major economic and social challenges. Europe’s sovereign debt crisis appears to have spread to the formerly-safe core nation, as 10-year bond yields hit record highs of [...]
FSA chief agrees to meet Occupy activists December 4, 2011 PROTESTERS from Occupy London have won a meeting with Hector Sants, the chief executive of the Financial Services Authority. Members of the group are due to meet Sants at St Ethelburga’s Tent, at the Centre for Reconciliation and Peace, on Bishopsgate on Wednesday. It is part of London Connection, a series of events on finance [...]
