Unemployment rises to 2.5m May 12, 2010 UNEMPLOYMENT rose by 53,000 to 2.51m in the three months to March – the highest total since 1994, according to official figures. However, the total number of people claiming unemployment benefit fell in April by 27,100 to 1.52m. The rate of unemployment remained at eight per cent, the Office for National Statistics said. Howard Archer [...]
FirstGroup profit slides May 12, 2010 TRANSPORT company FirstGroup saw its profits slide despite a £200m cost-cutting programme. Pre-tax profit slumped to £179.6m from £200m, in the year ending 31 March. UK bus revenue was up 1.9 per cent – while trains saw a 2.3 per cent rise. Total revenue for the group was Revenue £6.3m compared with £6.1m the year [...]
Barratt profit on target as house sales rise May 12, 2010 HOUSEBUILDER Barratt Developments said it will deliver a profit in the second half as it reported improved sales rates since February. The UK’s third largest housebuilder by market value, said its average selling price is expected to rise by 15 per cent by June 30, thanks to a shift in the type of houses being [...]
ING beats forecasts as bad debts subside May 12, 2010 DUTCH banking group ING beat all forecasts with first-quarter profit that benefited from rising financial markets and falling bad debt costs. The company said its exposure to Greece rose in the first quarter while its Portuguese portfolio fell. It added that it was comfortable with its position in sovereign debt. Executives said the fluctuations were [...]
Meet the new PM May 11, 2010 DAVID CAMERON seized the reins of power last night, becoming the first Tory Prime Minister to cross the threshold of Number 10 in thirteen years. Flanked by wife Samantha outside Downing Street, Cameron addressed the country and announced he was inviting the Liberal Democrats into a “full and proper” coalition government. There were none of [...]
Cameron warns UK of tough times ahead May 11, 2010 ADDRESSING the country from the steps of Downing Street last night, David Cameron sounded every inch a one nation Conservative. There was none of the promise and hope that characterised Tony Blair’s first utterances as Prime Minister. Instead he offered Britain two things: a warning and a promise. “This is going to be hard and [...]
Prime Minister, your task will be truly immense May 11, 2010 WHEN Margaret Thatcher became Prime Minister in 1979, she quoted St Francis of Assisi on the steps of 10 Downing Street; after Tony Blair triumphed in 1997, he was greeted by Labour Party workers waving union jacks and a great wave of public optimism. David Cameron’s victory speech yesterday was far more somber and humble, [...]
WHO’S NEW IN THE COALITION GOVERNMENT? May 11, 2010 VINCE CABLE Former Lib Dem Treasury spokesman Vince Cable will be gifted his dream job at the Treasury, working as number two to chancellor George Osborne. The popular big-beast of Nick Clegg’s party has long been recognised as vital to the Lib Dem machine. He has been outspoken on bankers and sceptical about spending cuts. [...]
Osborne and Hague secure top jobs in new government May 11, 2010 GEORGE Osborne was last night confirmed as chancellor of the exchequer and William Hague as foreign secretary in the new Conservative/Liberal Democrat coalition government – securing top jobs for the men who brokered the eventual deal. The decision leaves the two men in the positions they held in recent years in opposition, and scotched widespread [...]
Deputy PM Nick Clegg promises a new type of politics May 11, 2010 NEW deputy Prime Minister Nick Clegg last night implored his core supporters not to lose faith in his party after it made a pact to take David Cameron into Downing Street. He said his party had “overwhelmingly” accepted his recommendation to form a coalition with the Tories. The parties have, he claimed, come together “for [...]
