Why unpaid internships are a good thing – they help the young get a foot in the door October 16, 2011 MY COMPANY is currently looking for an intern (don’t all apply at once). The reason is simple. We have a job that needs doing that we cannot get our clients to pay us for and, in the current climate, we cannot afford to pay an experienced person to do it. The work we want doing [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 11, 2011 FINANCIAL TIMES MPS SET TO GRILL TAX OFFICIAL The UK’s top tax official is likely to be questioned by MPs today over leaked documents concerning the settlement of a tax dispute with Goldman Sachs. Dave Hartnett, permanent secretary for tax at Revenue & Customs, shook hands on a settlement last December that apparently waived a [...]
America’s solar scandal is a warning: Bankrupt climate policies boost tax, not jobs October 11, 2011 IN SEPTEMBER 2009, the United States Department of Energy gave a $530m (£339m) loan guarantee to the solar company Solyndra. President Barack Obama said at the plant: “It’s here that companies like Solyndra are leading the way, towards a brighter and more prosperous future.” In September 2011, the company collapsed, the jobs which the Vice [...]
FPC: Eurozone crisis could freeze credit September 28, 2011 THE ECONOMIC threat from the Eurozone crisis yesterday prompted the Bank of England’s new regulatory body to urge banks to boost lending. While praising the banks’ recent record in building up buffers of capital, the Financial Policy Committee (FPC) said that bonuses and dividends should be cut in order to release sufficient credit to businesses. [...]
The European Commission’s plans for a Tobin Tax would threaten the UK’s recovery September 28, 2011 THE call from President Jose Manuel Barroso and the European Commission to set up a European Financial Transaction Tax (FTT) is misguided, not only because it is unlikely to work, but because if it does, it would have a chilling effect on growth and would damage the UK’s competitiveness. It is clear that Europe needs [...]
Brussels wages war on big four September 26, 2011 RADICAL plans to force the UK’s biggest auditing firms to hive off their huge consultancy arms or ban them from cross-selling services to their clients have been tabled by European authorities, it emerged yesterday. The European Commission has set out new draft regulations to drastically curb the UK’s Big Four accountants Ernst & Young, PwC, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 26, 2011 FINANCIAL TIMES BP PROPOSES FOURTH PIPELINE ROUTE TO BRING AZERBAIJAN GAS TO EUROPE BP is planning a pipeline stretching 1,300 km across three countries to bring gas from Azerbaijan to Europe. The scheme is a new entrant in the highly charged competition to construct a supply route to the Caspian basin and reduce Europe’s dependence [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 21, 2011 FINANCIAL TIMES SEC CHARGES EX-GOLDMAN TRADER A former Goldman Sachs trader and his father have been charged by securities regulators with insider trading for allegedly profiting after learning confidential information about the bank’s trading strategy around an exchange traded fund. The SEC, in a civil action, alleged the former Goldman trader, Spencer Mindlin, tipped off [...]
Nasdaq slams NYSE merger September 8, 2011 NASDAQ OMX Group has intensified its campaign against the merger of its rivals NYSE Euronext and Deutsche Boerse in a fiery submission to the EU. The merger is currently under consideration by European authorities, who could scupper the deal. In a letter to the European Commission, Nasdaq has claimed that allowing it to proceed could kill [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 7, 2011 FINANCIAL TIMES LIBOR ENQUIRY EYES CRIMINAL ANGLE The US investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison. According to people familiar with the probe into the setting of London and Tokyo interbank offered rates, US [...]