WHAT THE OTHER PAPERS SAY THIS MORNING March 30, 2010 FINANCIAL TIMES M&A SURGE IN ASIA WHILE THE US AND EUROPE SUFFER Mergers and acquisitions boomed in Asia in the first quarter in sharp contrast to a slump in deal volume in Europea and the US, underlining a global shift in activity in the wake of the credit crisis. The value of global M&A overall [...]
CITY MOVES | WHO’S SWITCHING JOBS March 30, 2010 Clifford Chance The law firm has elected Michael Bates and Robert Lee as the new joint practice area leaders for its London finance practice, effective for a four-year period starting tomorrow. Bates, pictured, has been a partner since 2001 and specialises in acquisition and leveraged financings in the infrastructure sector. Lee, a partner since 1997, [...]
The Tipster March 30, 2010 AN UPWARD revision to the UK’s fourth quarter GDP figure helped to boost sterling yesterday. The upward revision was due to stronger output in the construction and manufacturing sectors. Sterling received another boost from credit rating agency Standard and Poor’s which maintained its triple ‘A’ rating on the UK, which bodes well for sterling in [...]
Europe and IMF seal Greek deal March 25, 2010 EUROZONE leaders last night finally clinched a deal to secure Greece’s financial future with the IMF drafted in alongside the EU to provide emergency funds if the debt-stricken country needs it. The bailout plan, agreed at yesterday’s EU summit in Brussels after weeks of wrangling, means eurozone members will provide two thirds of the estimated [...]
At a glance: All of Alistair Darling’s 2010 Budget tax and spend policies March 24, 2010 THE ECONOMY/ PUBLIC FINANCES l Confirmed pre-Budget report (PBR) 2010 growth forecast of 1-1.5 per cent. But the chancellor revised downwards the 2011 forecast to 3-3.5 per cent to bring forecasts in line with those of the Bank of England. Growth forecast of 3.5 per cent in 2012 maintained. l Inflation spike expected to be [...]
Why the devil is always in the detail March 24, 2010 YOU must hand it to Alistair Darling: to have to unveil a budget deficit of 11.8 per cent of GDP, roughly the same as Greece’s, would have destroyed a lesser politician. The fact that he was able to portray such an abysmal outcome as a triumph is the final proof that contemporary Britain is now [...]
Darling aims for harmony on bank tax March 24, 2010 CHANCELLOR Alistair Darling yesterday threw his full weight behind a drive for international coordination on the implementation of a global risk tax on banks at an International Monetary Fund meeting next month. “This must be brought forward quickly, as I will urge international finance ministers in Washington next month,” Darling said as he presented his [...]
City workers slam class war Budget March 24, 2010 THE City was left unconvinced by yesterday’s Budget, slamming Darling for failing to provide a clear outline on how the government was planning to reduce its huge deficit. Banks were being sent a contradictory message, critics said, pointing out that Darling has asked nationalised banks such as Lloyds and the Royal Bank of Scotland to [...]
Big earners hit for six by the Budget March 24, 2010 Darling’s Budget offers few smiles for the wealthy. Personal allowances for people with incomes over £100,000 will be gradually eroded over the next three years. Anyone earning more than £150,000 a year will be hit with the new 50p rate of tax. It means the UK is now the second most expensive place for big [...]
Time Line | the shifting landscape of uk taxes March 24, 2010 9 November 2009 50 per cent bank bonus tax on anything over £25,000 introduced as government reacts to anger at financial institutions. 1 January 2010 Rate of VAT goes back up from 15 to 17.5 per cent as planned when the change was brought in at the height of the recession. 1 January 2010 Stamp [...]