THE BREAKDOWN | WORLD CUP BRIEFS September 8, 2011 LANDMARK FOR PAterson Mike Blair will start at scrum-half for Scotland in their World Cup opener against Romania tomorrow. Blair will partner fly-half Ruaridh Jackson, while Joe Ansbro and Sean Lamont make up the centre pairing. Full-back Chris Paterson becomes the first Scot to play at four World Cups, while hooker Ross Ford will win his 50th [...]
Obama urges new stimulus September 8, 2011 AMERICA looks set for yet another double-pronged dose of government stimulus, after President Barack Obama launched his “American Jobs Act” late last night, and Fed chief Ben Bernanke hinted at more monetary easing. Obama urged Congress to vote through his $447bn (£280bn) programme of tax cuts and government spending hikes, repeating the words “pass this [...]
Glimmer of hope after year of decline in new car sales as vans carry market September 6, 2011 VEHICLE registrations increased in August for the first time in 14 months, the Society of Motor Manufacturers and Trades has revealed. Over 59,000 new cars were sold last month, representing a 7.3 per cent increase on sales in August 2010. From January to July of this year sales were down 6.1 per cent on the [...]
Pension fund assets rising September 5, 2011 The total assets of the world’s largest 300 pension funds grew by 11 per cent last year to a record high of $12.5 trillion (£7.77 trillion) according to new research. The study from Pensions & Investments and Towers Watson showed that despite last year’s growth in total assets, annualised growth of all funds during the [...]
Insurers hit out at no win no fee claims September 5, 2011 AMBULANCE-CHASING lawyers came under fire from major UK retailers and insurers demanding reform of the booming market for personal injury claims yesterday. Businesses led by the Association of British Insurers are fighting back against a surge in “no win no fee” legal actions behind a 72 per cent jump in the number of bodily injury [...]
Retailers and insurers campaign for no-win-no-fee reform September 5, 2011 Insurance companies are to join with some of the UK’s biggest retail brands in a new campaign to crack down on no-win-no-fee legal claims. The Association of British Insurers is working with carmaker Ford, supermarket chain Asda and pub group Whitbread to call for reform of the UK’s injury compensation system that has led to [...]
Volvo in Siemens partnership August 31, 2011 German industrial group Siemens and Swedish carmaker Volvo have formed a partnership to develop technology for electric cars and ancillary equipment. The two companies said yesterday that an electric version of Volvo’s small C30 hatchback will serve as a test platform and will be on test tracks by the end of the year. Volvo will [...]
The trials of Jobs August 25, 2011 Steve Jobs’ shock resignation was followed by the inevitable panic. Jumpy investors piled out of Apple stock, knocking $25bn from its market cap, most of which was soon recouped. But it will be months and years, not days and weeks, until the effects of his loss become clear. A man of his talent and vision [...]
STEVE JOBS QUITS AS APPLE’S CHIEF August 24, 2011 STEVE JOBS last night resigned as chief executive of Apple, telling the board he is no longer able to meet his duties. His shock departure heralds the end of an era for one of the world’s biggest firms and most colourful chief executives. The decision follows a seven month medical leave of absence, during which [...]
CITY MOVES | WHO’S SWITCHING JOBS August 24, 2011 Neuberger Berman The independent asset management firm has appointed Joseph Mukungu to the newly created role of senior vice president, head of client services for Europe and Middle East. Mukungu will manage the team based in Europe responsible for advising Neuberger Berman’s expanding client base outside the US. Mukungu joins from JO Hambro Capital Management, [...]