We must grow ourselves out of debt February 15, 2010 BRITAIN has been spending more than it earns for years now, which is why the government and individuals alike are crumbling under a huge burden of debt. Two kinds of policies are needed to get us out of this hole: we must spend less; and we need to grow faster and more sustainably. Everybody has [...]
January sees new cars surge by a third on scrappage boost February 4, 2010 The government’s scrappage scheme led new car sales to surge by almost a third this January, the Society of Motor Manufacturers and Traders (SMMT) said yesterday. Despite the return of the 17.5 per cent VAT rate, 145,479 new cars were registered over the month, a 29.8 per cent increase on last year. This made January [...]
Job market recovery will gather pace during year February 2, 2010 RECRUITMENT consultancies have signalled further growth in the number of staff appointments in January, as the UK job market continued its return to health. According to the latest Recruitment and Employment Confederation and KPMG report on jobs, published yesterday, the growth of permanent placements eased from December’s peak but remained strong. Temporary or contract staff [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 31, 2010 FINANCIAL TIMES US BANKS FACE INSIDER TRADING PROBE Neil Barofsky, the special inspector-general overseeing the US government’s financial rescue efforts, is to probe allegations of insider trading among bank executives and their associates. Eight of the largest banks in the US received between $2bn and $25bn in October 2008 under a programme to prop up [...]
Acquisitions bearing fruit for Astaire January 31, 2010 SMALL cap broking veteran Edward Vandyk is reaping the rewards of his aggressive drive for consolidation in the sector, after a series of new client wins for Astaire Securities pushed his firm into third position among the advisers to the Aim market. Astaire – which was renamed last year after Vandyk took over Blue Oar [...]
Soaring London fraud rate tops a bumper decade for criminals January 24, 2010 A record £1.3bn of fraud committed in 2009 highlights a surge in the level of the crime during the 2000s when 1,750 cases were registered. It meant fraudsters netted more than £7bn of ill-gotten gains in a decade which saw the ascent of high profile “super-cases” involving billions of dollars and notorious individuals such as [...]
Cadbury deal is first in an M&A boom for 2010 January 20, 2010 KRAFT’S takeover of Cadbury will not change our love of Dairy Milks and Creme Eggs, but it will take time before we start thinking of Cadbury as an American, rather than a British, institution. Before the year is out, though, we might have to get used to other much-loved businesses going the same way. Market-watchers [...]
Pubs and restaurants see sales jump in December despite gloom January 18, 2010 PUB and restaurant groups managed a 2.9 per cent year-on-year increase in sales in December despite poor weather, fewer Christmas parties and price hikes ahead of the VAT increase this month. However, the increase was lower than the 4.7 per cent total like-for-like growth in 2009. Mark Sheehan from Coffer Group, which published the figures, [...]
Weak pound fuels London sales boost January 18, 2010 SHOP sales in the capital soared over Christmas as tourists and Londoners embarked on spending sprees. The British Retail Consortium (BRC) reported that in London sales jumped 12 per cent in December – the best performance since it started publishing the figures in 2002. Visitors from Europe, China and the Middle East hit the shops, [...]
Highest earners punished as London tops world tax league January 14, 2010 CITY workers paid £1m a year will be the worst off high earners in the world when the 50 per cent rate of income tax is introduced from 6 April. A Londoner on £1m will take home £300,000 less than someone on the same salary in Singapore, £130,000 less than a similar earner in Tokyo [...]