OSBORNE URGED TO CUT TAXES ON BUSINESS
George Osborne has come under renewed pressure from the Conservative right to cut business taxes and simplify labour laws in next month’s Budget. Liam Fox, the former defence secretary, called for urgent action to deal with the “true horror” of the government’s economic inheritance.
PANDORA PLUNGES ON PRODUCT SWAP
XShares in Pandora suffered their steepest fall in six months after the danish jeweller said it would allow retailers to swap its unsold jewellery for better-selling items. The unexpected move, which came as the company reported a 39 per cent drop in fourth-quarter operating profits, will cost Pandora up to DKr800m (£90.2m).
MINISTERS HARDEN STANCE ON GROUPS OPPOSING NHS BILL
Ministers have stepped up their attacks on health groups opposing the reform of the National Health Service as debate surrounding the bill becomes increasingly bitter.
QINETIQ DERECOGNITION PLAN SPARKS TRADE UNION ANGER
Qinetiq, the privatised defence technology contractor, provoked fury among trade unions yesterday by announcing plans to derecognise them for collective bargaining purposes. The company said it would end bargaining with Prospect, the GMB, PCS and Unite from the end of March.
EX-BANKER HAS TO SELL £8M HOME TO END DISPUTE WITH INVESTORS
A former Goldman Sachs banker has agreed to give up his £8m country home after a long-running dispute with a group of investors. Christopher Wightman will vacate Evenley Hall in Northamptonshire, and allow it to be sold. About £2.2m of the proceeds are expected go to shareholders in a company that Mr Wightman ran called Clickstream Technologies.
THE JOY OF TEXT BEGINS TO WANE
Texts have been the bedrock of the mobile phone sector since the first message was sent almost 20 years ago. But the inexorable rise of instant messaging is eroding the SMS.
The Daily Telegraph
BP SETTLES WITH INJURED RIG COOK AS TRIAL LOOMS
BP has agreed a settlement with a worker injured in the Gulf of Mexico disaster, in a move further raising hopes the oil giant could yet settle other claims and avert the trial due to begin on Monday to determine damages and fines related to spill.
FRANCE AND GERMANY LOOK TO HARMONISE CORPORATE TAX RATES
Germany and France moved even closer to full fiscal union by announcing they will be “harmonising” their corporate tax rates by 2013 – a move that will increase the prospect of an EU-wide enforced tax rate that Ireland and the UK have been opposed to.
THE WALL STREET JOURNAL
AMR SEES $1BN IN NEW REVENUE FROM RESTRUCTURING
American Airlines parent AMR said new revenue needed for its turnaround plan requires labour agreements that allow it to use larger planes to sell more premium tickets and to strike agreements with airlines to handle more domestic flying.
DUNKIN AND STARBUCKS TO DUKE IT OUT IN INDIA
Dunkin’ Donuts and Starbucks Corp. are bringing their coffee war to India, attempting to tap Indians’ growing appetite for Western fast food. Jubilant FoodWorks said it expects to open the first Dunkin’ Donuts in India by June.