Mayor calls on business expertise December 8, 2008 London mayor Boris Johnson has recruited the help of 47 top-flight business leaders to offer him guidance and advice, it was announced yesterday. The International Business Advisory Council for London has been set up and will be chaired by Sir Martin Sorrell, chief executive of advertising group WPP. The council will advise the mayor on [...]
Labour must adapt, admits weary Brown September 10, 2008 Gordon Brown yesterday admitted that the Labour party would have to rethink the way it governs if it is to win at the next general election. In an unusually candid interview, the Prime Minister conceded that the government needed to do more to convince voters that it deserves an historic fourth term. He made the [...]
MoD offloads Qinetiq September 10, 2008 QinetiQ shares took a nosedive yesterday after the Ministry of Defence announced it would sell the 18.9 per cent stake it retained after the defence technology company was floated two years ago. The government said that its 124.9m shares would be sold via an “accelerated bookbuild offering to be launched immediately”. However, it will retain [...]
Tullow finds crude again September 10, 2008 Tullow Oil, the Africa-focused explorer, said yesterday it had made another crude discovery at its Kigogole-1 well in the Butiaba region of Uganda. Tullow, which holds more exploration licences than any other British firm in Africa, said that the well was drilled to a total depth of 616 metres and found two oil zones. The [...]
Thomas Cook loses EC case September 10, 2008 Travel company Thomas Cook yesterday lost its epic battle for compensation from the European Commission for preventing Airtours, now called MyTravel, from merging with First Choice Holidays in 1999. The European Court of First Instance said that Thomas Cook, which now owns MyTravel, was not due any compensation. This was despite its own landmark ruling [...]
Six killed as floods sweep across the UK September 8, 2008 Six were killed over the weekend as floods and storms battered the country amid warnings that Hurricane Hannah was on her way. Despite the rain slightly easing across the country yesterday, the adverse weather conditions have been responsible for considerable devastation. In North Wales, a teenager from London was killed as a 4×4 rolled over [...]
Brown needs to improve or quit, says former Home Secretary Clarke September 5, 2008 Prime Minister Gordon Brown should stand down as party leader if he cannot improve his government’s performance in the coming months, former Home Secretary Charles Clarke said yesterday. Clarke said Labour was heading for “disaster” at the next election if it did not change course. In a rare outbreak of dissent within the party, Clarke [...]
Met chief denies he is to be sacked September 5, 2008 Sir Ian Blair denied rumours he will be axed as Metropolitan Police chief in a statement given yesterday outside Scotland Yard’s headquarters. Newspaper reports said ministers and other police chiefs were secretly planning to remove Blair, who has been dogged by controversy since taking over as chief in February 2005. The first action would be [...]
Palin silences critics with first speech September 4, 2008 Republican running mate Sarah Palin fought back at her critics in her first key address to the Republican National Convention last night. Her speech came as Republican US presidential candidate John McCain slammed the media for questioning the way his running mate Sarah Palin’s candidacy was vetted, following shock revelations that Palin’s 17-yearold unmarried daughter [...]
Blue Oar looks to the future September 4, 2008 Blue Oar, the UK investment bank and stockbroker, told its 160 staff yesterday not to expect their end-of-year bonuses this year unless there was a “dramatic improvement” in the markets but remained buoyant about the future. The company, whose bonuses are tied to profits, reported a pre-tax loss of £1.1m for the first half of [...]