City gives lukewarm thumbs up to Osborne’s plan June 22, 2010 CITY stalwarts displayed cautious approval in the wake of the emergency Budget yesterday, as the chancellor’s plans settled some nerves over UK spending. CBI director-general Richard Lambert said the five-year route map for corporation tax “provides much-needed consistency and certainty”, which combined with proposals on foreign profits and intellectual property could reverse the tide on [...]
Budget focus should not be on banker bashing June 20, 2010 Tomorrow George Osborne will deliver one of the most important Budget announcements in recent memory as he outlines plans to deal with the harsh financial realities facing our nation. The chancellor has already taken steps to trim the structural deficit but there is more to do if we are to maintain our reputation for fiscal [...]
Budget focus should not be on banker bashing June 20, 2010 Tomorrow George Osborne will deliver one of the most important Budget announcements in recent memory as he outlines plans to deal with the harsh financial realities facing our nation. The chancellor has already taken steps to trim the structural deficit but there is more to do if we are to maintain our reputation for fiscal [...]
LIKE FATHER, LIKE SON IN THE WORLD OF SPIN June 17, 2010 TO THE Kensington home of City slicker Roland Rudd, the boss of PR firm Finsbury, last night for his annual party, one of the highlights of the summer schmoozing circuit. Grandees of the worlds of business and politics were there in their droves for the event, including WPP boss Sir Martin Sorrell; Royal Bank of [...]
Lord Mayor Nick Anstee: Stop bashing the banks June 16, 2010 BREAKING the financial industry would wound the wider economy, Lord Mayor of the City of London Nick Anstee warned last night, in a defence of the banking sector. Anstee welcomed the coalition government’s approach to cutting Britain’s budget deficit, but urged against a populist crackdown on large lenders. “I hope calls for the City to [...]
Growing calls for Cameron to support BP June 10, 2010 THERE were growing calls for David Cameron to throw his weight behind troubled oil major BP last night, but the Prime Minister appeared to side with the American government. London mayor Boris Johnson broke ranks to hit out at “the anti British rhetoric… permeating from America” and said the matter was of “great concern” because [...]
Stockbroking chiefs back CGT campaign June 8, 2010 THE CHIEFTAINS of some of the City’s most successful independent stockbrokers have thrown their support behind City A.M.’s campaign against the coalition government’s proposed hikes to capital gains tax (CGT). Yesterday, Charles Stanley chairman and ex-Lord Mayor of London Sir David Howard said he applauded the campaign, claiming that it would be an “astonishing” move [...]
Charles Stanley: No living wills June 8, 2010 SIR DAVID Howard, the former Lord Mayor and chairman of stockbroker Charles Stanley, yesterday warned that the Treasury’s proposals to introduce “living wills” for financial firms could cost the sector hundreds of millions of pounds in lost profits. Howard said the cost of such a move to Charles Stanley would be around £1m, meaning that [...]
Greek economy kept afloat by shipping trade June 6, 2010 MANY of the headlines about the UK and Greek economies have, perhaps understandably, painted a bleak picture of harsh financial realities in both countries. Clearly the UK Government and the Greek administration face a period of painful fiscal tightening as they balance the books and reassure international investors. Therefore, in this challenging period, the top [...]
BAA scraps plans to add new runways May 24, 2010 BAA, the UK airports operator, scrapped controversial plans to add extra runways at Stansted and Heathrow yesterday, after the new government said it would not back expansion. The operator withdrew its planning application for a second runway at Stansted and cancelled work on a planning application for a third runway at Heathrow in reaction to [...]