CITY MOVES | WHO’S SWITCHING JOBS August 7, 2011 Survitec Group The manufacturer and distributor for the marine, defence and aerospace survival technology industries that was bought by private equity firm Warburg Pincus in 2010 has appointed Paul Lester CBE as chairman. Lester, the former chief executive of VT Group and group managing director of Balfour Beatty, is currently chairman of Greenergy and non-executive [...]
Moody’s warns life insurers on sales as tax breaks end June 1, 2011 CUTBACKS on life insurers’ tax breaks in Europe are a threat to their competitiveness that is being compounded by ultra-low interest rates in the region, credit rating agency Moody’s said yesterday. European life insurers may see their sales volumes hurt if they fail to deliver better returns on life products than savings products offered by [...]
FTSE gains fuelled by Eurozone deal July 22, 2011 The FTSE 100 tracked other global markets upwards as the sealing of a second bailout for Greece produced a collective sigh of relief from investors, governments and financial institutions. Leaders of the Eurozone threw a lifeline to debt-stricken Greece that includes an extra €109bn of government money as well as a significant contribution from private [...]
FTSE gains fuelled by Eurozone deal July 22, 2011 The FTSE 100 tracked other global markets upwards as the sealing of a second bailout for Greece produced a collective sigh of relief from investors, governments and financial institutions. Leaders of the Eurozone threw a lifeline to debt-stricken Greece that includes an extra €109bn of government money as well as a significant contribution from private [...]
DEBT CRISIS ESCALATES July 18, 2011 ITALY suspended trading in government and corporate bonds yesterday as the release of the EU’s stress tests plunged the region deeper into a crisis that some analysts are comparing to the fall of Lehman Brothers. The panic saw billions wiped off the value of Europe’s banks and interest rates on Italian ten-year debt climb above [...]
DEBT CRISIS ESCALATES July 18, 2011 ITALY suspended trading in government and corporate bonds yesterday as the release of the EU’s stress tests plunged the region deeper into a crisis that some analysts are comparing to the fall of Lehman Brothers. The panic saw billions wiped off the value of Europe’s banks and interest rates on Italian ten-year debt climb above [...]
Unknown unknowns stalk the banks July 12, 2011 THERE is by now a depressing familiarity to investors’ Eurozone moodswings. They begin with a nagging anxiety about mounting debt levels, sweep into panic mode and overselling that forces policymakers into action, and then embark upon an excessive relief rally. The difference, this week, is that bank share prices rebounded despite politicians’ least impressive performance [...]
The end of an era for Cloud Cuckoo land economics August 7, 2011 IT came as a shock but not as a surprise. America’s downgrade is another psychologically important moment in the decline of the West: the US and much of Europe, once uncontested superpowers, are now the world’s weakest economic link. The post-Bretton Woods era is coming to an end. Asia and the emerging nations are on [...]
The end of an era for Cloud Cuckoo land economics August 7, 2011 IT came as a shock but not as a surprise. America’s downgrade is another psychologically important moment in the decline of the West: the US and much of Europe, once uncontested superpowers, are now the world’s weakest economic link. The post-Bretton Woods era is coming to an end. Asia and the emerging nations are on [...]
Small businesses say government must cut NI to encourage hiring June 6, 2011 A REDUCTION in National Insurance payments would help small business take on more new staff, according to the latest figures from the Federation of Small Businesses (FSB). The industry body is calling for the government to change its policy on National Insurance, after a survey of more than 1,700 small business owners showed that almost [...]