EU’s Rehn says it’s too early to put a number on the Greek financing gap August 28, 2013 The European Union's Olli Rehn has said that it's too early to put figures on the Greek financing gap, and that there will be a "proposal, possibly in Autumn". Steve Collins, global head of dealing at London & Capital Asset Management: German CDU politicians are going to be furious Rehn has slipped his gag with [...]
Marks & Spencer overhauls its autumn campaign in its latest attempt to boost womenswear range August 18, 2013 MARKS & Spencer has scored a host of British names ranging from Oscar winning actresses to authors and Olympic athletes for its crucial autumn womenswear collection, which could determine Marc Bolland’s future at the chain. The chief executive of M&S has been under increasing pressure this year to stem eight straight quarters of declining sales [...]
M&S’s new ad campaign will struggle to reverse slumping fashion sales November 5, 2013 YOU CAN visualise the meeting at Marks & Spencer’s headquarters when its new campaign, advertising its make-or-break Autumn collection, was finalised. An ad agency suggests the idea of female empowerment and the boardroom battleground. Any actual brand idea is forgotten, as the rolodex spins and agents are called. Actress Helen Mirren, artist Tracey Emin, author [...]
MPs say coalition budgets have been omnishambles January 28, 2013 THE TREASURY Select Committee (TSC) this morning slammed coalition budget policy as unclear, confused and generating uncertainty. The MPs on the committee, led by Andrew Tyrie, used the report to criticise the government for turning the Autumn Statement into a second budget; for giving out unclear signals on plans for fuel duty; and for leaving [...]
ITEM says UK economic policy must be shaken up to beat dip January 20, 2013 THE GOVERNMENT must shake up both fiscal and monetary policy to finally deliver the impetus for robust growth, a widely-regarded economic consultancy demanded this morning. Budgets must be tilted further towards infrastructure and investment spending, ITEM said, with more than just the £5bn announced in the Autumn Statement. And the Bank of England should throw [...]
Osborne faces £10bn hole in the UK public finances February 22, 2013 CHANCELLOR George Osborne is set to run a budget deficit £10bn or more larger than the £119.9bn predicted by the budget watchdog during the 2012-13 fiscal year, economists said yesterday. January’s public borrowing figures, released yesterday by the Office for National Statistics (ONS), looked positive on the surface, analysts said, with a larger-than-expected surplus of £11.4bn, [...]
The Debate: After interest on QE gilts boosted UK’s £11.4bn January surplus, do the figures lack credibility? February 22, 2013 YES Nida Ali The public sector finances demonstrate the problems caused by the statistical fudges of the past couple of years – like the transfer of coupon interest that the Bank of England has earned from buying gilts under its programme of quantitative easing. It’s difficult to decipher the underlying trends. It appears that the [...]
Swiss government gives £340m to the UK Treasury in tax deal January 29, 2013 THE SWISS authorities have paid HM Revenue & Customs an initial £340m as part of a deal to crackdown on tax evasion, chancellor George Osborne revealed yesterday. The payment was made on Monday and forms the first part of an arrangement that the Treasury hopes could raise up to £6bn in extra revenue over the [...]
Cable to announce £110m lending scheme December 11, 2012 Business secretary Vince Cable will today unveil a £110m small business funding package – part of the British Finance Partnership scheme, which was left out of the Autumn Statement to go through extra legal due diligence. Government will provide £55m, matched by funds from the private sector, to help small firms invest and grow, he [...]
Misguided calls for further stimulus misunderstand Britain’s downgrade February 25, 2013 FRONTLINE ECONOMICS BRITAIN’S downgrade became inevitable on 29 November 2011. Before then, the chancellor was committed to eliminating the structural deficit within five years, and to getting net debt as a proportion of GDP falling by 2015. But new forecasts, presented on that day’s Autumn Statement, indicated that he wouldn’t achieve the first target on [...]