Inflation jumps to 17-month high May 18, 2010 UK inflation rose more than expected to 3.7 per cent in April. Bank of England governor Mervyn King must now write to new chancellor George Osborne to explain why the cost of living – set out in the consumer prices index (CPI) – is more than a percentage point above the target of two per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
BEST OF THE BROKERS March 29, 2010 HMV Shore Capital have issued a “sell” recommendation for music retailers HMV Group as they remain unconvinced that management can maintain HMV UK profits and suspect profits would already be in decline. Shore Capital said HMV Live also lacks the scale, we believe, to overcome structural pressures on the group’s core businesses. RSM TENON RSM [...]
BRC: Food price inflation slumps in March to its lowest level in three years April 6, 2010 FOOD price inflation fell to its lowest level in three years last month, according to the latest data published by the British Retail Consortium (BRC) today. The BRC said that food price inflation was just 1.2 per cent in the year to March – down from 1.3 per cent in the year to February, despite [...]
Pru told to list its Asian unit June 2, 2010 PRUDENTIAL is facing calls to realise the value of its Asian business through a stockmarket listing after its $35.5bn (£25bn) play for AIA lay in tatters yesterday. Chief executive Tidjane Thiam and chairman Harvey McGrath, who are fighting for their professional lives along with the rest of the board, will come under pressure to provide [...]
UK should brace itself for austerity May 5, 2010 RESEARCH DIRECTOR, FOREX.COM OVER the next few months the British electorate will wake up to the reality of what it means to live in a country with a budget deficit of £163bn. The bleak truth is that few will be immune to the tax hikes and spending cuts that will inevitably hit over the next [...]
HSBC hands chief £800k March 4, 2010 HSBC is to hand chief executive Michael Geoghegan an additional £800,000 a year for his move from London to Hong Kong. The bank boss will receive £300,000 in allowances on top of his salary for “family disruption” over the move, which does not include living expenses. Geoghegan will also receive a further estimated £500,000 for [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2010 FINANCIAL TIMES ALARM WAS RAISED ON LEHMAN Securities and Exchange Commission and Federal Reserve officials were warned by a leading Wall Street rival that Lehman Brothers was incorrectly calculating a key measure of its financial health months before its collapse in 2008, people familiar with the matter say. Former Merrill Lynch officials said they contacted [...]